CDI posts $412m handle during Kentucky Derby Week
Betting activity this year surpassed three previous wagering highs set in 2022.
Churchill Downs Incorporated (CDI) has posted its betting numbers from the Kentucky Derby Day program, as well as figures from the Kentucky Derby Week races. The Kentucky Derby began in 1875 and is known nationwide as the longest continually run US sporting event.
The Kentucky Derby Day program reached a new high regarding wagers placed from all sources, according to the CDI’s official release. All-sources wagers from this year’s program reached $288.7m, surpassing last year’s previous high by nearly $15m.
Bets placed on the race from all sources surpassed 2022’s record, as well. Wagers from all sources for the race climbed to $188.7m, nearly $95m more than during 2022’s race.
Handle for the week reached an all-time high, with new record of $412m.
CDI CEO Bill Carstanjen took a moment to comment on the First Turn debut and said the company expects significant financial growth due to Kentucky Derby week.
He commented: “We were thrilled to debut our new First Turn Experience, a one-of-a-kind premium accommodation with exclusive views of the horses and the racetrack from the rail of the first turn, as we commemorated the 50th anniversary of Secretariat’s victory in the Run for the Roses.
“We expect the Kentucky Derby Week adjusted EBITDA to reflect a new record with $14m to $16m of growth over the prior record set last year. We will now accelerate our focus on our year-long celebration in preparation for the 150th Kentucky Derby in May 2024.”
CDI is a racing, online wagering and gaming entertainment company that hosts the annual Kentucky Derby. It currently operates historical racing machines in Kentucky and was recently issued customary approving licenses by Virginia Racing Commission, the New York State Gaming Commission, and the Iowa Racing and Gaming Commission.
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