Churchill Downs Inc. Chair & CEO Robert Evans today said that the company "plans to construct 'The Mansion' at its flagship track in Louisville in time" for next year's Kentucky Derby and Kentucky Oaks. Evans, who called the announcement a "tease" with details to follow, said the company will be making some changes "to the Churchill Downs property later this year that we hope will favorably affect our Derby and Oaks financials starting in 2013." Evans added that CDI was "seeing favorable numbers for this year's Derby and Oaks, with sponsorships and personal seat licenses running ahead of last year's robust numbers" (BLOODHORSE.com, 3/13).
Meanwhile, CDI reported record FY '11 revenue and earnings and company officials credited the company's revenue growth "to continued expansions of the company's gambling and online businesses." The company posted profits of $64.4M, up from $16.4M in FY '10. Revenue increased 19% to $696.9M. The casino gains are due largely to the acquisition of Harlow's Casino Resort & Hotel in Mississippi, while the online gains are due in part to the acquisition of the YouBet.com wagering service, which CDI merged with TwinSpires.com (Lexington HERALD-LEADER, 3/13).
