Churchill Downs Inc. reports record 3Q revenue; earnings up 116 percent

Louisville-based Churchill Downs Inc. on Thursday reported record net revenue of $303.4 million for the third quarter, boosting earnings 116 percent.

The growth was driven by an $18.7 million increase in revenue from Big Fish Games, as well as a $4.3 million increase in revenue from TwinSpires, Churchill’s advance-deposit wagering platform, and a small increase from the company’s bricks-and-mortar casinos.

For the quarter, Churchill reported earnings of $8.7 million, up 107 percent from the same quarter of last year, or 52 cents per diluted share, up 116 percent.

Year-to-date, Churchill reported earnings of $81.3 million, up 40.9 percent from the same period last year, or $4.79 per diluted share, up 46.9 percent.

Churchill Downs executives will discuss the results in a conference call at 9 a.m. Friday that can be accessed at churchilldownsincorporated.com, under investor relations.

This story was originally published October 27, 2016 at 5:20 PM with the headline "Churchill Downs Inc. reports record 3Q revenue; earnings up 116 percent."