Racing and ADW drive growth for Churchill Downs in 2018

first_img Topics: Casino & games Finance Sports betting Strategy Poker Slots Table games Horse racing Regions: US AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 28th February 2019 | By contenteditor Tags: Card Rooms and Poker Online Gambling OTB and Betting Shops Race Track and Racino Slot Machines Subscribe to the iGaming newsletter US racetrack and casino operator Churchill Downs Incorporated (CDI) has cited its racing and online advance deposit wagering (ADW) divisions as key drivers of a 14.3% year-on-year increase in revenue for 2018.Revenue for the year ended December 31, 2018 grew to $1.01bn, boosted by a 6.8% increase in revenue from the racing division to $295.4m. This was driven by a successful Kentucky Derby and Kentucky Oaks week perfomance, the highest profile week in the US racing calendar. This, CDI said, helped offset a $1.8m decline in revenue from its Arlington racetrack, and a $0.4m dip in revenue from other sources.The online wagering division, which offers online advance deposit wagering under the TwinSpires brand across 30 states, also enjoyed a strong year. Net revenue was up 16.1%, due to handle growth of 8.3%, which beat the US throughbred industry average by five percentage points, and new accounting standards which shifted the classification of net revenue, marketing and content operating expenses. This division will include results from CDI’s licensed sportsbook offering in New Jersey, which launched in January this year.The casino division also grew, with revenue up 17.3% to $411.2m. This operating segment was boosted by a number of developments, namely CDI consolidating the Ocean Downs racino in Saratoga, New York from September 1, 2018, which contributed an additional $25.9m to the full-year total.CDI noted that growth was also aided by an $11.2m increase in revenue from the Oxford Casino Hotel in Maine, with the hotel and an expanded gaming floor opening to customers in December 2017. The Florida-based Calder Casino, meanwhile saw revenue grow $10.7m, due in part to a competitor being closed as a result of Hurricane Irma, which hit the state on September 10.The operator also saw revenue from other investments grow 59.5% to $37.8m, which CDI attributed to the opening of the Derby City Gaming facility in Kentucky in September last year. CDI’s social gaming arm Big Fish Games, which was sold to Aristocrat Technologies in January 2018, is not included in net revenue, operating income and adjusted EBITDA.Despite the growth in revenue CDI managed to keep costs under control. Total operating expenses were up 11.3% year-on-year at $188.8m, as a result of marginal increases across most divisions, with casino expenses of $284.1m the largest single cost base. In total, operating profit for the year amounted to $182.6m from continuing operations. Adjusted earnings before interest, tax, depreciation and amortisation was up 15% year-on-year at $328.8m.However the operator saw income boosted by net income from discontinued operations totalling $170.2m, as well as benefitting from a number of US tax changes. It received $42.3m net of tax gain on the transaction to acquire the stake in the Ocean Downs property.CDI’s income tax bill for the year was also reduced by $27.0m as a result of the federal corporate income tax rate being cut from 35% to 21%, effective January 1, 2018. In addition, the fourth quarter of 2017 saw the operator hit with a $26.5m non-cash, after-tax asset impairment charges and losses on the extinguishment of debt, which did not reoccur in FY2018. This, CDI noted, made it hard to compare profits on a like-for-like basis.This was partially offset by a non-recurring $57.7m provisional tax benefit recorded in Q4 2017, and a $5.5m after-tax increase in higher transaction costs and pre-launch expenses related to Derby City Gaming.Excluding these items, CDI’s 2018 net profit grew by an additional $27.6m, due to a $21.8m after-tax increase driven by the strong results of its operating segments and equity income from unconsolidated affiliates. It also saw net interest expenses decline by $5.8m, as a result of the business having lower outstanding debt.This resulted in CDI posting a net profit of $352.8m for 2018, of which $170.2m came from discontinued operations. In comparison, 2017 net profit stood at $140.5m, of which $122.4m came from continuing operations, with $18.1m from discontinued elements.For the fourth quarter of 2018, revenue was up 22.4% at $219.0m, with all operating segments reporting year-on-year growth. However, net profit for the quarter was down 70.2% year-on-year at $11.4m, with the 2017 figure skewed by a non-recurring $77.8m income tax benefit. Racing and ADW drive growth for Churchill Downs in 2018 US racetrack and casino operator Churchill Downs Incorporated (CDI) has cited its racing and online advance deposit wagering (ADW) divisions as key drivers of a 14.3% year-on-year increase in revenue for 2018. Casino & games Email Addresslast_img read more

