Casino and race betting operator Churchill Downs Inc (CDI) is heading into this year’s Kentucky Derby on a high note.

Figures released Wednesday by the Kentucky-based CDI show the company generated revenue of $189.3m in the three months ending March 31, a 13% improvement over the same period last year. Adjusted earnings improved more than one-third to $49.2m while net income soared to $182m versus just $7.3m one year ago.

However, that net income stat includes $168.3m from CDI’s sale last November of its Big Fish Games social gaming operation to Australian gaming technology firm Aristocrat Leisure. Factoring out that windfall, CDI’s adjusted net income was a more realistic $15.8m.

CDI’s land-based casino operations led the Q1 revenue parade with $98.1m and adjusted earnings of $44.3m, year-on-year gains of 12% and 25.4%, respectively. CDI burnished its casino portfolio in March via the acquisition of Presque Isle Downs & Casino in Pennsylvania and the Lady Luck Casino Vicksburg in Mississippi.