LOUISVILLE, Ky., July 31, 2019 (GLOBE NEWSWIRE) — Churchill Downs Incorporated ( CHDN ) (the “Company”) today reported business results for the second quarter ended June 30, 2019. Second Quarter 2019 Highlights Net revenue of $477.4 million, up 26% over the prior year quarter Net income of $107.1 million, […]
Second Quarter 2019 Highlights
- Net revenue of $477.4 million, up 26% over the prior year quarter
- Net income of $107.1 million, up 4% over the prior year quarter
º Adjusted net income of $115.0 million, up 9% over the prior year quarter - Adjusted EBITDA of $215.0 million, up 23% over the prior year quarter
- Successful 145th running of The Kentucky Derby, contributing to record highs for wagering and Adjusted EBITDA
- Continued sequential growth at Derby City Gaming in Louisville, Kentucky, with strong margin performance
- Strong performance of our Gaming properties primarily due to the performance of Rivers Casino Des Plaines in Des Plaines, Illinois and Presque Isle Downs & Casino in Erie, Pennsylvania
| (in millions, except per share data) | 2019 | 2018 | ||||
SECOND QUARTER 2019 NET INCOME
The Company’s second quarter 2019 net income of $107.1 million was comprised of $108.3 million in net income from continuing operations and $1.2 million in net loss from discontinued operations. The prior year quarter net income of $103.1 million was comprised of $103.2 million in net income from continuing operations and $0.1 million in net loss from discontinued operations.
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