Counsel. of and Financial today including Officer; me Dall, Chief our General Brad team, President Chief Mudd, Nick. Thanks, Bill morning, Good With and our our are Marcia Blackwell, Operating our Officer; several everyone. members
light our walk lot topics. results number our will update cover then an updates some management have and your of all capital our Pacific detail take thoughts in of Tuesday then briefly on We After of in share important will acquisition as Entertainment, and Marcia substantially a of which more of known results announcement our the will provide today. we finishes, assets questions. she XXXX Peninsula strategic the through high-level especially on I strategy, which is to also provide a on PXE. on is of
high-level revenue significant running So restrictions COVID-related billion HRM despite and at the of net our and $XXX first, gaming We adjusted of record some attendance Derby Kentucky EBITDA thoughts results. limitations nearly our continued XXXth despite delivered $X.X on in record properties with million during and on XXXX XXXX the year.
increased adjusted Our This HRM expansion net by increased $X.X by XXXX. growth in our and by driven to $XXX Derby revenue Week, was over million and compared our billion Kentucky, EBITDA Saturday provided Derby regional event fans. along spectators, in limited nice first its The when with businesses. increase return normal a to gaming conducted over the without XXXX Week of May, we
first in continued also saw Derby HRM Kentucky. City the from our for We Grove Oak and benefit year full of of the facility Gaming operations growth
is with particularly down positive from EBITDA expect minutes. our as will TwinSpires to force the Kentucky few Derby, return We Racing in our in momentum detail discuss business Horse full on compared Adjusted XXXX, will in to respect build of the more approximately XXXX other of were up to the to of was XXXX a in operations prior when which I slightly U.S. Thoroughbred facilities all in significantly important XX% to note on brick-and-mortar to and online, which wagers racetracks year nearly wagers wager people were XX% online. It from all that as is to return placed person. still racing
the continues business will after share by in modestly up. and continue growth XXXX XXXX at the based show XX% saw trends for pick to flat second the of nice believe Still level in to out in industry racing We horse around compared to stabilize on segment up in XXXX. growth we wagering in half disruption XXXX, to adjusting that COVID a the online see to organic the expect on We and online pandemic. we story caused an this that
in operations Our we Sports and few with and strategy go-forward we this market line I in regarding space our challenging share the online states. in minutes. books a launched XXXX Casino and various sports and what in conditions business online performed largely very as more will expected developed retail in casino in
to the in and changes drive make improvements line XXXX. some segment bottom We going across are
XXXX margins XXXX All XXXX of our X to our nearly regional up XXXX. casino compared and wholly points in to with compared to XXXX to nearly XX points and up properties gaming owned EBITDA compared grew adjusted compared
do modest see respect costs. As inflation we labor direct and on we to to margins with from pressure XXXX, look other
We the very XXXX. with continue offset it very Overall, there we our to are and are team and believe these impact we positioned in grow this will we has Again, XXXX, can. a we a pleased to work to of results bit be delivered believe to well in growth in where now, right segment appears XXXX. modest that quite we is in
focus updates team. strategic areas X for on our Now of
major casino our second, sports organic investments; online our go First, inspire strategy. to forward and
our related May. last, the Derby fifth of running Third, And and for our our Arlington and this XXXth sales. announcement PXE Calder land Fourth, plans the Kentucky to the recent acquisition.
with First, multiyear growth projects. an at the major Racetrack. our Starting update organic Churchill on projects Downs
the on the premium be seats As Kentucky which is a experiences. provide Homestretch the a schedule will X,XXX includes Club that of Club, operational first reminder, Homestretch for variety is to The Derby. project high-end
by great Club tables as completely anticipate the of out sold accomplishment April, which As stadium is that of Homestretch We seats. sold early will of been the a have team. our today, be dining X/X has the all by and lounges
a XXXth Derby XXXX. The large this turn seating Turn as in temporary Derby project, the in first premium significant accelerate on for lower-end Work designs a will We the ready have begun indoor after add for This Paddock also well XXXX. amount the year underway. work space. And on area Derby of for well new will seating will the replace covered dining be be which overlooking are also the as project will area. will an project next project completed and this Week X
provide a that racing will project fulsome more our addition in earnings Kentucky. to our expect operations spectacular historical be update will on Switching this our and July a call We facility. to
Over the we significant made in out progress Commonwealth. past venues across X years, the have our building
Gaming. Derby with Let's begin City
we up As are and XXX to expanding a additional the we hold XXX-room facility previously to add to HRMs hotel. announced,
also XXXX We some likely additional of adding the Derby. expansion Kentucky hotel the the guests. gaming options our opening for second time quarter the most are quite anticipate We in in by floor and dining not XXXX, end of and entertainment for the
executed we the Street heart Louisville, building Downtown prior Regarding downtown our that announcement South new in build location proximity a great facility of convention is attractions. HRM given an Market facility center for buy Louisville in the to and agreement a other the an this on and corner ideal Fort of to downtown have to Street West its
in designed as a new facility quarter to upon well opening have of attract and XXXX. We We build anticipate locals tourists. theme second our as the Derby to
to Turfway Turning Park.
