{"id":200,"date":"2024-06-18T03:35:15","date_gmt":"2024-06-18T00:35:15","guid":{"rendered":"https:\/\/jumbabetnodepositbonus.icu\/2024\/06\/18\/churchill-downs-incorporated-reports-record-revenue-but-declining-profits-in-first-quarter-2024-earnings\/"},"modified":"2024-06-20T17:14:14","modified_gmt":"2024-06-20T14:14:14","slug":"churchill-downs-incorporated-reports-record-revenue-but-declining-profits-in-first-quarter-2024-earnings","status":"publish","type":"post","link":"https:\/\/jumbabetnodepositbonus.icu\/2024\/06\/18\/churchill-downs-incorporated-reports-record-revenue-but-declining-profits-in-first-quarter-2024-earnings\/","title":{"rendered":"Churchill Downs Incorporated Reports Record Revenue But Declining Profits in First Quarter 2024 Earnings"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/gbp1c4d-hcQ\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Churchill Downs Incorporated recently published its first-quarter 2024 earnings report, revealing a somewhat uneven performance. Although the corporation achieved unprecedented revenue, propelled by robust results in its live and historical racing divisions, earnings experienced a decline. <\/p>\n<p>Overall revenue reached $590.9 million, a 6% increase from the corresponding period last year. This expansion was driven by a 15% surge in revenue from their live and historical racing events, notably at their Kentucky, Virginia, and Rosie&#8217;s Emporia venues. The online wagering platform, TwinSpires, also witnessed a substantial 18% revenue growth, partially attributed to the Exacta Systems acquisition and expansion within the retail and online sports betting sector. <\/p>\n<p>Nevertheless, despite the favorable revenue trajectory, net income experienced a downturn, dropping by 48% to $80.4 million. This was partially counterbalanced by a 9% rise in adjusted EBITDA, which hit $242.5 million.  Notably, the report does not elaborate on the specific factors contributing to the profit reduction, but it does indicate an $8 million revenue decrease from the gaming segment. <\/p>\n<p>The start of 2024 presented difficulties for Churchill Downs Incorporated, as first-quarter earnings decreased by $4 million. This reduction was linked to the firm&#8217;s termination of its administrative contract with Lady Luck Casino Nemacolin, compounded by a difficult gaming environment in January.<\/p>\n<p>Despite this obstacle, Churchill Downs maintains a positive outlook for its future. The corporation is actively broadening its gaming endeavors, with the eagerly awaited Rose Gaming Resort and Owensboro Racing &#038; Gaming ventures scheduled to debut in late September 2024 and the initial quarter of 2025, correspondingly.<\/p>\n<p>In further strategic actions, Churchill Downs concluded the divestiture of a 49% ownership interest in the United Tote Company to NYRA Content Management Solutions. The company also sustained its share buyback initiative, repurchasing $22 million worth of stock during the first quarter.<\/p>\n<p>Although the first quarter of 2024 witnessed net income fall to $80.4 million compared to $155.7 million in the parallel period the prior year, it&#8217;s crucial to recognize that the preceding year&#8217;s results were substantially augmented by the post-tax profit from the disposal of the Arlington Park estate in Illinois.<\/p>\n<p>This information follows a record-setting 2023 for Churchill Downs, with the enterprise announcing an impressive $2.5 billion in net revenue for the year, signifying a 36% surge from the year before. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Churchill Downs Incorporated recently published its first-quarter 2024 earnings report, revealing a somewhat uneven performance. Although the corporation achieved unprecedented revenue, propelled by robust results in its live and historical racing divisions, earnings experienced a decline. Overall revenue reached $590.9 million, a 6% increase from the corresponding period last year. This expansion was driven by [&hellip;]<\/p>\n","protected":false},"author":82,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Churchill Downs Q1 2024: Record Revenue, But Earnings Dip<\/title>\n<meta name=\"description\" content=\"Churchill Downs Incorporated posts record revenue of $590.9 million, fueled by strong live and historical racing results. However, earnings declined in Q1 2024. What caused the discrepancy?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/jumbabetnodepositbonus.icu\/2024\/06\/18\/churchill-downs-incorporated-reports-record-revenue-but-declining-profits-in-first-quarter-2024-earnings\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Churchill Downs Incorporated Reports Record Revenue But Declining Profits in First Quarter 2024 Earnings\" \/>\n<meta property=\"og:description\" content=\"Churchill Downs Incorporated posts record revenue of $590.9 million, fueled by strong live and historical racing results. However, earnings declined in Q1 2024. What caused the discrepancy?