Although Churchill Downs Inc. is leaving online US sports betting, the company is still looking for a way to participate in the industry.
During its second-quarter earnings call Thursday, executives were bullish on the idea of selling a new horse racing product to US sportsbooks. CDI announced it was exiting sports betting and online gaming during its February earnings call.
The company announced record net revenue of $582.5 million during the quarter and record net income of $339.3 million. The solid quarter was primarily driven by the 148th running of the Kentucky Derby, which brought in an all-sources wagering record of $391.8 million.
What CDI executives said about sports betting
CDI CEO Bill Carstanjen said on the call: