Churchill Downs Inc. reported a record net revenue of $980 million for the second quarter of 2026, ending June 30. The company also finalized plans to reacquire its stake in United Tote Company.
Financial results for the period show an 11 percent increase in net income attributable to CDI, reaching $241 million. Adjusted EBITDA also set a new company record at $477 million, representing a six percent rise compared to the previous year.
Kentucky Derby Performance
The 152nd Kentucky Derby held in May generated a record contribution to adjusted EBITDA. Audience metrics for the event showed a peak viewership of 24.4 million, which marks a 12 percent year-over-year increase. The average viewership reached 19.6 million, up 11 percent from the previous year.
United Tote Company Acquisition
Churchill Downs Inc. entered a definitive agreement to purchase the 49 percent share of United Tote Company previously held by New York Racing Association. This transaction restores full ownership of the wagering technology provider to CDI.
CDI originally sold the stake to New York Racing Association in 2024 to support its pari-mutuel wagering systems. The company stated that the buyback aligns with its strategy to vertically integrate key racing technologies and strengthen its position in B2B content distribution.