Virginia was Churchill Downs’s largest segment in fiscal 2025, bringing in $546.10M of $2.44B (22%).
| Segment | FY 2025 |
|---|---|
| Virginia | $546.10M |
| Churchill Downs Racetrack | $262.40M |
| Louisville | $217.10M |
| New York | $184.50M |
| Southwestern Kentucky | $168.30M |
| Louisiana | $131.40M |
| Indiana | $129.90M |
| Northern Kentucky | $113.20M |
| Maine | $106.50M |
| Pennsylvania | $106.00M |
| Maryland | $99.30M |
| Florida | $97.90M |
| Iowa | $93.90M |
| Mississippi | $93.50M |
| Western Kentucky | $68.70M |
| New Hampshire | $18.90M |
| Total | $2.44B |
Churchill Downs brought in $2.44B from its 16 segments in fiscal 2025, the year ended December 31, 2025. Virginia was the largest at $546.10M (22.4%), ahead of Churchill Downs Racetrack at $262.40M (10.8%) and Louisville at $217.10M (8.9%). The other 13 segments brought in $1.41B combined.
Live & Historical Racing was Churchill Downs’s largest segment in fiscal 2025, bringing in $1.44B of $1.97B (73%).
| Statement Business Segments | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2021 | FY 2025 |
|---|---|---|---|---|---|---|
| Live & Historical Racing | $1.44B | |||||
| Wagering Services & Solutions | $526.30M | |||||
| Gaming | — | |||||
| Gaming Operations | — | |||||
| Twinspires | — | |||||
| Online Operations | — | |||||
| Racing | — | |||||
| Racing Operations | — | |||||
| Casinos | — | |||||
| Casino | — | |||||
| Other Investments | — | |||||
| Corporate | — | |||||
| Total | $1.97B |
Churchill Downs brought in $1.97B from its two segments in fiscal 2025, the year ended December 31, 2025. That is less than the $2.44B it reports by segment, so these segments do not cover all of its revenue. Live & Historical Racing was the largest at $1.44B (73.3%), ahead of Wagering Services & Solutions at $526.30M (26.7%).
Churchill Downs (CHDN) reports its revenue by segment and by statement business segments. In fiscal 2025, Virginia was its largest segment, bringing in $546.10M (22.4% of the total), followed by Churchill Downs Racetrack at $262.40M (10.8%).
Virginia was Churchill Downs' largest segment in fiscal 2025, bringing in $546.10M, or 22.4% of the $2.44B total across its 16 segments.
Every figure comes from Churchill Downs' annual financial filings, as reported. Each line keeps the name Churchill Downs gives it, and years follow its fiscal calendar.
Churchill Downs' revenue by segment goes back to fiscal 2025, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.