Churchill Downs brings Big Fish Games under its umbrella
An additional earn-out payment of up to USD 350 million may be paid in cash, based on achieving growth in earnings before interest, tax, depreciation and amortization during 2015.
The purchase price remains subject to working capital and other customary post-closing adjustments At the time of the initial announcement, Bill Carstanjen, chief executive officer of Churchill Downs, stated: “The acquisition of Big Fish gives us new products, new customers, new geographies and new sizable growth opportunities.
“While many will view this transaction as a logical extension to what we currently do with Twinspires.com, what is most important to us are the strong team and the processes and capabilities that have been built by Big Fish in Seattle, Oakland, and Luxembourg.”
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