Churchill Downs Inc. lost $13.9 million in the first quarter of 2005, compared with an $11.8 million loss in the first quarter last year, according to financial figures released Tuesday.
The loss came on revenue of $56.3 million, an increase of 49.1 percent from the company's revenue in the first quarter last year. First-quarter expenses increased 37.7 percent to $65.4 million. Churchill has historically posted a first-quarter loss because of a lack of live racing days.