The 2025 Kentucky Derby generated a lot of buzz, like always. Additionally, this year also marked the return of the legendary Bob Baffert at Churchill Downs. Yet, ticket sales didn’t reflect the excitement. Churchill Downs Incorporated CEO Bill Carstanjen revealed there was “hesitancy” in the “lower-tier tickets” sales. He then said something truly worrying. Carstanjen mentioned the 2025 sales lacked “the endless pool of demand that we’ve seen in prior years.” That wasn’t a good omen.

On Derby Day, the attendance numbers revealed the impact, as there was a 6% (nearly 10,000) drop compared to last year. 147,406 people attended the event, down from last year’s 156,710 and far below the 170,513, 2015 record. However, a recent report and a USA Today poll have flipped the script.

On July 23, 2025, Churchill Downs Incorporated reported its second-quarter 2025 financial results, and the numbers were historic. CDI revealed they had earned an all-time high net revenue of $934.4 million as of June 30, 2025. Interestingly, the growth was nearly identical to the drop in this year’s Kentucky Derby attendance. But, if sales were down, how did CDI make a profit, and what about the poll?

Well, the company chalked it up to the rise in viewership. The Derby recorded its highest average viewership of 17.7 million (up 6% vs. prior year) and highest peak viewership of 21.8 million (up 8% vs. prior year). And while ticket sales may have suffered a bit, Churchill Downs remains one of the top 5 attractions as per USA Today’s ongoing 10 Best Poll.

Of the 20 places listed, Churchill Downs has already climbed to No. 5 on the leaderboard. While voting will last until August 18, the iconic Twin Spires has a great start. What’s more? The Kentucky Derby Museum is currently even higher on the list, second only to Boise State’s Blue Turf. That being said, CDI did significantly curtail its ambitious renovation of Churchill Downs.

No radical makeover for the home of the Kentucky Derby

About three months ago, Sovereignty came back from behind to win the 2025 Kentucky Derby, CDI had announced its ambitious plans to significantly overhaul the iconic racetrack, stands, and much more. While it’s not rare for racetracks to undergo renovations, take the Belmont Stakes, for example; this was a grand $1 billion renovation plan.

The Courier Journal reported that the renovation project would revamp the infield, the Skye Terrace, and much more. Unfortunately, CDI temporarily delayed those plans, just weeks ahead of the Kentucky Derby on May 3. Churchill Downs Incorporated cited the uncertainty surrounding tariffs and construction costs as the reason.

“The decision to delay these construction projects is due to the increasing uncertainty surrounding construction costs related to tariff and trade disputes as well as current macro-economic conditions,” CDI said in its official press release. This, coupled with the lower ticket sales, didn’t paint a pretty picture. However, this massive financial success has certainly changed things.

Although CDI has yet to announce when it plans to resume the $1 billion mega project. For now, it’s going ahead with the curtailed $30 million renovations to the Mansion, the Finish Line Suites, and the Trophy Room. They’ll also add a $10 million maintenance building to the facility. So while the home of the Kentucky Derby won’t get any major overhauls, renovations will follow this historic milestone. And as for the final results of the poll, we’ll have to wait till August 27 for USA Today to announce the winner.