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Stock Market & Financial Investment News

News Breaks
March 30, 2013
19:19 EDTCHDNChurchill Downs to acquire Oxford Casino in Oxford, Maine
Churchill Downs Incorporated announced that it has entered into a definitive purchase agreement to acquire Oxford Casino in Oxford, Maine, for total consideration of approximately $160M, to be paid in cash.The transaction, which is dependent on the company securing a gaming license from the Maine Gaming Control Board, and on other usual and customary closing conditions, is anticipated to close in the fourth-quarter of 2013. If certain closing conditions are not satisfied, the company could be obligated to pay an $8M termination fee.
News For CHDN From The Last 14 Days
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November 14, 2014
07:41 EDTCHDNChurchill Downs outlook has improved, says Wells Fargo
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November 13, 2014
06:01 EDTCHDNChurchill Downs to host conference call
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November 12, 2014
16:35 EDTCHDNChurchill Downs to acquire Big Fish Games
Churchill Downs and Big Fish Games announced they have entered into a definitive merger agreement under which CDI will acquire all of the outstanding stock and equity interests of the privately held Big Fish.The transaction is structured on a cash-free/debt-free basis and is valued at up to $885M, including a base consideration of $485M and a potential earn-out payment of up to $350M based on 2015 Adjusted EBITDA, and a potential bonus payment to the founder and current CEO of Big Fish, Paul Thelen, of $50M based on 2016 bookings. The purchase price will be paid in cash, except for approximately $15M paid in CDI common stock to Paul Thelen. The merger, which has been approved by the Boards of Directors of both companies, is conditioned upon receipt of required regulatory approvals and other customary closing conditions. Subject to the satisfaction of these conditions, the transaction is expected to close by the end of the year.

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