CDI to reopen five more US casino properties

first_img Email Address Casino & games AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 12th June 2020 | By contenteditor Regions: US CDI to reopen five more US casino propertiescenter_img Topics: Casino & games Subscribe to the iGaming newsletter Churchill Downs Incorporated (CDI) has announced that it is to reopen five more of its casinos across Florida, Louisiana, Maryland, Ohio and Pennsylvania.Casinos will begin to resume activities from today (June 12), with CDI to stagger the reopenings across the next seven days, after all of the locations were forced to temporarily close due to the novel coronavirus (Covid-19) pandemic.Calder Casino in Miami Gardens, Florida, and the Lady Luck Casino Nemacolin in Farmington, Pennsylvania, will both reopen today.Fair Grounds Race Course & Slots in New Orleans, Louisiana, will then reopen tomorrow, following CDI’s decision to resume activities at its 12 off-track betting locations in the state last month.Ocean Downs Casino in Berlin, Maryland, and Miami Valley Gaming – the 50-50 50 joint venture with Delaware North in Lebanon, Ohio – are both scheduled to reopen to customers from June 19.Read the full story on iGB North America. Churchill Downs Incorporated (CDI) has announced that it is to reopen five more of its casinos across Florida, Louisiana, Maryland, Ohio and Pennsylvania.last_img read more

