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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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$400k Winner at Bodog Casino -
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NBA : Warriors Win the West; NBA Finals Next -
The Golden State Warriors will play in their third-straight NBA Finals. They completed their sweep of the San Antonio Spurs Monday night, rolling to a 129-115 victory as 12-point road favourites; Golden State opened the season as a –250 chalk to win the Western Conference.
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NHL Odds: Lone Canadian Team Plays on Friday -
“Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.
NBA Odds: Will Cavaliers Be Rusty in Game 1? -
The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.
4 New Microgaming Releases in May 2017 -
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PKR Company Statement Update -
Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.
Microgaming Wins The Spark Award 2017 -
The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.
NHL Predators First Ever Conference Finals Appearance -
With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.
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