Churchill Downs hit a quarterly net revenue of US$890.7m in Q2 2024, up from $768.5m in 2023 and an all-time quarterly record for the company.
Adjusted EBITDA was also at an all-time record of $444.8m, up from $363.7m in Q2 2023. Net income attributable to CDI was $209.3m, up from $143m.
Looking ahead, the company will also be undertaking an $80m - $90m renovation to the existing Grandstand Club and Pavillion at Churchill Downs Racetrack, which is scheduled to begin in August and complete before the 151st Kentucky Derby in May 2025.
First-floor amenities for the Grandstand Club will include new and upgraded permanent concessions, bars and wagering windows.
The company also announced the retirement of Robert L Fealy from its board of directors.
"We are grateful for Bob’s long-term exemplary service as a board member of Churchill Downs Incorporated,” said Bill Carstanjen, CDI's President and CEO. "We will miss his perspective, insight, and dedication to our Company. I want to also personally thank him for his friendship and wisdom over the many years we have worked together.”