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/jumbabetnodepositbonus.icu\/2024\/06\/18\/churchill-downs-incorporated-reports-record-revenue-but-declining-profits-in-first-quarter-2024-earnings\/\" \/>\n<meta property=\"og:site_name\" content=\"Where Casino Lovers Find Their Lucky Break | Licensed Games\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-18T00:35:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-20T14:14:14+00:00\" \/>\n<meta name=\"author\" content=\"Peyton &quot;Pepper&quot; Bowman\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Peyton &quot;Pepper&quot; Bowman\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/jumbabetnodepositbonus.icu\/2024\/06\/18\/churchill-downs-incorporated-reports-record-revenue-but-declining-profits-in-first-quarter-2024-earnings\/\",\"url\":\"https:\/\/jumbabetnodepositbonus.icu\/2024\/06\/18\/churchill-downs-incorporated-reports-record-revenue-but-declining-profits-in-first-quarter-2024-earnings\/\",\"name\":\"Churchill Downs Q1 2024: Record Revenue, But Earnings Dip\",\"isPartOf\":{\"@id\":\"https:\/\/jumbabetnodepositbonus.icu\/#website\"},\"datePublished\":\"2024-06-18T00:35:15+00:00\",\"dateModified\":\"2024-06-20T14:14:14+00:00\",\"author\":{\"@id\":\"https:\/\/jumbabetnodepositbonus.icu\/#\/schema\/person\/baa0b979e2ed8a8d558790275a7d1342\"},\"description\":\"Churchill Downs Incorporated posts record revenue of $590.9 million, fueled by strong live and historical racing results. However, earnings declined in Q1 2024. What caused the discrepancy?\",\"breadcrumb\":{\"@id\":\"https:\/\/jumbabetnodepositbonus.icu\/2024\/06\/18\/churchill-downs-incorporated-reports-record-revenue-but-declining-profits-in-first-quarter-2024-earnings\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/jumbabetnodepositbonus.icu\/2024\/06\/18\/churchill-downs-incorporated-reports-record-revenue-but-declining-profits-in-first-quarter-2024-earnings\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/jumbabetnodepositbonus.icu\/2024\/06\/18\/churchill-downs-incorporated-reports-record-revenue-but-declining-profits-in-first-quarter-2024-earnings\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/jumbabetnodepositbonus.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Churchill Downs Incorporated Reports Record Revenue But Declining Profits in First Quarter 2024 Earnings\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/jumbabetnodepositbonus.icu\/#website\",\"url\":\"https:\/\/jumbabetnodepositbonus.icu\/\",\"name\":\"Where Casino Lovers Find Their Lucky Break | Licensed Games\",\"description\":\"Unlock the secrets of casino success with our regularly updated news, comprehensive reviews, and expert articles. Our licensed online platform is your ultimate gaming resource.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/jumbabetnodepositbonus.icu\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/jumbabetnodepositbonus.icu\/#\/schema\/person\/baa0b979e2ed8a8d558790275a7d1342\",\"name\":\"Peyton \\\"Pepper\\\" Bowman\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/jumbabetnodepositbonus.icu\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/jumbabetnodepositbonus.icu\/wp-content\/uploads\/sites\/85\/2024\/06\/man-avatar-96x96.png\",\"contentUrl\":\"https:\/\/jumbabetnodepositbonus.icu\/wp-content\/uploads\/sites\/85\/2024\/06\/man-avatar-96x96.png\",\"caption\":\"Peyton \\\"Pepper\\\" Bowman\"},\"description\":\"Holding a Master's degree in Mathematical Logic and a Bachelor's in Philosophy, this versatile author has a deep appreciation for the logical and philosophical foundations of probability and their role in shaping the epistemological and ethical dimensions of gambling. They have expertise in modal logic, philosophy of probability, and decision theory, which they apply to the analysis of the logical and philosophical aspects of gambling reasoning and the development of strategies to promote rational and ethical decision-making in gambling contexts. Their articles and reviews provide readers with a logical and philosophical perspective on the casino industry and the strategies used to enhance the rationality and morality of gambling practices.\",\"url\":\"https:\/\/jumbabetnodepositbonus.icu\/author\/312dfsva2314\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Churchill Downs Q1 2024: Record Revenue, But Earnings Dip","description":"Churchill Downs Incorporated posts record revenue of $590.9 million, fueled by strong live and historical racing results. However, earnings declined in Q1 2024. What caused the discrepancy?","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/jumbabetnodepositbonus.icu\/2024\/06\/18\/churchill-downs-incorporated-reports-record-revenue-but-declining-profits-in-first-quarter-2024-earnings\/","og_locale":"en_GB","og_type":"article","og_title":"Churchill Downs Incorporated Reports Record Revenue But Declining Profits in First Quarter 2024 Earnings","og_description":"Churchill Downs Incorporated posts record revenue of $590.9 million, fueled by strong live and historical racing results. However, earnings declined in Q1 2024. What caused the