CDI reports record revenue in 2023

CDI reports record revenue in 2023

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CDI reports record revenue in 2023

Churchill Downs generated a record revenue throughout 2023.

The company’s revenue throughout the year reached 2.5 billion dollars, representing a year-over-year increase of 36% from the firm’s 1.8 billion dollar revenue in 2022. This led to a similar increase in the company’s adjusted EBITDA, which went up by 34% year-over-year from the preceding year’s EBITDA of less than 800 million dollars to a billion dollars. CDI’s net income, on the other hand, experienced a slight decrease in the period, going down by 5% from 2022’s 439 million dollars to 417 million dollars.

CDI also reported its performance for the final quarter of 2023, which revealed similar increases in the firm’s net revenue and adjusted EBITDA, which were recorded at 561 million dollars and 219 million dollars at the end of the period respectively. The firm’s Q4 net income experienced a sizable increase as well, going from last year’s revenue of just a million dollars to more than 57 million dollars.

Broken down by the company’s key operating divisions, CDI’s gambling offerings generated the most revenue for the firm throughout the year at 974 million dollars, experiencing a sizable increase from last year’s revenue of 762 million dollars. The company’s TwinSpires subsidiary, on the other hand, generated 458 million dollars in the year, up from last year’s revenue of 441 million dollars.

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