our morning Officer; Mudd, Marcia General including Good Blackwell, Chief members Chief and everyone. Dall, our Financial our President are several our today Officer; With Bill of Brad Nick. me Counsel. and Thanks, team Operating
We projects. updates share to key have of regarding a number
and financials So, on a and for brief strategic is begin your our questions. plans. Marcia capital she relatively will projects. quarter focus then our today take third provide our be we I our on will happy then review After with the quarter finished, more in-depth update an of comments to on will
First, comments a our on quarter. few third
adjusted September net XX% Our from growth revenues and benefited Derby net acquisition up January year. over year this other of the were in Quarter-over-quarter of things, up prior last was and year. the XX% EBITDA Presque opening Gaming in among Isle of City of revenue
of Wagering of and slight will for I properties net performance encouraging growth few about the of a margin high The a our business. and our minutes. low volume, small primarily our the number stable. velocity exit customers Online to more was that Generally, a due drag segment in quarter, talk the revenue was on
growth of adjusted in Our the Derby result the well in this as a Gaming. Gaming, Miami Isle as EBITDA and Casino of Rivers of increased Presque continued March contributions Plaines City of made year, growth that investment XX% Des quarter we for as the Valley equity
Wagering. Now, I’m Gaming Valley Churchill opportunities, initiatives: brick-and-mortar five organized an Racetrack, Wagering going Downs and growth around Sports of Illinois Miami in to overview and organic provide Kentucky, HRMs Projects expansion Online at
Let’s start with Churchill projects. team major Downs on Racetrack, capital where is working our three
making part quarantine to as year strategy barns increase quarantine construction is of state-of-the-art project veterinarian international well to equine ship completed during of it year and regional easier are will our barns The enable the the to the Louisville, million as care investment medical projects The racetracks. to earlier other the together we quarantine international enable horses participation athletes. will owners. horses medical week, be and Kentucky barns are and XXXX be barns our Park to the equine The Kentucky part will quarantine The equine The our the and at an $X Churchill track expensive of to provided on equine Derby owners during and of less as the center prior rest directly for safety horse this first Downs, announced medical center Derby. initiatives. that Turfway center their
This most finish The be of second sold to seating has guests. for building the another currently that upscale, Running grown line renovation world-class XXX not one main create and area, is also are of the ready completely we for was our significantly of $XX could view special the timing sixth of is in and The for unique exclusive experience opportunity of out time Six most the an now, is XXXX. our in capital tickets a for million project early as premium XXX Row will have experiences all Derby. Interest to and the the on already of call the area the just we Mansion the and yesterday, our XXXX Millionaire’s year, exclusive and May next Kentucky we since announced the Derby with exclusive created Mansion better be area floor amazing Mansion. next to
The most project have third capital undertaken we is at the significant the construction that project track.
track on anticipate a kind along by be term. end seating, the around based and permanent a the and race we covered build and first one outside expect $XXX We stadium cost its that to approximately of hotel complexity the it racing project completed XXXX. a scope million historical We of the facility experience will the machine of will
Kentucky time for original completion XXXth XXXX Derby. called for Our objective May by early in the
extensively However, with time. as we more worked in realized build the needed we to firm, construction architect and we
demand HRM these organic provides a the contemplate hotel growth for obtain a as imagine, future and long-term experiences a the our permits addition The approvals process. we might Derby. to there It plans of This also facility also need for grow. in prerequisite that the company. construction are strong the Kentucky very you for physical for of construction project to foundation for unique potential expansion and host As important is
From bottom way components the top and to seven-storey this describe of to ground our the top floor the the from will the a floor. starting working I is the hotel, project. key up
other will sports covered but will floor, seating to the the First, machine higher sections there price seating, XXXX the adjacent on build point will for X,XXX a will Derby. are replace that capacity temporary the be we in Also than for approximately This existing lower an new priced temporary have ground bar. outdoor facility than new is will built constructing. and we track a approximately with with gaming HRM the that stadium seating which year the improved be guests, location amenities every in
who Kentucky facility provide seats itself, not on or amenities a gaming the the our Derby, by the the and of area affected During otherwise floor this are existing guests, hospitality and X,XXX that project. will have approximately also
facing a Also On ballroom a hold on dining balcony the XXX will second deck tiered be will square XX,XXX for floor, floor, spectacular hospitality covered and party providing there track. the these guests there the track. with X,XXX can two views foot be of the areas Collectively, second additional the a guests. room than more in
the be third there the will XXX for guests. On another race balcony overlooking track floor,
hotel facing through there third be the with track sixth XX balconies. private suites floors, On will
space XX to that the if For allow for will during access with come will the desired. accommodations day suite sleeping Derby, guests each serve and at passes suite the entertainment night
non-track suites sixth eight per passes through be third the floors, there will also facing with access XX On suite.
experience penthouse of panoramic the stretch be up will Derby. entertaining building. XXX dining, there views on the with with on bar the entire through and length sides for presidential balcony balconies. to And seventh finally, a a at there three the six on that suites for will be each floor, windows facing of guests addition, One from track guests four In the floors, will two and the suite the private floor XX
reserved XXX In for and total, approximately available new X,XXX there will rooms be seats Derby. hotel
of other north-south to country, in customers Center, Downs, through Louisville, existing I-XX Derby. our during Churchill the rooms stay have visit City enjoy the will or Week, major our university, and amenities. want will the of of and for of available who at the wonderful Fairgrounds passing X,XXX amenities Outside guests, Convention addition, the facility the additional who hotel access Highway this to just the Derby be hotel Interstate region HRM on a In
excited phase really Obviously, expansion. critically and carefully our correctly execute this We it of major on important. project. is We’re about of this next phases all
to experienced team the that. have do We
quarter Now, let’s Derby the Kentucky. turn organic our adjusted $X.X growth Gaming million City above third expansion our initiative, second perform elsewhere facilities generating to investment. of EBITDA our $XX million the of in in to initial expectations continues from HRM
our preparations what Oak million and build in has are invest team and knowledge at additional our Racing an We and Gaming our Park. are million this of and we City HRM facility, begin Derby building Turfway Grove proud learnings we as applying $XXX $XXX to accomplished
facility terms the couple of began our racetrack of harness and license, Oak racing As area. the ago racing at Grove barn we a under of after completion in promised, the ship weeks our
HRM continuing X,XXX to X,XXX. approval approximately and the regulatory summer facility machines to are build facility HRM targeting We completion. have and open plan to hotel, XXXX are XXX We a for with room the and up
HRM we our XXXX. area. to planned targeting including improvements The Regarding are Thoroughbred per other of construct and begin grandstand a this and other project we of of well quality the of of as addition simulcast of up are to at circuit. Turfway Kentucky the entire ends April the million sports structure by HRM going will facility We across Turfway Park, as acquisition and machines Park indirectly to bar the an summer X,XXX to the and property and $XX increase the demolition facility completion racing recent amenities meet in with
we track the we and upgrade will Downs prep more City Grove, profile area. the and to road add roads Turfway of Park, Derby Derby and We Track, dirt to at Churchill deal will great current new the the additional to one the Race Across barn opportunity. surface Oak Turfway existing look or add have Gaming, races. of Kentucky the a Park perhaps at prep After complement synthetic we’ll race completion, a upgrading Derby
and of to challenge. We full have a to do our potential work forward lot look that to we maximize
growth third of year. law rolls of around Illinois June our Our as this organic a gaming result in projects initiative in expanded that bill three became the
and the third if during payments reconciliation Park the and were that the a have post-contributions would challenging not in the economic to competitive light a to Arlington announced quarter pay environment we for taxes, casino that additional license it returns obtained Arlington increased pursuing license. Park of casino due we First,
at period. for We XXXX awarded committed committed dates and race are if been race race at we to have Arlington also We’ve awarded that to have race dates. XXXX Arlington in in
be to to of other Chicago and other the regulations license Park the there potential to continue Arlington all license be utilized be of more respect Illinois, to for land the are future will with may potential in including where the areas We sports options area economically racing explore the We or for to Illinois locations sports of issued the Arlington Thoroughbred betting by viable. betting it for awaiting plan Board. racing Gaming apply and
Plaines, through gaming expansion. Midwest the own we positions an Second, its in add additional XX% to first gaming of approximately expanded in applied Des permitted has Rivers currently approximately the XXX XXX and do which Casino phase as of is phase for is investment positions second Gaming it equity the in bill. positions Rivers planning in our to under XXX
in of the existing new The land-based including request efforts of is the Gaming phase whereas bill. completion the with first amenities. expansion working utilizing of as an the construction positions pursuing to commence expanded gaming gaming by obtain second requires a to phase the garage parking Rivers space Illinois is for Board renovation permitted approvals, and involves and related required space,
