Courier Journal – Corporate leaders from Louisville-based Churchill Downs Inc. talked about the new over-sized video board at its namesake track and other issues facing the company in a Thursday conference call with investors and analysts to discuss the company’s $700,000 first-quarter loss.
…An analyst asked when Churchill would begin to see returns on its investments for an Internet gambling platform for games like online poker.
“We believe that over time the Internet gaming market in the U.S. will develop into a significant opportunity for us and for others as well, of course,” Evans said. “We plan to be a significant player in that. We’ll continue to make the investments at about the current rate, at least through the rest of this year, in building the technology platform, which I think we’ve got some real advantages in. And we’ve got a long-term view on this. We can’t make states legalize Internet gaming any faster than they would otherwise. But as that occurs, we want to be a player.”
Chief Financial Officer Bill Mudd said the company spent $1.1 million in each of the last two quarterly reporting periods on platform development.
