Churchill Downs (CDI) has reported a record high net revenue for the company for the quarter ending March 31, 2025, at US$642.6m.
The figure is an increase of nine per cent, or $51.7m, up on Q1 2024.
Adjusted EBITDA for the period also set a new record at $245.1m, one per cent, or $2.6m, up on Q1 2024.
Net income, however, was $76.7m, a decrease of five per cent, or $3.7m, on Q1 2024.
The company also announced renovations of the existing Finish Line Suites and The Mansion at Churchill Downs Racetrack with expected completion in April 2026.
The renovation of the Finish Line Suites will update the existing 15 suites on the fifth floor overlooking the finish line at Churchill Downs Racetrack, providing “modern interior appointments and amenities” while also increasing the capacity to a total of 750 guests. The renovation of the Trophy Room, which sits behind the Finish Line Suites with capacity for over 300 guests, will add “updated finishes and a new feature bar.”
Renovation of The Mansion, located on the sixth floor of Churchill Downs Racetrack, will introduce updated finishes and other enhancements.
“After careful consideration, CDI has decided to pause the multi-year projects to develop The Skye, Conservatory and Infield areas,” the company declared. “The decision to delay these construction projects is due to the increasing uncertainty surrounding construction costs related to tariff and trade disputes as well as current macro-economic conditions.
“In the coming months, CDI will assess the evolving economic landscape and evaluate any changes to the timing and sequencing of these multi-year projects.”