building a new HRM continue to progress facility. make We great
XXX footprint X,XXX As HRMs a reminder, existing the soon to and as demand expand within to as with up. the plan open ability to ramps we
the accommodate building simulcast supply as double lounge, roofing house events. can club very are room that an and and issues managed gaming will are opening but center well, electrical inflation chain a sports to We've delays some insulation related I for We a a materials X had September materials that team The had mentioned. bar, event now and a plays to accept and supply chain VIP large respect has targeting just area, to grand a the some with facility. we
the on this budget, exciting Tri-State Cincinnati. one, thrilled We are venue to around and we this Northern entertainment on are Kentucky close area and offer line to for the finish
our and Let's on spend Louisiana. minute a OTBs in our HRMs
to team OTBs in been our aggressively working order to Our HRMs. offer has expand
We operational X by quarter. quarter, total of additional by have fourth the We will the to end machines adding HRMs second our end the XX X OTBs operational HRMs and by final the of end approximately plan XXX third of be X quarter XXX the XXX of in HRMs remaining the OTBs approximately OTBs. and OTBs operational and of a XXX across
a all Konami HRM as our of including well Aristocrat We Fortune manufacturers, of of will as and from game. mix Wheel game titles the have popular IGT
project Indiana. were to build Terra Haute in of winning license successful for resort We Haute. Terra Queen our casino and regarding County in called casino the the a Next, plan Vigo destination
an competition X on against this competed bidders were in event We in other the license head-to-head officially in team year. awarded of January November. all-day X public a Our
as possible. the of close Road far the land XX-acre Interstate off Terra Indianapolis XX to We the get Haute area us a exit as have portion purchased XX western of side metropolitan east on of at the to State parcel
are the designs the the property. finalizing all obtaining permits for approvals process and the in We of of required and
We are a the construction late $XXX planning grand will in million start late May project. be to opening $XXX million target This XXXX. in to with
Regarding Casino. Plaines Rivers Des
positions expanding Rivers games, additional garage current a of of positions the and under in existing its and the slot X,XXX resulting on its permitted between north property. facility gaming new facility is on accommodate a building XXX reminder, will based The combination approximately parking the the table As full casino utilizing side the law. expansion games
XX year. gaming our approximately XX We first this slot XXX expansion and of January games. table phase The on opened machines added of
The a XXX of casino on machines, to will the second slot open bar. XX-table approximately and phase poker expansion April new track It on a is new add X. room
open new events solely project flow ballroom foot We capital believe square additional entertainment. a level. debt funded final expect financing cash in for will efficient XX,XXX the Rivers This the entity for space Rivers, we that is very It deployment live phase at and of an and exciting a growth additional and will early third include from and and an May. is private new
Now online and casino let's sports our talk business. about
long-term commitment to the will planned, to committed shareholders. capital the and to capital investment our shareholders is We are had this when we as or value with progressing resources for see building we projects our an growth not and we redeploy that other consistent always return
hopes a in we growth past space. proven for where When for from we high secure the Court shareholders. do federal decisions consistent of return we that ban acceptable business a profitable willing away May the betting to have to path with Supreme XXXX, had this an potential with profitable not in enough businesses U.S. are on build We our the our to sports overturned walk see
line variable in Our iGaming. as cost a bottom was sports and leverage initial disciplined be strategy spend on with and profitability states technology wagering marketing to focus a model online legalized our
our in profitable casinos. sports have books We X retail of
we delivers for state do every path with X sports Many for we competitive in if ever, the online at not that betting a least exit are model see sports ever-increasing the is potentially number Because BXC months. over for with have However, long-term maximum short-term to space regard predictable states profitability. highly an and of us years, and limited licensed. have casino even decided online or the margins space business participants market which betting this iGaming in pursuing and next online several acceptable the share
our to wind have We our combined states on will appropriate where access are where in we rights online down adjusted with the online and operations focus the the profitable, sports do where conduct participants. we casino in as and monetize other on the our will market still sports parties betting the consistently do single-digit and to from operations range for other to rights businesses we slight market receive interest have business. industry drag retail access to from EBITDA so. high retail a We we year seek respect We to expect or
has as next for of forward but This will absolutely margins We business the minimize this We our wanted unique prudent started a is when since its as we and a business can. over profitable Racing line result ago. top the in started that a much as back special just it as sustainable, well remain late the excited company. to with bottom line, growth decade isn't business model business we today to committed demonstrate is and and work continue we we Horse it delivers scalable online TwinSpires this drag that about XXXX, step this
to Casino Next, Calder XXX our previously sell to excess I'll our at to We Link agreement Calder next our our million Arlington to Logistics. $XXX property. the land discuss Park announced for process sell acres and
