Churchill Downs Q3: record revenue $628.5M, adj. EBITDA $235.3M; dividend up 7%

Churchill Downs Inc

Net revenue $628.5M (+10% YoY), net income $65.4M (+7%), diluted EPS $0.86 vs $0.79.
Live & Historical Racing rev $252.4M (+12%), Adj EBITDA $93.0M (+15%); TwinSpires rev $118.7M (+6%), Adj EBITDA $42.5M (+25%); Gaming rev $270.3M (+10%), Adj EBITDA $123.3M (+1%).
Annual dividend $0.409/share (+7%); payable Jan 3, 2025 to holders of record Dec 6, 2024; 14th consecutive annual increase.
Repurchased 67,139 shares for $9.0M in Q3; $170.9M remaining authorization under share repurchase program.
Opened The Rose Gaming Resort in Dumfries, VA on Oct 23, 2024 with 1,650 HRMs and 102-room hotel.

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