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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.



Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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