Churchill Downs Q2 2025: record revenue $934.4M, EPS $2.99, acquires Casino Salem for $180M

Churchill Downs Inc

Net revenue $934.4M (+5% YoY), diluted EPS $2.99 (+$0.20), record Adjusted EBITDA $450.9M (+$6.1M).
Kentucky Derby set all-time records for handle and viewership (avg 17.7M viewers, +6%).
Announced acquisition of 90% of Casino Salem in New Hampshire for $180M cash.
Board approved new $500M share repurchase program; $250.4M repurchased in Q2.
Federal tax bill (H.R.1) expected to increase cash flow; $91.2M deferred tax asset now utilizable.

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