Pace-O-Matic Congratulates Churchill Downs Inc. on Record Earnings
31 Julio 2024 - 8:30AM
Pace-O-Matic, the nation’s leading developer of skill games,
congratulates Churchill Downs Inc. (CDI) on a record second quarter
for 2024. CDI representatives continue to launch misleading
campaigns attacking small businesses and fraternal clubs, such
as American Legions and VFWs, that operate skill games. Yet,
according to an earnings report released this month, CDI saw a
record second quarter in 2024.
In the second quarter of 2024, CDI saw a net
revenue of $890.7 million, up $122.2 million from the second
quarter of last year. In fact, CDI reported a record
second-quarter revenue across all of its reporting segments. Live
and historical horse racing revenue was up 25%, TwinSpires (CDI’s
online betting platform) revenue was up 36%, and gaming revenue was
up 14% compared to the second quarter of 2023 (all adjusted
EBITDA). Additionally, the gaming giant opened a casino resort and
a hotel in the second quarter of this year.
On a recent earnings call, Bill Carstanjen, CEO
of Churchill Downs Inc. said, “The second quarter was great for us,
with all-time record financial results.” When asked if working to
keep skill games out of their markets impacted the positive
earnings, Carstanjen said, “That helps our facility, that
definitely is a positive thing...certainly it’s something our
company focuses on.”
Small local businesses and non-profits rely on
supplemental income from skill games to pay bills, create jobs,
offer competitive wages, provide employee benefits, donate to
charitable causes, and much more. Yet, CDI has spent millions to
attack legal games of skill in multiple markets, putting thousands
of small businesses at risk.
“It’s no secret that Churchill Downs has waged a
war against and is ‘focused’ on destroying small businesses and
fraternal clubs across the country to protect their bottom line,”
said Chief Public Affairs Officer for Pace-O-Matic, Mike Barley.
“While they make unfounded claims that skill games threaten their
business, they continue to rake in hundreds of millions in profits
and break revenue records. At the same time, local small businesses
legally operating games of skill are struggling to keep their doors
open. It’s the definition of David vs. Goliath.”
“Let’s be clear: this is not your father’s
Churchill Downs that focused on live horse racing. The Churchill
Downs of today does not want to expand or operate live horse
racing. The company’s entire focus is centered on operating and
expanding their slot machine and casino business,” added
Barley.
CDI and other global casino giants are
determined to eliminate any perceived competition in the gaming
market, often claiming that legal skill games impact their growth.
Yet the company continues to thrive even in markets where games of
skill are operating and regulated, such as Wyoming. Regardless of
what CDI and other big casinos say, Pace-O-Matic remains committed
to providing engaging skill-based entertainment to players while
supporting the heart and soul of America – local small
businesses.
About Pace-O-Matic (POM)Pace-O-Matic is
the leading developer of games of skill in the United States. Its
games are played in thousands of local small businesses including
restaurants and bars as well as fraternal organizations such as VFW
halls, American Legion posts, fire halls, and others. Pace-O-Matic
games generate millions of dollars in revenue for businesses and
clubs across the United States.
1-877-448-4263
Pace-O-Matic
717-576-6733
michael.barley@paceomatic.com