Social Gaming Drives Chuchill Downs Revenue Leap
According to numbers announced this week and reported on by CalvinAyre.com, Churchill Downs pulled in $409 million worth of revenue during Q2 2015 (which ended on June 30).
In an earnings report that just about any operator would love produce, Churchill Downs reported Q2 in just about every arm of their very diversified business portfolio.
On the online wagering side of the business, TwinSpires, revenue was up 6% and earnings were up a whopping 16% over the previous. In dollars and cents that comes out to a profit of $16.7 million on sales of $60 million.
The star of the show, however was Big Fish, the company’s social gaming unit, which Churchill Downs CEO Bill Carstanjen described as their, “largest growth catalyst.”
Big Fish earnings were up 40% over last quarter and pulled in $112 million in earnings. The lion’s share of that action, around $48 million, came from their social casino which was up 31%.
Coming up with sales numbers like that is a whole lot easier when you’re posting player number like Big Fish is posting. Paying players at the social casino were up 24% while free-to-play players were up an amazing 173%.
On the land side of the business, Churchill Downs was positively impacted by a very strong spring racing season including big numbers from their signature event, the Kentucky Derby.
Interest in this year’s event was up thanks to American Pharaoh, the horse that ultimately won all three Triple Crown races. American Pharaoh fever helped Churchill Down book an additional $8 million in profits.