Ireland back new faces against Italy

first_imgJacob Whitehead looks ahead to the first weekend of autumn Tests in the northern hemisphere for 2020 “It’s been a long time and the players are excited. We can’t wait now. It’s a game to get us back into our stride.” Head coach Wayne Pivac discusses key talking from today’s team announcement. #FRAvWAL ⑊ #HWFN pic.twitter.com/vku2HLRtdZ— Welsh Rugby Union (@WelshRugbyUnion) October 22, 2020Some had thought Pivac may use the France game as an opportunity to experiment, but the former Scarlets boss has gone with experience – Alun Wyn Jones, Justin Tipuric, Taulupe Faletau, Dan Biggar, Jonathan Davies, George North and Leigh Halfpenny all start.Davies, who is back after a long-term knee injury, is forming a new centre pairing with Nick Tompkins, which is sure to excite Welsh fans.The big news though? Louis Rees-Zammit is set to be given his first taste of Test rugby having been named on the bench. It’s a good thing this game isn’t under the roof in Cardiff – things might just get a little too hot with the Gloucester man’s searing speed. LATEST RUGBY WORLD MAGAZINE SUBSCRIPTION DEALS Ireland back new faces against ItalyInternational rugby is back in the northern hemisphere! The next two weeks will see the Six Nations finally finished – a competition which began on the 1 February and will see its champion crowned on Halloween. There could have been babies conceived, born and picked as an apprentice by Eddie Jones in that timeframe.And then it’s out with the old and in with the new as the inaugural Autumn Nations Cup kicks off, with Fiji and Georgia coming into the mix for four straight weeks of Tests.This first weekend of rugby is a bit of a strange one, with one Six Nations fixture mingling with friendlies, but there’s still plenty to be looking forward to as Test rugby kicks off once again…Ireland back new faces against Italy Ireland v Italy, 3.30pm, Saturday 24 October, Aviva Stadium, Live on ITVSpring is usually the time to freshen up, but Andy Farrell resisted the temptation to make any wholesale changes from the Joe Schmidt era back in February. His first game in charge, a 19-12 win over Scotland, saw only the debuts of No 8 Caelan Doris, who was unfortunate to go off early with a head injury, and hooker Ronan Kelleher, who was a late introduction off the bench.In contrast, Saturday afternoon’s Six Nations game against Italy in Dublin has seen a raft of players given a chance, with Leinster players in particular rewarded for rich provincial form.Hugo Keenan, fresh from beating Beauden Barrett’s bronco during lockdown, starts on the left wing. A graduate of Ireland’s sevens programme, his pace is almost as impressive as his rugby nous – he reminds me of Australia’s Dane Haylett-Petty.Powerful openside Will Connors will make his debut alongside Doris and CJ Stander in a back row that is an impressive carrying unit.Without wanting to get drawn into a debate on rugby’s residency rules, by far the most controversial selection decisions have taken place at half-back. Ulster’s John Cooney didn’t make Farrell’s squad for the autumn after a drop in provincial form. His replacement is Jamison Gibson-Park, who has represented the Maori All Blacks and is selected on the bench for this match ahead of Leinster team-mate Luke McGrath.There are a couple of other interesting selections in the Irish team. Jacob Stockdale will fill in at full-back after Jordan Larmour’s injury, while Tadhg Beirne is given a chance to nail down the second-row berth alongside James Ryan. It would take a braver gambler than me to bet against Beirne staking his claims for the Lions in the coming games.Finn Russell in untested waters Scotland v Georgia, 7.30pm, Friday 23 October, BT Murrayfield, Live on ITV4Look back to February and the world seemed all so very different. Social distancing was something you did to avoid small talk at parties, Wasps were languishing in the bottom half of the Premiership table and Finn Russell wasn’t being considered for international selection.Moving forward: Scotland coach Gregor Townsend with fly-half Finn Russell (Getty Images)It’s a story we all know well – a fallout on the eve of the Six Nations between Russell and Gregor Townsend saw the fly-half sent home.Yet Scotland still had an impressive start to the Six Nations. They lost to Ireland in a game they really could have won (how long ago does it seem since Stuart Hogg dropping the ball was a thing?!), and were only narrowly beaten by England in a pestilence of rain one week later.A 17-0 beatdown of Italy followed, before Russell’s replacement, Adam Hastings, played brilliantly well in an impressive 28-17 win over leaders France. Second place in the championship is a real possibility.Relationships often need space, and lockdown provided that breathing room for Townsend and Russell to get their partnership back on track, with the Racing stand-off returning to the squad for the autumn fixtures. But what will Scotland look like now?We know from his time at Racing that Russell stars when he is the boss – a team he can quarterback, built in his image. Will he ever be able to have this level of control for Scotland again? And what about Hastings, who will surely not be content to roll over and lose the shirt, a man who Townsend will justifiably feel some loyalty towards after his Six Nations exploits?Hastings has the start on Friday night against Georgia, with Russell on the bench. Can the Glasgow man hold off Russell’s challenge for the all-important Wales clash at the end of the month? Or could the pair be named in the same back-line at ten and 12, as discussed in the current issue of Rugby World magazine? Can’t get to the shops? You can download the digital edition of Rugby World straight to your tablet or subscribe to the print edition to get the magazine delivered to your door.Follow Rugby World on Facebook, Instagram and Twitter. Curious GeorgiaScotland v Georgia, 7.30pm, Friday 23 October, BT Murrayfield, Live on ITV4After every lopsided Italy loss comes the guttural call from certain corners to include Georgia in the Six Nations. They’re not quite there yet – but the next few weeks are their best chance to make it. Like a twirling ballerina, the spotlight is upon them – let’s hope for some style as well as scrummaging.Remember, this is what Georgia have been asking for. With this warm-up against Scotland before four Autumn Nations Cup fixtures, they’ll be playing five top-tier nations in a row – a far cry from the odd International or a World Cup every four years.Starter at ten: Tedo Abzhandadze on the attack for Georgia (Getty Images)Coach Levan Maisashvili has said his team will treat the Murrayfield clash as a warm-up – the Lelos playing an experimental team, with only six players retained in the starting XV from their final World Cup match against Australia last year. They’ve also got some interesting new coaching appointments, with ex-Gloucester DoR David Humphreys joining as a high-performance consultant for the tournament.Keep an eye out for fly-half Tedo Abzhandadze. He’s only 21, but is a player capable of some quite gorgeous touches – the Georgian Jalibert.Which of France and Wales can kick their year back into gear? France v Wales, 8.10pm, Saturday 24 October, Stade de France, Live on ITV4 & S4CMomentum is massive in sport. France had plenty of it in this Six Nations until a Mohamed Haouas punch, a loss to Scotland and an enforced seven-month break from rugby almost destroyed their best chance of a Six Nations title in a decade.Back in: Vincent Rattez returns to the France line-up to face Wales (Getty Images)Still, coach Fabien Galthié can call on an almost identical XV from the spring, with wing Vincent Rattez the only personnel change from France’s Six Nations game against Wales, coming in for centre Arthur Vincent, who moves to the bench – remarkable consistency after such a long break.They will also come into the game against Wayne Pivac’s side with confidence, their 27-23 triumph over Wales in February arguably their most impressive performance since the 2011 World Cup.Speaking of momentum, Wales are desperate for a little of their own. The Six Nations saw them slump to three successive defeats in games against Ireland, France and England, meaning next weekend’s game against Scotland is suddenly crucial if they want to avoid a fifth-place finish. Taking charge: Andy Farrell at Ireland training ahead of the Italy game (Inpho) last_img read more

