US racecourse and casino operator Churchill Downs Incorporated (CDI) has posted record results for the second quarter of 2016, with a strong edition of the Kentucky Derby helping drive growth for its core racing business and offset a decline in social casino revenue.
The leading race in the US horse racing calendar boosted the operator's performance during the quarter as total revenue rose 7 per cent to $409.2m, though this masked a slight decline in the Big Fish social casino business.
CDI chief executive Bill Carstanjen hailed the company's operating performance which saw quarterly records set for net revenue, income and adjusted EBITDA.
Premium subscribers continue here to the full article.
