Despite posting record first quarter revenues, Churchill Downs Inc. posted a net loss of $8.67M, or 64 cents per share. Nevertheless, CFO Bill Mudd is ‘pleased with the results’, largely because in the struggling horse racing business, simply opening one’s gates each morning is viewed as a moral victory. Interestingly, racetrack revenues fell while the company’s online wagering service posted gains. But this is Kentucky, I hear you saying — isn’t online gambling a dastardly criminal scourge that must be eradicated from the face of the earth by any means necessary? Now where could we have got that impression from? Read more.
Churchill Downs revenues up, but so are net losses
