{"id":145,"date":"2024-06-16T10:15:43","date_gmt":"2024-06-16T07:15:43","guid":{"rendered":"https:\/\/cryptoleobonuscode.icu\/2024\/06\/16\/churchill-downs-incorporated-reports-record-first-quarter-revenue-but-lower-earnings\/"},"modified":"2024-06-17T13:01:17","modified_gmt":"2024-06-17T10:01:17","slug":"churchill-downs-incorporated-reports-record-first-quarter-revenue-but-lower-earnings","status":"publish","type":"post","link":"https:\/\/cryptoleobonuscode.icu\/2024\/06\/16\/churchill-downs-incorporated-reports-record-first-quarter-revenue-but-lower-earnings\/","title":{"rendered":"Churchill Downs Incorporated Reports Record First-Quarter Revenue But Lower Earnings"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/fyaGywmgz1U\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Churchill Downs Incorporated (CHDN) just published an outstanding first-quarter earnings statement for the period concluding March 31, 2024.  The corporation shattered its own income benchmarks, but earnings decreased contrasted with the corresponding timeframe last year because of challenging juxtapositions with a robust showing in the initial quarter of 2023. <\/p>\n<p>CHDN brought in $590.9 million in income, a 6% rise year-over-year and a fresh first-quarter high.  Nevertheless, net earnings took a plunge, plummeting 48% to $80.4 million.  In spite of this, the corporation emphasized its record-setting adjusted EBITDA, which surged 9% to $242.5 million.<\/p>\n<p>The corporation&#8217;s triumph was driven by its in-person and archived racing divisions.  Income in this sector leaped 15% year-over-year, while adjusted EBITDA witnessed an even more remarkable 23% boost.  This expansion was propelled by strong exhibitions at its Kentucky HRM holdings, its Virginia holdings, and its latest addition, Rosies Gaming Emporia, which debuted in September 2023. <\/p>\n<p>CHDN&#8217;s internet wagering platform, TwinSpires, also had a solid presentation.  Income for the platform climbed 18% year-over-year, and adjusted EBITDA skyrocketed 35%.  This accomplishment was ascribed to the purchase of Exacta Systems and the ongoing enlargement of its retail and digital sports betting ventures. <\/p>\n<p>Although the statement didn&#8217;t detail the precise numbers, it did note a minor decrease in income from the corporation&#8217;s gaming division. <\/p>\n<p>Churchill Downs Inc. encountered a challenging beginning to 2024. The firm lost $4 million in income because of the shutdown of Lady Luck Casino Nemacolin and harsh weather affecting its gambling activities in January. <\/p>\n<p>Nevertheless, the corporation is moving ahead with its growth strategies. Churchill Downs revealed new ventures: The Rose Gaming Resort, scheduled to debut in late September 2024, and Owensboro Racing &#038; Gaming, anticipated in the initial quarter of 2025.<\/p>\n<p>Furthermore, the enterprise concluded the sale of a 49% interest in United Tote Company to NYRA Content Management Solutions and reacquired $2.2 million worth of shares as part of its continuing share repurchase initiative.<\/p>\n<p>The organization posted a net profit of $80.4 million for the first quarter of 2024, a substantial decline from the $155.7 million recorded during the corresponding period last year. This reduction was partially ascribed to the after-tax profit from the disposal of the Arlington Heights property in Illinois in the previous year and modifications connected to dealings, pre-opening outlays, and other expenditures.<\/p>\n<p>This development comes after a robust conclusion to 2023, with Churchill Downs declaring record-setting full-year net earnings of $2.5 billion, signifying a 36% surge year-on-year. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Churchill Downs Incorporated (CHDN) just published an outstanding first-quarter earnings statement for the period concluding March 31, 2024. The corporation shattered its own income benchmarks, but earnings decreased contrasted with the corresponding timeframe last year because of challenging juxtapositions with a robust showing in the initial quarter of 2023. CHDN brought in $590.9 million in [&hellip;]<\/p>\n","protected":false},"author":37,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"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 Earnings: Record Revenue, But Challenges Remain<\/title>\n<meta name=\"description\" content=\"Churchill Downs shattered revenue records in Q1 2024, but earnings saw a dip compared to a strong 2023. 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