This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Churchill Downs Incorporated Reports 2010 Fourth-Quarter And Year-End Results

  • Gaming Business Fuels 24-Percent Year-Over-Year Increase in Net Revenues from Continuing Operations Setting New Record for Net Revenues
  • Growth of Gaming and Online Businesses Produces Record Full-Year EBITDA of $80.4 Million and Record Fourth-Quarter EBITDA of $8.0 Million
  • Net Earnings from Continuing Operations Increase 11 Percent Year-Over-Year

LOUISVILLE, Ky., March 14, 2011 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated ("CDI" or "the Company") (Nasdaq:CHDN) today reported business results for the fourth quarter and year ended Dec. 31, 2010.

2010 Year-End Results of Operations:

Net revenues from continuing operations for the full year 2010 were $585.3 million, an increase of $114.8 million, or 24 percent, over the prior year's net revenues from continuing operations of $470.5 million. The growth in net revenues from continuing operations was due primarily to the operation of Calder Casino, which opened on Jan. 22, 2010, the Company's acquisition of the business and the continuing growth of CDI's Online business segment, including its branded account-wagering platform,

EBITDA (earnings before interest, taxes, depreciation and amortization) grew to $80.4 million in 2010, an increase of 23 percent, from 2009's total of $65.5 million. Gaming EBITDA increased by $10.2 million year over year due to the opening of the Calder Casino, improved results from Fair Grounds' slot machine gaming facility and the addition of Harlow's Casino Resort & Hotel ("Harlow's"), which the Company acquired in December 2010. Additionally, EBITDA from CDI's Online business increased $3.3 million as the Company benefited from the June 2010 acquisition of, which was operationally integrated with in November 2010.

Net earnings from continuing operations for 2010 were $19.6 million, or $1.26 per diluted common share, compared to net earnings from continuing operations of $17.7 million, or $1.27 per diluted common share, for the prior year.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs