Churchill Downs (CHDN) revenue breakdown
By segment, Live and Historical Racing is the largest at 48% of fiscal 2025 revenue, growing 32% a year over 6 years.
By product, Live and Historical Racing is the largest at 48% of fiscal 2025 revenue, growing 31% a year over 6 years.
Revenue by segment
Fiscal years, as Churchill Downs reports them in its 10-K filings; fiscal 2025 total $3.0B.
| Segments | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Live and Historical Racing | — | — | — | $277M | $170M | $409M | $646M | $1.1B | $1.3B | $1.4B | 48% |
| Gaming | — | $389M | $450M | $687M | $435M | $695M | $762M | $975M | $1.0B | $1.0B | 35% |
| Wagering Services and Solutions | — | — | — | $296M | $414M | $451M | $442M | $458M | $501M | $526M | 17% |
| Casino | $333M | — | — | — | — | — | — | — | — | — | — |
| Online Wagering | $222M | $256M | $290M | — | — | — | — | — | — | — | — |
| Racing | $251M | — | — | — | — | — | — | — | — | — | — |
| Churchill Downs | — | $161M | $196M | — | — | — | — | — | — | — | — |
| Other Investments | $17M | — | — | — | — | — | — | — | — | — | — |
Revenue by product
Fiscal years, as Churchill Downs reports them in its 10-K filings; fiscal 2025 total $2.9B.
| Products | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|
| Live and Historical Racing | — | $277M | $170M | $409M | $615M | $1.0B | $1.2B | $1.4B | 48% |
| Gaming | $450M | $687M | $435M | $695M | $756M | $969M | $1.0B | $1.0B | 36% |
| Wagering Services and Solutions | — | $296M | $430M | $451M | $436M | $445M | $470M | $488M | 17% |
| Product and Service, Other | $74M | $70M | $19M | $41M | $3M | $900,000 | $100,000 | $100,000 | 0% |
| Online Wagering | $290M | — | — | — | — | — | — | — | — |
| Churchill Downs | $196M | — | — | — | — | — | — | — | — |
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Where does Churchill Downs make its money?
In fiscal 2025, by segment: Live and Historical Racing $1.4B, Gaming $1.0B, Wagering Services and Solutions $526M.
From Churchill Downs's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.