Churchill Downs Incorporated (“CDI” or the “Company”) (Nasdaq:
CHDN) announced today that Medina Spirit claimed the Garland of
Roses in the 147th running of the $3 million Kentucky Derby
presented by Woodford Reserve. The Company reported that 51,838
fans reveled under cloudless skies to watch as the “Most Exciting
Two Minutes in Sports” triumphantly returned to the first Saturday
in May at Churchill Downs Racetrack (“Churchill Downs”).
Wagering from all-sources on the Kentucky Derby
Day program totaled $233.0 million up 85% compared to the 2020
Kentucky Derby Day program. All-sources wagering on the Kentucky
Derby race was $155.4 million up 96% from last year’s Derby
race.
All-sources handle for Opening
Night, Saturday, April 24, through Derby Day, Saturday,
May 1, was recorded at $314.6 million, up 79% from last year.
TwinSpires, one of the largest and most
profitable online wagering platforms for horse racing, sports and
iGaming in the U.S., and the official wagering partner of the
Kentucky Derby, recorded preliminary record handle of $62.7 million
on Churchill Downs races for the Kentucky Derby Day program, an
increase of 66% over the prior year. TwinSpires recorded
preliminary record handle on the Kentucky Derby race alone of $40.8
million, up 75% over 2020.
Medina Spirit, owned by Zedan Racing Stables,
and bred in Florida by Gail Rice led from the start, held off a
spirited rally from Mandaloun and prevailed in a thrilling finish
by a 1/2 length. Trainer Bob Baffert secured his 7th Kentucky Derby
win eclipsing the record previously shared with Ben Jones. Jockey
John Velazquez recorded his 4th Kentucky Derby victory and capped a
successful weekend by winning both the Kentucky Oaks and the
Kentucky Derby.
“Today it was incredibly
gratifying to welcome our fans back to Churchill Downs for the
147th running of the Kentucky Derby,” said Bill Carstanjen, CEO of
CDI. “We will continue to invest in this iconic event as we create
unique and once-in-a-lifetime experiences in the coming years for
our guests.”
Churchill Downs introduced two new charity
efforts this year. A naturalization ceremony was hosted in the
Winner’s Circle of Churchill Downs as U.S. District Judge for the
Western District of Kentucky Benjamin Beaton administered the Oath
of Allegiance to five new citizens representing five different
countries on the day of America’s Greatest Race. CDI hosted nearly
300 representatives from Kentucky’s Foster Care sector as guests in
the first-ever Kentucky Derby Foster Family Initiative partnership
with Jim “Mattress Mack” and in cooperation with Louisville
nonprofits Maryhurst and Boys & Girls Haven.
About Churchill Downs
Incorporated
Churchill Downs Incorporated is an
industry-leading racing, online wagering and gaming entertainment
company anchored by our iconic flagship event, the Kentucky Derby.
We own and operate three pari-mutuel gaming entertainment venues
with approximately 3,050 historical racing machines in Kentucky. We
also own and operate TwinSpires, one of the largest and most
profitable online wagering platforms for horse racing, sports and
iGaming in the U.S. and we have seven retail sportsbooks. We are
also a leader in brick-and-mortar casino gaming in eight states
with approximately 11,000 slot machines and video lottery terminals
and 200 table games. Additional information about CDI can be found
online at www.churchilldownsincorporated.com.
About Churchill Downs
Racetrack
Churchill Downs Racetrack (“Churchill Downs”),
the world’s most legendary racetrack, has been the home of The
Kentucky Derby, the longest continually held annual sporting event
in the United States, since 1875. Located in Louisville, Churchill
Downs features a series of themed race days during Derby Week,
including the Kentucky Oaks, and conducts Thoroughbred horse racing
during three race meets in the Spring, September, and the Fall.
Churchill Downs is located on 175 acres and has a one-mile dirt
track, a 7/8-mile turf track, a stabling area, and provides seating
for approximately 60,000 guests. The saddling paddock and the
stable area has barns sufficient to accommodate 1,400 horses and a
114-room dormitory for backstretch personnel. Churchill Downs also
has a year-round simulcast wagering facility.
www.ChurchillDowns.com.
Certain statements made in this news release
contain various “forward-looking statements” within the meaning of
the “safe harbor” provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are typically
identified by the use of terms such as “anticipate,” “believe,”
“could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,”
“predict,” “project,” “seek,” “should,” “will,” and similar words
or similar expressions (or negative versions of such words or
expressions).
Although we believe that the expectations
reflected in such forward-looking statements are reasonable, we can
give no assurance that such expectations will prove to be correct.
Important factors, among others, that may materially affect actual
results or outcomes include the following: the impact of the novel
coronavirus (COVID-19) pandemic and related economic matters on our
results of operations, financial conditions and prospects; the
occurrence of extraordinary events, such as terrorist attacks,
public health threats, civil unrest, and inclement weather; the
effect of economic conditions on our consumers' confidence and
discretionary spending or our access to credit; additional or
increased taxes and fees; the impact of significant competition,
and the expectation the competition levels will increase; changes
in consumer preferences, attendance, wagering, and sponsorships;
loss of key or highly skilled personnel; lack of confidence in the
integrity of our core businesses or any deterioration in our
reputation; risks associated with equity investments, strategic
alliances and other third-party agreements; inability to respond to
rapid technological changes in a timely manner; concentration and
evolution of slot machine manufacturing and other technology
conditions that could impose additional costs; inability to
negotiate agreements with industry constituents, including horsemen
and other racetracks; inability to successfully expand our
TwinSpires Sports and Casino business and effectively compete;
inability to identify and complete expansion, acquisition or
divestiture projects, on time, on budget or as planned; difficulty
in integrating recent or future acquisitions into our operations;
costs and uncertainties relating to the development of new venues
and expansion of existing facilities; general risks related to real
estate ownership and significant expenditures, including
fluctuations in market values and environmental regulations;
reliance on our technology services and catastrophic events and
system failures disrupting our operations; online security risk,
including cyber-security breaches, or loss or misuse of our stored
information as a result of a breach, including customers’ personal
information, could lead to government enforcement actions or other
litigation; personal injury litigation related to injuries
occurring at our racetracks; compliance with the Foreign Corrupt
Practices Act or applicable money-laundering regulations;
payment-related risks, such as risk associated with fraudulent
credit card and debit card use; work stoppages and labor issues;
risks related to pending or future legal proceedings and other
actions; highly regulated operations and changes in the regulatory
environment could adversely affect our business; restrictions in
our debt facilities limiting our flexibility to operate our
business; failure to comply with the financial ratios and other
covenants in our debt facilities and other indebtedness; and
increase in our insurance costs, or obtain similar insurance
coverage in the future, and inability to recover under our
insurance policies for damages sustained at our properties in the
event of inclement weather and casualty events.
We do not undertake any obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
law.
|
|
Investor Contact: Nick Zangari |
Media Contact: Tonya Abeln |
(502) 394-1157 |
(502) 386-1742 |
Nick.Zangari@kyderby.com |
Tonya.Abeln@kyderby.com |
|
|
Churchill Downs (NASDAQ:CHDN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Churchill Downs (NASDAQ:CHDN)
Historical Stock Chart
From Apr 2023 to Apr 2024