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Adjusted EBITDA By Segment
Shows profitability across different segments after removing one-time costs, offering a clearer picture of ongoing operational performance and efficiency.Live & Historical Racing has become the primary EBITDA driver—producing outsized, recurring Q2 spikes tied to Derby seasonality and materially lifting year-over-year EBITDA; management expects further Derby-week upside and is expanding HRMs and ETGs to sustain momentum. Wagering Services is a steady, low-volatility grower, while Gaming remains broadly stable but exposed to localized disruptions (Louisiana HRM cessation, weather). The widening negative “Other” line is an increasing drag—reflecting corporate/project costs—so the company’s strong free-cash-flow and disciplined capex plan are key to fund growth without over-levering the balance sheet.
Date | Live & Hitorical Racing | Wagering Services & Solutions | Gaming | Other | Churchill Downs | Online Wagering |
|---|---|---|---|---|---|---|
Jun 30, 2026 | $318.00M | $52.00M | $133.00M | -$26.00M | $0.00 | $0.00 |
Mar 31, 2026 | $113.00M | $45.00M | $123.00M | -$24.00M | $0.00 | $0.00 |
Dec 31, 2025 | $122.10M | $42.00M | $108.90M | -$26.00M | $0.00 | $0.00 |
Sep 30, 2025 | $116.40M | $46.00M | $123.30M | -$23.40M | $0.00 | $0.00 |
Jun 30, 2025 | $296.50M | $48.00M | $127.30M | -$20.90M | $0.00 | $0.00 |
Mar 31, 2025 | $102.00M | $41.30M | $123.50M | -$21.70M | $0.00 | $0.00 |
Dec 31, 2024 | $101.60M | $37.30M | $120.10M | -$22.40M | $0.00 | $0.00 |
Sep 30, 2024 | $93.00M | $42.50M | $123.30M | -$23.50M | $0.00 | $0.00 |
Jun 30, 2024 | $279.20M | $46.20M | $140.70M | -$21.30M | $0.00 | $0.00 |
Mar 31, 2024 | $100.80M | $39.60M | $122.80M | -$20.70M | $0.00 | $0.00 |