Earnings

News, Articles, Videos and other content about Earnings

Youbet.com Reports Small First-Quarter Loss

Youbet.com reported a small loss for the first three months of 2010, noting there would have been a similar gain if not for $1 million in expenses tied to its impending merger with Churchill Downs Inc.

Churchill Posts Slight Increase in Earnings

Churchill Posts Slight Increase in Earnings

Churchill Downs Inc. released its second-quarter results after the close of the stock market July 29, with a slight increase in earnings due to its advance deposit wagering system and slot-machine gaming.

Canterbury Park Reports Lower Profit

The parent company of Canterbury Park reported a smaller first-quarter profit May 13, blaming current economic conditions and increased competition at the racetrack located in Shakopee, Minn.

Youbet Looking Beyond Racing for Growth

Youbet Looking Beyond Racing for Growth

Flush off a quarter in which it saw increased handle and profit, Youbet.com said May 13 it would look at possibly establishing a presence in another country in an effort to expand its wagering offerings beyond horse racing.

Stronach Critical of Certain MID Investors

Magna Entertainment Corp. chairman Frank Stronach criticized certain hedge-fund investors for putting "unwarranted" pressure on the bankrupt racetrack company's parent entity, suggesting May 8 that those antagonists could start their own company if they didn't like what they saw.

CDI: We're Rebuilding Racing, but Need Slots

CDI: We're Rebuilding Racing, but Need Slots

Despite growth in its online pari-mutuel wagering and Louisiana slots operations, the top executive of Churchill Downs Inc. said May 7 the company is not ignoring its racing properties, but needs legislative help to keep them viable entities.

CDI: Revenues Up, Earnings Down

CDI: Revenues Up, Earnings Down

Citing the absence of insurance payments received in 2008, Churchill Downs Inc. reported a net loss of $4.8 million in the first quarter of the year, but said a 12% increase in net revenues were attributed to strength in its Louisiana gaming business and on-line wagering operation.

MEC 2008 Loss Highest in Company History

One day after reporting Magna Entertainment Corp. would not release an annual report due to its ongoing bankruptcy proceedings, controlling shareholder MI Developments released data showing MEC posted its highest-ever annual loss in its brief history, though it's not exactly clear what the final tally is.

Deal to Sell TVG in 'Final Phases'

Deal to Sell TVG in 'Final Phases'

TVG has been classified as a discontinued operation by parent company Macrovision Solutions Corp., which says it in the "final phases" of negotiations to sell the horse racing network.

Youbet Reports Rise in Net Income

After turning over a new leaf in management, Youbet.com's net income for the third quarter of 2008 experienced a significant increase in profit from the year before.

Magna Official Says He Will Step Down

Following a transition period, MI Developments chief executive officer and board member John Simonetti said he will leave his post, but he offered no timeline Aug. 8 during a conference call on the company's second-quarter earnings.

MEC May Reconsider Sale of Some Assets

MEC May Reconsider Sale of Some Assets

Magna Entertainment Corp., which posted a $21.25-million loss for the second quarter of 2008, said Aug. 5 it's reconsidering the sale of some assets it expected to unload as part of a debt-elimination plan.

Youbet Examining Possible TVG Deal

Youbet Examining Possible TVG Deal

Youbet.com, during an Aug. 5 conference call in which it reported a profit for the second straight quarter, said it is evaluating the effects of a possible merger with TVG.

MTR Gaming Aims to Reduce Debt

MTR Gaming Aims to Reduce Debt

MTR Gaming Inc. has defined as core assets its two Thoroughbred racinos and an Ohio harness track, and will examine sale possibilities of all other properties to reduce debt and raise shareholder value, the company said July 30.

Most Popular Stories