How did Churchill Downs' revenue and expenses trend in Q4 2024?

Churchill Downs' revenue was $1.23 billion in Q4 2024, with a significant decrease of -100% from the previous quarter. This decline was accompanied by a corresponding increase in operating expenses, which reached 34.32% of gross margin. Despite the revenue downturn, the company maintained a positive gross margin, indicating that it remained profitable on a per-customer basis.

|code|Ticker|Name|Date|Business Composition|Revenue By Business|market_code|
|---|---|---|---|---|---|---|
|CHDN|CHDN.O|Churchill Downs|20240101-2024|All Other|100000|185|
|CHDN|CHDN.O|Churchill Downs|20240101-2024|All Other|100000|185|
|CHDN|CHDN.O|Churchill Downs|20240101-2024|All Other|100000|185|
|CHDN|CHDN.O|Churchill Downs|20240101-2024|Churchill Downs|2.451E8|185|
|CHDN|CHDN.O|Churchill Downs|20240101-2024|Gaming|2.392E8|185|
|CHDN|CHDN.O|Churchill Downs|20240101-2024|Twinspires|1.066E8|185|
|CHDN|CHDN.O|Churchill Downs|20240101-2024|Churchill Downs|2.451E8|185|
|CHDN|CHDN.O|Churchill Downs|20240101-2024|All Other|0|185|

|code|Ticker|Name|Date|Gross Profit Margin|Operating Expenses|market_code|
|---|---|---|---|---|---|---|
|CHDN|CHDN.O|Churchill Downs|2023 Q4|32.3232||185|
|CHDN|CHDN.O|Churchill Downs|2024 Q1|31.342||185|
|CHDN|CHDN.O|Churchill Downs|2024 Q2|38.6879||185|
|CHDN|CHDN.O|Churchill Downs|2024 Q3|35.9604||185|