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Churchill Downs grows 2018 net income by 151%

28th February 2019 8:24 am GMT
Churchill Downs

New York-listed gaming and racetrack operator Churchill Downs Inc. more than doubled its net income in 2018 after taking full ownership of Ocean Downs.

The Ocean Downs transaction added $42.3m to 2018 net income, with the company also benefiting from the reduced corporate income tax rate effective January 2018.

CDI recorded net revenue of $1,009.0m in 2018, a 14 per cent year-on-year improvement, as fourth quarter revenue climbed by 22 per cent to $219.0m. The net revenue [...]

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