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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.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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