Churchill Downs Inc. "reported lower net income" for '14, but its revenue for the year "was a record," according to Marty Finley of LOUISVILLE BUSINESS FIRST. Net income for the year fell 16% from '13 to $46.4M. Revenue for the year rose 4%, to $812.9M. The racing and gaming company for Q4 "reported a net loss" of $13.8M, compared with a loss of $5.7M a year earlier (BIZJOURNALS.com, 2/25). In Lexington, Janet Patton notes the lower overall earnings came "despite a record-setting Kentucky Oaks and Derby week" at Churchill Downs. CDI "did not address the loss in its earnings release, instead highlighting revenues." That increase came in part "on an influx of revenue" from Seattle-based Big Fish Games, an online game company that CDI "purchased last year" in a deal valued at $800M. While the acquisition added almost $16M to CDI's quarterly expenses, the games also drew in almost $14M in revenue (LEXINGTON HERALD-LEADER, 2/26). At presstime, shares of CDI were trading at $105.64, up 0.2% from the close of business yesterday (THE DAILY).
