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Online Betting Important for Kentucky Churchhill Downs
Friday April 25 ,2014 : ONLINE OPERATIONS AN IMPORTANT GROWTH AREA FOR RACING COMPANY
Kentucky's Churchill Downs discusses its growing interest in the online channel.
At a press conference following the release of the company's latest quarterly results Thursday the management of Churchill Downs revealed that the online wagering channel was an important element in plans for the future growth of the business.
Chairman and CEO Bob Evans told the Courier-Journal newspaper that the medium has been identified as an important future growth area for the company if state-by-state and federal questions regarding its legality can be resolved.
"We believe that over time the Internet gaming market in the U.S. will develop into a significant opportunity for us and for others as well, of course," Evans said.
"We plan to be a significant player in that. We'll continue to make the investments at about the current rate, at least through the rest of this year, in building the technology platform, which I think we've got some real advantages in. And we've got a long-term view on this.
"We can't make states legalize Internet gaming any faster than they would otherwise. But as that occurs, we want to be a player."
Chief Financial Officer Bill Mudd said the company spent $1.1 million in each of the last two quarterly reporting periods on platform development.
Revenue from online gambling operations in Q1 was $46.1 million, up 7 percent, and revenue from racing operations was $30.6 million, up 10 percent.
Management reported that the company's account-wagering site, Twinspires.com, was up 8.8 percent in the quarter, at a time when the racing industry is struggling overall. Twinspires.com had handle of approximately $1 billion in 2013 - almost 10 percent of all handle in the United States, making the account-wagering company the online market leader.
NHL Odds: Toronto Maple Leafs vs. Washington Capitals on Tuesday -
Auston Matthews and the Toronto Maple Leafs touch down in DC this Tuesday (7 PM ET on TSN) as one of the hottest teams in the NHL. They've tallied a ridiculous 26 goals through only five games played; that's more than five goals scored per game on average. They'll be up against an equally potent Washington Capitals team.
Pro League Reveals Sportradar Contract Details -
The partnership between the PLC and Sportradar aims to provide a high-quality level of service to all Arabian Gulf League stakeholders in addition to making verified official data about players performances available to coaching and scouting staff and supplying match information to media outlets.
NFL Odds: Steelers Visit Undefeated Chiefs #TNF -
The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.
Mega Moolah strikes again -
The jackpot was hit on a mobile device on Sunday 1 October 2017 by a UK player on Betway, this time awarding a £1,448,116.31 pay day.
2 New Slots For Microgaming Casinos -
David Reynolds, Games Publisher at Microgaming, comments: “On top of our branded title game Halloween, we’re delivering two more slots this October, each bringing exciting features and a different theme.
MLS Odds: Red Bulls vs. Whitecaps -
The New York Red Bulls (12W, 12L, 7T) haven’t won a match since August 15, but they’re –165 favorites this Saturday against the visiting Vancouver Whitecaps (15W, 10L, 6T), beginning at 5 PM ET. Vancouver is a +475 underdog with the draw priced at +285.
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