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Churchill Downs Inc. Posts Small Loss For Q1, With Main Business Segments Profiting

04 / 24 / 14

Revenue from Churchill Downs Inc.’s "three main business segments -- racing operations, casinos, and online betting -- were all up" in Q1 compared with the same period last year, but CDI "still posted a small loss for the period," according to financial documents cited by Matt Hegarty of DAILY...

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Dolphins' Ross Denies Interest In L.A. Move

Dolphins Owner Stephen Ross in an e-mail wrote he has “no interest at all in moving the Dolphins” to L.A., and his real estate firm Related Cos.' bid to acquire AEG is “strictly advancing our real estate, sports, entertainment and technology business,” according to Dave Hyd ...

Tags: Finance, Miami Dolphins, NFL, AEG

IMG Acquires PR Firm Catalyst

IMG has acquired N.Y.-based Catalyst Public Relations, “adding domestic client PR capabilities for the first time, along with social, digital and content development expertise,” according to Terry Lefton in this week's SPORTSBUSINESS JOURNAL. Catalyst will “keep its name and office ...

Tags: Finance, IMG

EA Receives $9.1M In Florida Tax Breaks

Electronic Arts has been “the biggest beneficiary” over the past three years as the Florida legislature has “dramatically expanded the amount of incentives available to film and entertainment companies,” according to Jason Garcia of the ORLANDO SENTINEL. Florida awarded EA m ...

Tags: Finance, EA Sports

Nike Profit Shrinks 18% From Umbro, Cole Haan Losses

Nike’s fiscal Q2 profit “shrank 18% as results were weighed down by $137 million in losses tied to the sale of the Umbro and Cole Haan brands, masking strong demand for the athletic-goods giant's products,” according to John Kell of the WALL STREET JOURNAL. The company's “top ...

Tags: Finance, Nike, Adidas, Reebok

Oregon Passes Tax Security For Nike Expansion

The Oregon Legislature, “despite misgivings about a rushed, sweetheart deal,” approved a new law Friday that “gives Nike greater tax security as the company plans a multimillion dollar expansion in the state,” according to Harry Esteve of the Portland OREGONIAN. The bill pass ...

Tags: Finance, Nike

Sources: IMG Could Sell For $2B

Private equity firm Forstmann Little & Co. is “preparing to put its powerhouse sports agency IMG Worldwide up for sale next year,” and the sale “could fetch as much as $2 billion,” according to sources cited by Rachel Abrams of DAILY VARIETY. Sources said that Goldman Sa ...

Tags: Finance, IMG

WMG Acquires Canada-Based Catalyst Consulting

Wasserman Media Group "has expanded both its consulting business and its Canadian presence with the acquisition of Catalyst Sponsorship Consulting, a Toronto firm with golf expertise and relationships with large Canadian companies," according to Terry Lefton in this week's SPORTSBUSINESS JOURNAL. Ca ...

Tags: Finance, Wasserman Media Group

Initial Bids For AEG Due Friday

Initial bids are due Friday for AEG, financial sources said. AEG announced in September it was putting itself up for sale, and hired Blackstone Group to run the auction. A spokesperson for Blackstone declined comment; an AEG spokesperson did not return calls seeking comment. Blackstone in October se ...

Tags: Finance

Competitor Group Reportedly Selling For $250M

Private equity firm Calera Capital is buying endurance sports leader Competitor Group Inc. for close to $250M, sources said, ending a nine-month auction of the company.  The CGI management team, led by CEO Scott Dickey, will remain in place as they move from working under one private equity fir ...

Tags: Finance

AMF Bowling Files For Bankruptcy Protection

AMF Bowling, the world's largest operator of bowling alleys, filed for bankruptcy-court protection yesterday “after being squeezed by a cash crunch and failing to find a buyer for its business,” according to Jacqueline Palank of the WALL STREET JOURNAL. The filing “marks AMF's seco ...

Tags: Finance

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