the obtaining sale second related We exchange. tax rezoning of are the progressing on minimize consequences gain all and anticipate through property. purchaser a the conditions the by We closing through year. of to the the closing quarter sale this We XXXX the needed in the requirements of to intend of the use
facility guests. acres Casino utilizes and its We parking have its retained approximately Calder the for for that XX land of
acres the also long or of additional retained XX XXth in that that is that an along have Avenue Calder be for not redeveloped We Casino the and future. land may necessary sold is Northwest term
the is close Arlington tax the also Heights, XXXX for half transaction minimize to to previously sell approvals, had Arlington of to sale Illinois. into the we facility the to Arlington the $XXX million. on of property XXX-acre Park consequences anticipated first Calder sale use gain announced the The process, to intend Bears related We XXXX. land exchange. of receipt in a property to remaining Similar agreement the to the entered the Chicago Pending we a in Park an is
of regarding agreement assets we made that all Now to PXE. of I'd like substantially announcement to the discuss Tuesday acquire the our
acquisition Downs entertainment the includes XX we entertainment to Lago approximately to racing to Racetrack existing X Waterloo, to In total, press collectively have agreed Colonial Casino to Resort venues in its comes Rock billion of Virginia saw to additional the of development HRM close the & City, for del build transaction As in with Virginia, York Hard Downs venues this Iowa. With historical pay Hotel historical racing Sioux and to up HRMs. machines. up and you Casino operations release, in rights and up Colonial in additional X,XXX $X.X HRM and X,XXX up X our in the to venues New
development active Virginia the call Dumfries are Emporia, in up acquiring as resort several Carolina a X,XXX well the a Virginia, with North border. to new Northern the in including of construction HRMs rights gaming projects, large the which We near HRM as to venue we Project
the to an win are to addition proposed in properties release of the partnership so each this included to projects, for HRM look a casino and to Richmond, I believe In in efforts with Class to it casino today. won't We in. forward project repeat III Virginia. One in of details earlier PXE's also press separate the very rights ongoing this entirely from excited to jumping potential resort develop we We X our all Urban acquire the and right week, these these in
that unique Racetrack the is wheelhouse. the tied Emporia ownership excited existing are our enough expand along discussion all We far expand to other to has opportunity developed footprint of strategically HRM of to to they We in yet managed the be plan and the as grow have about Project operation particularly PXE as set of the and very significantly development the their properties a and HRM venue Downs in much in that and today. and warrant complete well assets Virginia. Colonial Dumfries gaming projects also to
HRM quality and and successful titles has improve improve will opportunities foundation We our upon build PXE to the team from work the to patrons. of to in learned the HRM including available Kentucky, using HRM strong that lessons development built features
very Resort del is facilities our properties wanted We a properties about the a of to and provide think scale Casino. a teams of in we and stable very excited additional Overall, York geographic coming partner this that in incremental we really set Hard for outstanding with and We at show multiple. assets believe Both are opportunities City the our to these good are and We in company. are & attractive our forward New and communities. being significant improvements years be can unique excellent to these company Iowa expands very footprint look operating we strong and Lago performance believe Sioux Rock, in. also states
all operating the teams join in team. We X jurisdictions thrilled also to Churchill the are have
to transaction of close the the transaction. the by will our in it Calder defer end of subject the be XXXX, sale we necessary to PXE that expect expectation approvals. And of the closing the We tax with is from land the game reasonable to the connection on able
Our the Derby final on be run X. May will preparations XXXth topic for the Kentucky which is
returning experience We will and are for capacity an full to amazing deliver everyone.
since our will Week night the including Derby for traditional celebration. time opening Our back first XXXX, be events
In up addition, Kentucky for in to return will Derby charities all, most, parties the celebrations if organizations raise year. various the this that and numerous lead and community the not money month-long
years. yet, soon, haven't for bought both tickets for up missing do Derby demand couple as with been with you a XXXX have record the may last truly that few was strong magic of is better as very your results, options tickets. financial you shaping in summary, remaining the If This tremendous company and EBITDA. well net steek the year's so is for incredibly to the be bit year adjusted our revenue for In all with a Week special
We the expansion our asset, the the Kentucky years PXE now Terra coming Kentucky, project are of and gaming our assets positioned Indiana. are we look our facilities. organic Haute in for ongoing Derby, in investments to growth the of our forward that adding will HRM And and from portfolio making iconic in in to in growing assets HRM we Louisiana entertainment our
January affectionally an company a of was racing. so our was called was Mr. us and to many it champion friend and We passing total I XX D team long-term to term. have mentor our results a And of the Downs. members who best return helping a to of who of a this long-time leaders deliver member, to who build business and all prior to shareholder to also had the for would year, Richard at create Thoroughbred extraordinary and are finally, date are life shareholder over D, like long to and Mr. on Board Churchill investors tireless we our He Duchossois, of grateful our possible helped the recognize our
With then your and that, Marcia, the and turn call will to We will over we humor. his miss questions. Marcia? I'll grace, wisdom take
