Churchill Downs Inc. had net income of $42.1 million in the first quarter of 2022, the company announced on Wednesday, after seeing revenue from its casinos in Kentucky and elsewhere enjoy strong growth compared to the first quarter of last year, when some pandemic-related restrictions were still in place. Net-income in the first quarter of this year was up from $36.1 million in the first quarter of last year, according to financial statements accompanying the announcement. Although revenue from the company’s casinos was up in the quarter, revenue for its online wagering business was down compared to the first quarter last year, a consequence of customers returning “to bricks and mortar sites in the current quarter instead of wagering online,” the company said. Total net revenue during the quarter was $364.1 million, up 12.2 percent compared to net revenue of $324.3 million in the first quarter of last year. Total expenses were up 14.1 percent in the quarter, however, from $277.6 million to $316.7 million. Churchill’s “live and historical racing” division – which includes its racetracks and casinos in Kentucky that operate only historical horse-racing machines – had net revenue of $87.2 million in the first quarter, up substantially over net revenue of $64.7 million in the same quarter last year. :: Get Daily Racing Form Past Performances – the exclusive home of Beyer Speed Figures Revenue at all racetrack casinos in Kentucky has increased sharply over the past year as casinos have been freed from pandemic restrictions. Under Kentucky statutes, only racetrack license holders can operate historical horse racing machines, which are similar to slot machines. Churchill owns three such casinos in Kentucky and is building two others, at Turfway Park and in downtown Louisville. Bill Carstanjen, Churchill’s chief executive, said on a conference call on Thursday morning that the Turfway casino is scheduled to open on Sept. 1 with 850 historical horse-racing machines. He also said Churchill has decided to spend $26 million on backstretch improvements at the track, including five new barns. Purses at Kentucky tracks, including Turfway, have skyrocketed in recent years because of subsidies from the devices.  The downtown Louisville casino is expected to open in the second quarter of 2023, Carstanjen said. Revenue for Twinspires.com – which includes several sports-betting sites that Churchill is shutting down – dropped from $105.0 million in the first quarter of last year to $101.4 million, a 3.4 percent decline. Handle for all account-wagering companies skyrocketed during the pandemic as racetracks closed their gates to ontrack customers, but those numbers have begun to decline as people return to live racetracks. The company's “gaming” division – which includes all non-Kentucky casinos - had net revenue of $179.2 million during the quarter, a 16.4 percent jump from the $154.0 million figure last year. In the release, Churchill said that casinos it owns in Florida, Mississippi, and Pennsylvania all had pandemic-related restrictions on attendance during last year’s first quarter. Carstanjen also gave a brief update on the company’s agreement to sell its Arlington Park property outside of Chicago to the NFL’s Chicago Bears. Though the agreement was reached last year, the sale is not expected to close until the second quarter of next year, a timetable that Carstanjen said remains “on track.”  “That’s all I’d like to say about that at this point,” Carstanjen said.