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Churchill Downs posts record $163.2m in Q3 adjusted EBITDA but net revenue falls

Churchill Downs Incorporated (CDI) has reported a 4.5% increase in adjusted EBITDA for Q3, despite a modest 2.5% decrease in net revenue. The company’s top-line has declined by approximately $10m year-on-year, dropping from $393m to $383.1m. As a result, Churchill’s profitability was negatively impacted to the tune of $4.4m. The company’s third quarter net income fell from $61.4m to $57m, a 7% decrease. Churchill’s Twin...
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