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Churchill Downs Q2 2015 Earnings
ONLINE OPERATIONS PERFORM WELL FOR CHURCHILL DOWNS
US racing company says acquisition Big Fish Games is a key contributor.
The $885 million acquisition of Big Fish Games and an entry into the social casino market has worked well for US racing group Churchill Downs Inc., which posted its second quarter results earlier this week.
CEO Bill Carstanjen singled out the online and mobile operations of the group for praise as the fastest growing division which has become a key contributor to company results.
Online operations generated revenue up 40 percent y-o-y at $112.7 million, with social casino action delivering $48.2 million; free-play casual games $36.5 million and premium games $28 million.
Social casino average paying users rose 24 percent and average revenue per paying user rose 6 percent, whilst free-play casual average player spend rose 173 percent, although premium deposits fell 22 percent - a consequence of a shift to mobile and free-play by players, the company explained.
Online race betting site Twin Spires delivered a 6 percent rise in revenue to $60.7 million, with earnings up 19 percent to $16.7 million on betting handle of $289.4 million - a rise of almost 9 percent.
By comparison, terrestrial horse racing results lagged at a handle of $557.8 million - a y-o-y decline of 16 percent. However, overall terrestrial racing earnings rose 9 percent to $85.2 million.
Churchill's land casino operations reported a modest 2 percent rise in revenues to $83.8 million, with earnings up 7 percent at $28 million.
CDI’s total revenue for Q2-2015 was up 35 percent y-o-y at $409.2 million, with earnings up 34 percent to a record $157.2 million, but net earnings declined 4 percent due to acquisition costs.
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US$30M DUBAI WORLD CUP -
Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines
NHL Odds: Forsberg Faces Elliott in Nashville -
The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.
NBA Odds: Hawks, Wiz in Southeast Showdown -
The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.
NBA Odds: Clippers Try to Slow Down Bucks in LA -
Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.
NHL Odds: Canadiens Welcome Islanders Tonight -
The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.
NHL Odds: Reeling Flyers Seek Relief in Pittsburgh -
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Dollars to Donuts Slot Launch -
Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.
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