Age-friendly Limerick

first_imgCelebrating a ground breaking year in music from Limerick RELATED ARTICLESMORE FROM AUTHOR Advertisement Watch the streamed gig for Fergal Nash album launch #HearThis: New music and video from Limerick rapper Strange Boy WhatsApp Previous articleBeauty and the ballNext articleFree art exhibition Guest Writerhttp://www.limerickpost.ie LIMERICK will soon enter the Age Friendly County programme, a nationwide initiative aimed at making Irish counties a great place in which to grow old. The programme, which works from the premise that older people are a valuable resource to their communities and to society in general, was widely welcomed by both city and county council. The initiative will seek to form on alliance of senior managers across the local authorities, health service, police, business community, voluntary organisations and academic institutions, with representatives from the Older People’s Forum, chaired by the county/city manager. For more information see www.agefriendlycounties.comSign up for the weekly Limerick Post newsletter Sign Up Emma Langford shortlisted for RTE Folk Award and playing a LIVE SHOW!!! this Saturday Printcenter_img #SaucySoul: Room 58 – ‘Hate To See You Leave’ Twitter Email Linkedin TAGSAge FriendlyagefriendlycountiesMusic Limerick Facebook NewsLocal NewsAge-friendly LimerickBy Guest Writer – May 10, 2013 527 New Music: 40Hurtzlast_img read more

Australia, Serco Change Terms of Armidale Deal

first_img View post tag: Armidale Australia, Serco Change Terms of Armidale Deal Back to overview,Home naval-today Australia, Serco Change Terms of Armidale Deal View post tag: Australia Australian Government and Serco Group have reached an agreement to amend the terms of the company’s contract to provide in-service support to the Navy’s fleet of Armidale Class Patrol Boats (ACPB). The company has negotiated to shorten the onerous contract which previously ran to 2022. According to the company’s statement the contract will now end in 2017. Under the terms of the Settlement and Amendment Deed, both parties have agreed to a mutual release of claims they may have had against each other prior to the point of contract amendment.Serco will provide maintenance and remediation work on an agreed cost recovery basis, but under improved standards, as the agreement states.The ACPB contract was subject to an Onerous Contract Provision (OCP) which had Serco pay USD 206,1 million at the end of 2014, reflecting anticipated future losses through to 2022, together with a further charge of USD 100 million relating principally to the impairment of receivables.Although a detailed assessment of Serco’s contracts subject to OCPs will be carried out at the year end, the company expects the ACPB contract amendment will result in a significant decrease in the overall level of the Group’s provisions against future contract losses.Rupert Soames, Group Chief Executive Officer, said:Today’s amendments represent an equitable solution for both parties. We remain absolutely focused on delivering the highest standard of operational performance on this challenging contract and continuing to support the Australian Defence Force as we have for nearly twenty years.The provisions against the ACPB contract represented approximately 30 percent of the Group’s OCPs charged at the end of 2014 and ACPB was the single largest OCP. The Group utilised USD 24,2 million of the ACPB provision in the first half of 2015.Image: Australian Navy November 11, 2015center_img View post tag: deal View post tag: Serco Share this article Authoritieslast_img read more

