Churchill Downs reports Q3 revenue of $683m, up 9%
Churchill Downs Incorporated reported third-quarter 2025 revenue of $683m, up 9% year on year, with growth led by historical racing venues in Kentucky and Virginia. Net income fell 42% to $38.1m, primarily because of a one-time, non-cash impairment charge tied to Chasers’ gaming rights; adjusted net income rose 7% to $77.1m.
The results show higher revenue alongside a sharp decline in reported net income, relevant to investors assessing the operator’s performance.