Unlike the 150th Kentucky Derby (G1) itself, where winner Mystik Dan edged Sierra Leone by the closest of margins, no photo was needed to determine if the business records for Churchill Downs Inc. were a winner or loser. Records were established for wagering on the Kentucky Derby race, full day wagering, and betting for the week.
After the conclusion of the May 4 card, Louisville, Ky.-based CDI reported strong business results for Kentucky Derby week, which is a huge driver for the gambling company's racing division. The company credited improvements at the track—including a new $200 million paddock and all of its premium seating—with aiding those gains.
All-sources betting on the May 4 Kentucky Derby card at Churchill Downs reached $320.5 million, up 11% from last year's previous record of $288.7 million.
Betting on this year's 20-horse Derby race totaled $210.7 million, up 11% compared with last year's previous record of $188.7 million for that 18-horse race. Handle typically rises with larger fields.
Derby week handle was a record $446.6 million, up 8% from last year's previous record of $412 million. Combined all-sources handle of $395.8 million was up 9% compared to the prior record of $363.6 million reported last year for both the Kentucky Oaks (G1) and Derby days. The Oaks set records despite intermittent showers during the afternoon and a sloppy track.
The Derby day crowd of 156,710 was up 4.2% from last year's 150,335. The record of 170,513 was established in 2015.
Churchill also reported its TwinSpires.com advance-deposit wagering service saw $92.1 million in wagering on Churchill Downs races for the Derby Day program, a 22% increase over last year's record of $75.5 million. The Derby race handle of $60.9 million for TwinSpires was a record, up 25% over last year's then-record of $48.9 million.
With two horses in the race from Japan, all-sources wagering from Japan was $10.1 million, eclipsing the previous record of $8.3 million from 2022. Forever Young finished third and T O Password finished fifth.
As in prior years, the Derby growth continues to improve the company's earnings before taxes and other factors are taken into account, the company said in a release.
"The Kentucky Derby is a testament to the enduring spirit of sportsmanship, unity, and the power of tradition," CDI CEO Bill Carstanjen said in a statement. "We were honored to debut our transformational new paddock as we celebrated this milestone 150th Run for the Roses. The new paddock has fundamentally enhanced the experience of all of our guests as they pass through our front gates and is a steppingstone to the next chapter of this time-honored event. ... As we reflect on 150 years of our storied past, we remain committed to innovating new experiences for Derby fans."
The company said it expects Derby week adjusted earnings to be a record growth of $26-$28 million over the prior record set last year when $14-$16 million was added over a 2022 record.
