Churchill Downs reports 10% revenue growth for Q3

Churchill Downs reported net revenue of $337.8m for Q3 2020, a 10% growth compared to $306.3m for the same period in 2019. Net income was $43.2 m, a sizable increase from $14.8m last year. Adjusted EBITDA was $121.9m, 39% higher than $88m reported in 2019. Net income from continuing operations for Q3 was $43.1m against $15.2m for the same period last year. 

churchill

Net revenue for Churchill Downs was $68m, almost twice the $32.7m reported in 2019. Adjusted EBITDA increased 192% year-on-year, incrreasing from $5.2m last year to $23.9m in Q3 2020. 

Online wagering reported net revenue of $126.4m, a $56m increase from $70.4m reported in 2019. The results are partly due to TwinSpires that contributed $54.1m to the total sum. TwinSpires also delivered a record revenue of $116.0m, a 77% growth compared to 2019. Gaming operations brought in $134.9m in net revenue, a 24% drop from $178.6m reported last year. 

According to the statement, the Q3 2020 financial results were impacted by the 146th Kentucky Oaks and Derby that was pushed back from Q2 to Q3, as well as temporary suspensions and other restrictions in some of the properties. As of September 30, 2020, all Churchill Downs' properties have reopened with limited capacity. The group also opened Oak Grove Racing, Gaming & Hotel, and Newport Racing & Gaming properties in Kentucky. 

Premium+ Connections
Premium

1xBet Partners

 
 
Premium

Digitain

 
Premium

Imagine Live

 
Premium

Galaxsys

 
Premium

RISK

 
Premium

Sport Generate

 
 
Premium

Lynon

 
Premium Connections
Consultancy

SCCG Management

Executive Profiles
Scientific Games

Keshav Pitani

Esportes Gaming Brasil

Ana Carolina Luna Maçães

LeoVegas

Mattias Wedar

Kalshi

Sara Slane

Follow Us

Taking stock: Counting on crypto

Gambling Insider tracks the value of the biggest cryptocurre...

In focus: MiFinity

A trusted payments partner for the iGaming industry....

Panel: LatAm and crypto lead the way

During the SBC Summit Americas in Florida, executives from N...

In focus: Spayz.io

Payments that actually work for iGaming operators…...

A welcome from your host

A message from the Founder of the Global Gaming Awards and G...

From the Lead Partner

A message from BetConstruct - Lead Partner of the Global Gam...

The year in review

The Event Manager of the Global Gaming Awards reviews the mo...

Casino Operator of the Year 2025

We present to you the 2025 Shortlist for the Casino Operator...