Churchill Downs Incorporated announces record first-quarter net revenue

(AsiaGameHub) –   Year-over-year net revenue saw a 3 per cent increase.

U.S. – Churchill Downs Incorporated (CDI) has published its financial results for the quarter ended March 31, 2026. Net revenue hit a record $663m, up 3 per cent year-over-year. Net income came in at $83m, rising 8 per cent, while adjusted EBITDA reached $257m, marking a 5 per cent increase.

The wagering services and solutions segment recorded $118m in revenue, a $2m gain compared to Q1 2025. Adjusted EBITDA for the segment was $45m, up $4m, with growth mainly driven by lower legal costs for the racing business and expansion in retail sports betting.

The gaming segment generated $262m in revenue, a $5m decrease from the same period in 2025. First quarter 2026 adjusted EBITDA for the segment hit $123m, down $1m. The live and historical racing segment posted $301m in revenue, up from $277m, and recorded $113m in adjusted EBITDA, an increase from the prior year’s $102m.

In February, the company launched Marshall Yards Racing & Gaming in Southwestern Kentucky. In April, it announced a finalized agreement to acquire the intellectual property of the Preakness Stakes and Black-Eyed Susan Stakes from 1/ST Maryland LLC for $85m.