obtains gaming By XXX totaling of of Illinois approval, to out sports the add of Gaming to planning of build is add fourth book, positions to Phase of which and book Illinois do a approval X. is though part sports slot to buildings floor. the positions the incremental machines of so continues fourth eight end bar expected to from end has as unclear. to a the by opportunities will the XXX sports apply table as into to Board Rivers begun evaluate the expansion. betting the existing for Rivers its be subject sports to converted Rivers that also license approximately footprint X Board and as part its the will quarter brewers is games open quarter Phase as Gaming timing approval The soon
end conceptual garage the $XX or will the cash expansion design Construction otherwise parking parking paving by out the facility completed of be for venture. the and be July The million the expansion stages. expansion to will property. credit expected in joint existing of X the the XXXX. the commence is early in of and garage at parking the remains Phase way Phase November funded the X phase of X garage
with is project our Plaines Rivers Illinois third Gaming, with The in Waukegan. in Des in license our Casino partner the Rush joint bid Street
Our of the three Gaming from Gaming to Illinois Waukegan. by bids to bill, bids city was of to by the one to license bill date joint XX of gaming the signed, XXXX, the the that the submitted months bid the Board award has was one Board. forwarded Illinois gaming city the June Waukegan XX, According of the
floor well Our of XXX gaming venture announced expansion gaming and as as and XXX-room floor Valley our Ohio Delaware include our The an $XXX XXXX-car and between garage Cincinnati at million and we the yesterday hotel construction joint with involves growth the which the parking garage hotel expanded fourth to initiative, facility, the of organic North additional VLTs. is Miami Gaming parking a Dayton. project
quarter in years. The are successful support growth in and coming be a its targeting the at the will joint We built completion we It currently which Greenfield XXXX financed the venture no Valley facility XXXX. has Miami continued has expansion it very will debt. since gaming of second level, this in project been
iGaming relates Betting fifth our the legalize of and continue last, growth as to Sports And initiative organic States to it. expansion
through retail wagering Pennsylvania. play. table our and having both operations one and through returns are the slot at sports We mortar two bricks Mississippi generated by and directly betting We pleased in sports and currently retail increased impact premises game Presque the with have is Isle casinos, on in that on
Rising In pending mid-November betting regulatory a Casino with addition, we retail in our launch are going in to sports final Star partnership Indiana approval. through
not this New as systems Jersey being Our multiple Online went our BetAmerica mortar We’ve extremely are market, operators separate and Jersey making XX offers. a used to with any online result each New New skins are our are of Jersey is where test market, saturated the brick strategies. refine the operators platform in I there we a believe for live regulations aggressive year. in permitting and casino. acquisition player earlier It some money.
will not like lifetime and be If may careful. customers we a see it. this Some an below be their States value, to we very we consistently way we where acquire see that will do at don’t amount
return a cannot You up volume. with make per negative cap
each Jersey regulatory believe we’ll Indiana spending our to We and on We have subsequently marketing based focus and online spend for of online offerings and less right rewards in retain pending our and reduced markets saturated, node, our an and markets in needed Pennsylvania online online acquire We to period the approval. the spending profitable in it brick player now the fourth upfront New more time take markets. quarter late extended launching currently in state profitable the mortar not and marketing become may customers. anticipate
to the long-term. as this our build very, in forward business will spending work we be very going We judicious over
we we of did asked to our if City Gaming, years we would the With working to opportunities. that past strategy out That always in organizational resources initiatives. initiatives, supplement Greenfield to our fighting support for chance said, pursuing have and growth been yes. saw Greenfield add that being several to all had we simply is capacity We’ve is of Greenfield Greenfield a build couple our The because acquisitions team of increase land we’ve occasionally additional both over activities well answer our of a question to Derby us. investments. capacity all like to It the have
pursue early brick these sports changes relatively expanded environment the have opportunities. team the new online anticipated our mortar also and and and to to We
grow Our to is feel and up company. ways have we so fortunate to many fired the team
an I’d call Marcia? to management. Now, will Marcia on questions may additional and the update Thank we third have. any the like turn to answer you. on details provide some capital After over to that, you quarter
