BUSINESS

CDI sees online contribution continue; Tipp24 figures impressive; Space Invaders on the way

TAGs: churchill downs incorporated, fremantle media, space invaders, Tipp24

120507 Churchill Downs 2Churchill Downs Incorporated has posted increased net revenues in the first quarter of 2012 compared with last year. As a part of this, their online business saw revenues increase by 20 percent compared with the previous year with TwinSpires.com seeing an increase of 15.2 percent in handle thanks to what the firm called “new customer growth”. Does that mean they now carry more ads for diet products? Who knows.

Online EBITDA rose 38 percent year-on-year and the business as a whole posted a five percent rise in net revenues to $138.2 million. Robert Evans, Chairman and Chief Executive Officer for Churchill Downs, added: “Historically, the seasonal nature of our racing operations resulted in losses for the quarter but the diversification of our business model into our gaming and online businesses more than offset first quarter losses from racing.”

German based gaming industry firm Tipp24 has reported some impressive figures for the first quarter of the year. Consolidated net profits improved 15.5 percent to €8.7 million whilst the company’s EBIT was up 3.5 percent to €12.04 million. Non-German based customers was again where the company made its money with revenues of €35.9 million – an increase of 5.2 percent. Germany remains a difficult market thanks to the regulatory landscape. It means they only took revenues of €100,000 and a statement from the company read: “Due to the prevailing regulatory situation, however, business on the German market is still highly restricted”. For the remainder of 2012 they expect to “reach earnings before interest and tax result of at least €35 million on revenues of at least €130 million”.

FremantleMedia has teamed up with Square Enix to release one of the world’s most memorable video games as a slot. The two-year deal means SPACE INVADERS is being made into an online slot and will be available via the OpenBet and GTS platforms later this year. The target is UK and European players and Simon Murphy, head of gambling EMEA at Fremantle, admitted: “We are thrilled to be introducing the iconic and globally recognised SPACE INVADERS into the gambling space for the first time.”

Comments

views and opinions expressed are those of the author and do not necessarily reflect those of CalvinAyre.com