Churchill Downs Posts A 25.8 Percent Increase In Q2 Revenue

Churchill Downs Posts A 25.8 Percent Increase In Q2 Revenue

Churchill Downs has posted a 25.8 percent year-on-year increase in its revenue for the second quarter of 2019.

The surge in revenue has been attributed to the new casinos which the gambling operator acquired. The newly acquired casino pushed the company’s offsite gaming revenue by a significant 64.3 percent.

Churchill Downs racetrack grossed $161m in revenue for three months to 30 June. Last year for the same period the racetrack could generate only $154.9m.

The new Derby City Gaming facility, which started operations in September 2018 also chipped in $21.2 m to total revenue. As such, Churchill Downs racetrack site overall revenue jumped to $182.2m.

The newly acquired casinos, Ocean Downs in Berlin, Maryland; Presque Isle in Erie, Pennsylvania and Lady Luck Nemacolin in Farmington, Pennsylvania, fetched $21.9m, $37.1m and $8.3m respectively.

Presque Isle was the highest-grossing Casino of all Churchill Downs properties.

Recently, Churchill Downs Inc., which manages the Lady Luck Casino Nemacolin, paid $1 million to the Pennsylvania Gaming Control Board to revoke the $10 access fee which gamblers had to pay every time they visited the gambling facility.

Churchill Down’s Lady Luck Casino features 600 slot machines and 27 table games.

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