Menu
Finance

Churchill Downs Inc. Credits Increased Derby Profits For Record Quarterly Revenue

Churchill Downs Inc. yesterday announced that it had "record revenue" of more than $409M "in the quarter that ended June 30," according to Janet Patton of the LEXINGTON HERALD-LEADER. CDI reported earnings "were down" 3% to $55M. Year-to-date, CDI has reported earnings "were down" 6% to $53.5M. However, the revenue picture "was bright," showing a 35% increase over the same quarter of '14, due to a $6M "increase in profitability for 2015 Kentucky Derby week and especially to the payoff from Big Fish Gaming, the online game company Churchill now owns" (LEXINGTON HERALD-LEADER, 7/30). In Louisville, Gregory Hall notes Big Fish, which CDI acquired last year, added $104.5M "in net revenues during the quarter" and $28.2M "in profit before taxes and other factors." Meanwhile, the company announced that CDI CEO Bill Carstanjen "has been added" to its BOD (Louisville COURIER-JOURNAL, 7/30). BLOODHORSE.com's Frank Angst noted CDI's advance deposit wagering platform, TwinSpires.com, also "enjoyed a strong quarter as total pari-mutuel handle improved 9%" to $289.4M "to pace a 6% improvement in net revenue" to $60.7M compared with the same quarter last year (BLOODHORSE.com, 7/29). At presstime, shares of CHDN were trading at $130.88, up 4.65% from the close of business yesterday (THE DAILY).

SBJ Morning Buzzcast: March 18, 2024

Sports Business Awards nominees unveiled; NWSL's historic opening weekend and takeaways from CFP deal

ESPN’s Jay Bilas, BTN’s Meghan McKeown, and a deep dive into AppleTV+’s The Dynasty

On this week’s Sports Media Podcast from the New York Post and Sports Business Journal, ESPN’s Jay Bilas talks all things NCAA. Big Ten Network’s Meghan McKeown shares her insight into the Caitlin Clark craze. The Boston Globe’s Chad Finn chats all things Bean Town. And SBJ’s Xavier Hunter drops in to share his findings on how the NWSL is making a social media push.

Learn more about your ad choices. Visit megaphone.fm/adchoices

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Daily/Issues/2015/07/30/Finance/CDI.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Daily/Issues/2015/07/30/Finance/CDI.aspx

CLOSE