CDI’s revenue increased by 36.0% year-on-year in 2023, driven by growth in all core business areas. The live and historical racing segment saw the most significant growth, surpassing the gaming business to become the primary source of revenue.
Revenue from live and historical racing reached $1.05 billion, a 70.4% increase from the previous year. This growth was attributed to the acquisition of Virginia properties as part of the $2.75 billion purchase of Peninsula Pacific Entertainment (P2E) in November 2022.
Revenue from the gaming segment also saw a significant increase, climbing 28.1% to $968.6 million. The acquisition of properties in New York and Iowa contributed $230.0 million in additional revenue, although this growth was partially offset by a $16.9 million drop in revenue from Pennsylvania.
CDI’s adjusted EBITDA reached a new high of $1.02 billion in 2023, reflecting a 39.0% increase from the previous year. The operator also announced plans to open new facilities in Virginia and Kentucky to further drive growth.
