Two nearly picture-perfect days, helped propel wagering surrounding the 149th Kentucky Derby (G1) to several Churchill Downs records. The records were wagering from all sources on the Derby race, the Derby Day program, and Derby Week races.
After the conclusion of Saturday’s card, Louisville-based Churchill Downs Inc. reported strong business results for Kentucky Derby week—the cornerstone of the gambling company’s racing division. The company credited improvements at the track—including new first turn seating and higher-end amenities under the Twin Spires offering a simultaneous view of the track and paddock—with aiding those gains.
All-sources betting on the May 6 Kentucky Derby card at Churchill Downs reached $288.7 million, up 5% from last year’s previous record of $273.8 million.
Betting on this year’s 18-horse Derby race (despite five scratches and offset by three also-eligibles running) totaled a record $188.7 million, up 5% compared to last year’s $179 million, which was the prior record, in a 20-horse race.
Derby week handle was a record $412 million, up 5% from last year’s record $391.8 million. Combined all-sources handle of $363.6 million reported for both the Longines Kentucky Oaks (G1) and Derby days also bettered last year’s prior record of $348.4 million by 4%.
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The Derby Day crowd of 150,335 was up 2% from 147,294 last year. The record of 170,513 was established in 2015.
Churchill also reported its TwinSpires.com advance-deposit wagering service seeing $73.6 million in wagering on Churchill Downs races for the Derby Day program, a 9% increase over last year’s record of $67.4 million. The Derby race handle of $47 million for TwinSpires was a record, up 6.8% over last year’s then-record of $44 million.
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.
“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,” said Bill Carstanjen, CDI CEO. “We expect the Kentucky Derby Week Adjusted EBITDA (earnings before taxes and other factors) to reflect a record with $14 (million) to $16 million 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.”
The company reported adding between $7 million-$9 million of growth in 2022 over a 2019 record.
