XML 114 R99.htm IDEA: XBRL DOCUMENT v3.20.4
Segment Information - Schedule of Adjusted EBITDA by Segment (Details) - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2020
Sep. 30, 2020
Jun. 30, 2020
Mar. 31, 2020
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Segment Reporting Information [Line Items]                      
Net revenues $ 278.2 $ 337.8 $ 185.1 $ 252.9 $ 280.6 $ 306.3 $ 477.4 $ 265.4 $ 1,054.0 $ 1,329.7 $ 1,009.0
Adjusted EBITDA                 286.5 451.4 328.8
Churchill Downs                      
Segment Reporting Information [Line Items]                      
Net revenues                 160.5 289.4 208.5
Online Wagering                      
Segment Reporting Information [Line Items]                      
Net revenues                 409.9 291.6 291.5
Gaming                      
Segment Reporting Information [Line Items]                      
Net revenues                 443.9 694.8 451.2
Operating Segments                      
Segment Reporting Information [Line Items]                      
Net revenues                 1,054.0 1,329.7 1,009.0
Adjusted EBITDA                 324.3 484.9 355.4
Operating Segments | Churchill Downs                      
Segment Reporting Information [Line Items]                      
Net revenues                 142.8 274.2 195.8
Taxes and purses                 (54.1) (66.5) (41.3)
Marketing and advertising                 (4.1) (7.1) (5.7)
Salaries and benefits                 (26.5) (32.0) (23.7)
Content expense                 (1.0) (2.4) (2.2)
Selling, general and administrative expense                 (7.0) (8.0) (5.3)
Other operating expense                 (29.6) (35.9) (28.0)
Other income                 0.1 0.2 0.1
Adjusted EBITDA                 38.3 137.7 102.4
Operating Segments | Online Wagering                      
Segment Reporting Information [Line Items]                      
Net revenues                 408.3 290.5 290.2
Taxes and purses                 (23.7) (15.3) (15.2)
Marketing and advertising                 (16.5) (12.2) (6.0)
Salaries and benefits                 (13.0) (11.4) (9.2)
Content expense                 (204.9) (152.8) (152.0)
Selling, general and administrative expense                 (8.9) (7.2) (5.9)
Other operating expense                 (33.7) (26.4) (24.2)
Other income                 0.1 0.0 0.0
Adjusted EBITDA                 109.3 66.3 79.0
Operating Segments | Gaming                      
Segment Reporting Information [Line Items]                      
Net revenues                 441.4 692.4 449.5
Taxes and purses                 (173.0) (270.3) (153.4)
Marketing and advertising                 (7.5) (21.5) (15.5)
Salaries and benefits                 (75.9) (103.3) (68.9)
Content expense                 (3.5) (6.0) (4.1)
Selling, general and administrative expense                 (25.4) (29.0) (18.6)
Other operating expense                 (60.8) (84.1) (60.0)
Other income                 78.9 100.3 43.3
Adjusted EBITDA                 $ 176.7 $ 280.9 $ 174.0