discrepancy?","og_url":"https:\/\/jumbabetnodepositbonus.icu\/2024\/06\/18\/churchill-downs-incorporated-reports-record-revenue-but-declining-profits-in-first-quarter-2024-earnings\/","og_site_name":"Where Casino Lovers Find Their Lucky Break | Licensed Games","article_published_time":"2024-06-18T00:35:15+00:00","article_modified_time":"2024-06-20T14:14:14+00:00","author":"Peyton \"Pepper\" Bowman","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Peyton \"Pepper\" Bowman","Estimated reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/jumbabetnodepositbonus.icu\/2024\/06\/18\/churchill-downs-incorporated-reports-record-revenue-but-declining-profits-in-first-quarter-2024-earnings\/","url":"https:\/\/jumbabetnodepositbonus.icu\/2024\/06\/18\/churchill-downs-incorporated-reports-record-revenue-but-declining-profits-in-first-quarter-2024-earnings\/","name":"Churchill Downs Q1 2024: Record Revenue, But Earnings Dip","isPartOf":{"@id":"https:\/\/jumbabetnodepositbonus.icu\/#website"},"datePublished":"2024-06-18T00:35:15+00:00","dateModified":"2024-06-20T14:14:14+00:00","author":{"@id":"https:\/\/jumbabetnodepositbonus.icu\/#\/schema\/person\/baa0b979e2ed8a8d558790275a7d1342"},"description":"Churchill Downs Incorporated posts record revenue of $590.9 million, fueled by strong live and historical racing results. However, earnings declined in Q1 2024. What caused the discrepancy?","breadcrumb":{"@id":"https:\/\/jumbabetnodepositbonus.icu\/2024\/06\/18\/churchill-downs-incorporated-reports-record-revenue-but-declining-profits-in-first-quarter-2024-earnings\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/jumbabetnodepositbonus.icu\/2024\/06\/18\/churchill-downs-incorporated-reports-record-revenue-but-declining-profits-in-first-quarter-2024-earnings\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/jumbabetnodepositbonus.icu\/2024\/06\/18\/churchill-downs-incorporated-reports-record-revenue-but-declining-profits-in-first-quarter-2024-earnings\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Homepage","item":"https:\/\/jumbabetnodepositbonus.icu\/"},{"@type":"ListItem","position":2,"name":"Churchill Downs Incorporated Reports Record Revenue But Declining Profits in First Quarter 2024 Earnings"}]},{"@type":"WebSite","@id":"https:\/\/jumbabetnodepositbonus.icu\/#website","url":"https:\/\/jumbabetnodepositbonus.icu\/","name":"Where Casino Lovers Find Their Lucky Break | Licensed Games","description":"Unlock the secrets of casino success with our regularly updated news, comprehensive reviews, and expert articles. Our licensed online platform is your ultimate gaming resource.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/jumbabetnodepositbonus.icu\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/jumbabetnodepositbonus.icu\/#\/schema\/person\/baa0b979e2ed8a8d558790275a7d1342","name":"Peyton \"Pepper\" Bowman","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/jumbabetnodepositbonus.icu\/#\/schema\/person\/image\/","url":"https:\/\/jumbabetnodepositbonus.icu\/wp-content\/uploads\/sites\/85\/2024\/06\/man-avatar-96x96.png","contentUrl":"https:\/\/jumbabetnodepositbonus.icu\/wp-content\/uploads\/sites\/85\/2024\/06\/man-avatar-96x96.png","caption":"Peyton \"Pepper\" Bowman"},"description":"Holding a Master's degree in Mathematical Logic and a Bachelor's in Philosophy, this versatile author has a deep appreciation for the logical and philosophical foundations of probability and their role in shaping the epistemological and ethical dimensions of gambling. They have expertise in modal logic, philosophy of probability, and decision theory, which they apply to the analysis of the logical and philosophical aspects of gambling reasoning and the development of strategies to promote rational and ethical decision-making in gambling contexts. Their articles and reviews provide readers with a logical and philosophical perspective on the casino industry and the strategies used to enhance the rationality and morality of gambling practices.","url":"https:\/\/jumbabetnodepositbonus.icu\/author\/312dfsva2314\/"}]}},"_links":{"self":[{"href":"https:\/\/jumbabetnodepositbonus.icu\/wp-json\/wp\/v2\/posts\/200"}],"collection":[{"href":"https:\/\/jumbabetnodepositbonus.icu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jumbabetnodepositbonus.icu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jumbabetnodepositbonus.icu\/wp-json\/wp\/v2\/users\/82"}],"replies":[{"embeddable":true,"href":"https:\/\/jumbabetnodepositbonus.icu\/wp-json\/wp\/v2\/comments?post=200"}],"version-history":[{"count":1,"href":"https:\/\/jumbabetnodepositbonus.icu\/wp-json\/wp\/v2\/posts\/200\/revisions"}],"predecessor-version":[{"id":237,"href":"https:\/\/jumbabetnodepositbonus.icu\/wp-json\/wp\/v2\/posts\/200\/revisions\/237"}],"wp:attachment":[{"href":"https:\/\/jumbabetnodepositbonus.icu\/wp-json\/wp\/v2\/media?parent=200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jumbabetnodepositbonus.icu\/wp-json\/wp\/v2\/categories?post=200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jumbabetnodepositbonus.icu\/wp-json\/wp\/v2\/tags?post=200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}