1409 ET - Churchill Downs says wagering from all sources on its Kentucky Derby race, day program and week races notched new all-time highs this year, beating previous records set last year in all three categories. But despite the increase in bets, the company expects adjusted EBITDA for Derby Week to fall $2 million to $4 million from last year. The company had guided for roughly comparable EBITDA for the event during its 1Q earnings call, likely driven by weaker close in bookings and lower-than-expected pricing at its new pavilion, Bank of America analysts say in a research note.(kelly.cloonan@wsj.com)
(END) Dow Jones Newswires
May 05, 2025 14:09 ET (18:09 GMT)
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