USS Carney enters Ukrainian Black Sea port of Odessa

first_img Authorities View post tag: Odessa View post tag: Black Sea US destroyer USS Carney enters Ukrainian port of Odessa US Navy’s Arleigh Burke-class destroyer USS Carney (DDG64) arrived at the Ukrainian Port of Odessa on December 8, three days after entering the Black Sea.This is the destroyer’s second Odessa visit within a year.In July last year, Carney pulled into Odessa before taking part in the international exercise Sea Breeze 2017.The destroyer is set to stay in Odessa until January 11 and will continue its Black Sea tour with port visits to Bulgaria, Romania and Georgia.As stated by the US 6th Fleet, the forward-deployed USS Carney is on a routine patrol conducting naval operations with allies and partners in the 6th Fleet area of operations to advance security and stability in the European region.In 2017, Odessa hosted a number of NATO warships including US destroyer USS James E. Williams (DDG 95), Royal Navy Type 45 destroyer HMS Duncan and French La Fayette-class frigate FS Guepratte (F-714) Back to overview,Home naval-today US destroyer USS Carney enters Ukrainian port of Odessa Share this article January 8, 2018 View post tag: US Navy View post tag: Ukraine View post tag: USS Carneylast_img read more

City of Elkhart, Martinsville Police Facing Lawsuits After Deleting Facebook Posts

first_imgCity of Elkhart, Martinsville Police Facing Lawsuits After Deleting Facebook PostsOlivia Covington for www.theindianalawyer.com FacebookTwitterCopy LinkEmailShare After preventing local residents from commenting on their official Facebook pages, the city of Elkhart and the Martinsville Police Department are being sued for alleged violations of citizens’ First Amendment rights.The ACLU of Indiana filed lawsuits against the two municipal entities Friday on behalf of Richard Wolf, Elkhart, and Carole Bare, formerly of Martinsville, after they were blocked from the Elkhart city and Martinsville police Facebook pages last year.Wolf, who the ACLU described Friday as an advocate for people with disabilities, was blocked from the city of Elkhart’s Facebook page in 2015 after he posted concerns on the page about perceived violations of the American with Disabilities Act at the Lerner Theatre in Elkhart. Specifically, Wolf accused the theater of not having enough accessible parking for disabled customers. According to a Friday release from the ACLU, Wolf’s comments were removed and he was blocked from posting on the Facebook page.Similarly, Bare, who now lives in Sullivan, posted criticism of the Martinsville Police Department on the department’s Facebook page last fall and was subsequently blocked from posting additional comments on the page. Her original post was also removed, according to the ACLU.In the suits, which were filed in U.S. District Court for the Northern District of Indiana, South Bend division against Elkhart and in the Southern District of Indiana, Indianapolis division against the city of Martinsville, Wolf and Bare contend that blocking them from posting on government-run social media is censorship and is in violation of their First Amendment rights to free speech.“When a government entity opens up a space for public comment, it cannot regulate those comments based upon someone’s viewpoint,” Jan Mensz, ACLU of Indiana staff attorney said in a Friday statement. “A citizen’s right to criticize their government is at the heart of what the First Amendment is meant to protect, and the municipalities, in these cases, violated that right.”The ACLU previously filed a similar lawsuit on behalf of Kymberly Quick and Deborah Mays-Miller, two Beech Grove residents whose Facebook posts that were critical of Beech Grove and its police department were taken down. The city eventually settled that suit, with each of the plaintiffs receiving nearly $7,500 each in costs and attorney fees.Vlado Vranjes, corporation counsel for the city of Elkhart, said Monday that he was aware of the filing, but that the city had not yet been served with the suit. Once Vranjes is able to review the suit, the city will file a response, he said.Martinsville Police Chief Matt Long, who was sworn in as chief in late September, said he was not aware of the suit. Long said he was familiar with Bare, but had not heard anything about the 2015 Facebook incident involving her since he became chief. Martinsville city attorney Dale Coffey also said he had not seen the suit as of noon Monday.The cases are Richard Wolf v. City of Elkhart, Indiana, 3:16-cv-00690, and Carol Bare v. City of Martinsville, Indiana, 1:16-cv-2683.last_img read more

