JPMorgan says that following the Kentucky Derby on Saturday, Churchill Downs (CHDN) expects Derby week EBITDA to increase by $15M-$18M year-over-year, comparable to its guidance for $15M-$20M. The firm estimates the midpoint of the range equates to 10% year-over-year EBITDA growth, and implies Derby week EBITDA totaled around $180M-$185M. JPMorgan has an Overweight rating on Churchill Downs shares.
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