Churchill Downs Wednesday reported revenue of $890.7 million for the second quarter of 2024, an all-time record according to a release. The total was a 14.7% increase compared to the $768.5 million generated in the second quarter of 2023.

Net income for the quarter was $209.3 million, a year-over-year increase of 37.6%. Churchill Downs also generated record adjusted EBITDA of $444.8 million in 2Q24, compared to $363.7 million in 2Q23.

The company delivered record second-quarter revenue and adjusted EBITDA across all its reporting segments:

The 150th Kentucky Derby at Churchill Downs Racetrack generated an all-time record all-sources handle for the Kentucky Derby, the Kentucky Derby Day program, and Kentucky Derby week races, with an all-time record Derby Week contribution to Adjusted EBITDA.

Churchill Downs also signed a new seven-year agreement with NBC to continue broadcasting Kentucky Derby Week on NBC and Peacock for 2026 through 2032.
The company opened the Terre Haute Casino Resort in Terre Haute, Indiana on April 5 and the hotel on May 15.

On July 3, Churchill Downs amended its revolving credit facility and Term Loan A facility to, among other things, extend the maturity dates from 2027 to 2029. The company ended the second quarter of 2024 with net bank leverage of 4.0x,

Churchill Downs stock closed at $137.25 on the Nasdaq, down $4.43, or 3.13%.

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