Indiana requests federal waivers to support timely medical service

first_img Susan Stroud screens a customer at a Witham Health Services drive-through Community Viral Screening center, Thursday, March 19, 2020, in Whitestown, Ind. Indiana’s governor has ordered all public and private schools across the state remain closed to students until at least May 1 among steps aimed at slowing the coronavirus spread. (AP Photo/Darron Cummings) The State of Indiana has submitted a waiver to the federal government to support the delivery of necessary health care during a national emergency.The Indiana Family Social and Services Administration, Office of Medicaid Policy and Planning is requesting authority from the U.S. Centers for Medicare and Medicaid Services to waive several Medicaid and Children’s Health Insurance Program requirements. This would decrease the administrative burden for health care and other providers as the state combats the continued spread of the coronavirus. The request would cover the entirety of the national emergency declaration.OMPP requested a total of eight specific waivers in addition to the blanket waivers previously announced by CMS as available to states.The document, submitted by FSSA Secretary Jennifer Sullivan, M.D., M.P.H., is available here.OMPP may request additional waivers in the future as needed. Pinterest By Tommie Lee – March 20, 2020 0 359 Google+ Facebook WhatsApp Pinterest Facebook Indiana requests federal waivers to support timely medical service Previous articleIndiana University postpones all commencement activities on all campusesNext articleNew Elkhart County fund hopes to support nonprofits and families Tommie Lee Twitter CoronavirusIndianaLocalNewsSouth Bend Market WhatsApp Twitter Google+last_img read more

Additional COVID-19 Cases Reported Sunday

first_imgShare:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to email this to a friend (Opens in new window) MGN ImageJAMESTOWN – Two additional cases of COVID-19 were reported in Chautauqua County on Sunday.Health officials say the new cases involve a woman in her 30s and a man in his 70s.There is now a total of 74 cases with 27 active.So far, 43 have recovered, up three from Saturday. Since the outbreak began four people have died from COVID-19 in the county.last_img read more

Cotton Update

first_imgEnd-of-year rainfall and poor harvest conditions have been tough on Georgia’s cotton crop and tested Georgia’s cotton farmers, says University of Georgia Cooperative Extension’s new cotton agronomist.“The rain and extended periods of cloudy weather hurt much of the crop when it was just starting to open. Much of the earlier maturing portions of the crop suffered from weathering and worse-than-normal boll rot,” said Jared Whitaker, who assumed the post at the UGA Tifton Campus on Dec. 1, 2015. Inclement weather throughout the harvest season delayed the cotton harvest statewide. The recent rain on Wednesday, Dec. 2, 2015, sidelined some Georgia producers who were unable to pick their crop, though it has been ready to harvest for quite some time. According to UGA’s Georgia Automated Environmental Monitoring Network, the UGA Tifton Campus recorded 1.81 inches that day, and UGA’s C.M. Stripling Irrigation Research Park logged 1.80 inches. Last week’s heavy rains followed downpours on Nov. 18 and 19, which also helped to delay harvesting. Despite the recent rainfall over the past three weeks, Whitaker is optimistic about the progress that producers have made in getting their crop out of the field.“The fact that we’re still picking some cotton and the fact that very few people are done, compared to last year, there is no doubt we’re later. In general, though, we normally pick cotton in December,” Whitaker said.Though the quality of Georgia’s cotton crop may be low, Whitaker is still hopeful about the state’s total production. However, cotton prices are a different matter.“The U.S. Department of Agriculture has us pegged at 995 pounds per acre, which would be the second-largest crop we’ve ever made. I tend to agree with it. But you don’t hear the normal optimism associated with a crop of this size due to cotton prices. We needed a big crop just to attempt to remain profitable, and the excitement isn’t there,” Whitaker said. Cotton prices are currently 63 cents per pound, far below the 80 to 85 cents producers strive for. “We certainly didn’t make the high-end crop that we sometimes make. We didn’t have a lot of three-plus bale cotton from that weathering. But the dryland cotton was very strong in a lot of places. There’s a lot of 1,000-pound or better cotton, which is really good,” Whitaker added.While the question of whether prices will improve still weighs on farmers’ minds, so does concern over when the entire crop will be harvested. Whitaker estimates approximately 80 percent of Georgia’s cotton crop is out of the field. Compared to last year when almost every producer was done harvesting by Thanksgiving, Georgia is late this year. “We could be much further behind, but growers have worked extremely hard to get this far. Last year was just an extremely unique year,” Whitaker said. “If we could get another week or two of sunshine, we would certainly make some more headway. I think with two more weeks, we’ll be close to done.”For more information about Georgia’s cotton crop, visit ugacotton.com.last_img read more