Big Fish reports record revenues in 2015
Social casino developer saw total bookings increase 35% to $453.2mÂ
Social casino developer Big Fish Games continues to go from strength-to-strength under the ownership of Churchill Downs, with bookings up an impressive 35% for FY 2015. [private]
The operator reported total bookings of $453.2m for the 12 months ended 31 December 2015, leading to net revenues of $413.7m and adjusted EBITDA of $108m.
Big Fish said growth had been driven by its casino and casual free-to-play segments, which generated bookings of $193m (up 23%) and $151.2m (up 292%) respectively.
Casino revenues were driven by a 12% increase in average paying users and a 10% increase in average bookings per paying user compared with the previous year.
Free-to-play was boosted by a 165% increase in average paying users and a 48% increase in average bookings per paying user.
Big Fish said premium bookings declined 22% year on year to $109m as players continued to shift from paid PC games to free-to-play mobile titles.
Churchill Downs also broke out revenues for its TwinSpires real-money horserace wagering site, which saw revenues increase 5% to $200.2m leading to a 14% rise in EBITDA to $51.5m.
Total handle grew 7.5%, significantly ahead of the total industry increase of 1.2%.
âWe delivered record net revenue, adjusted EBITDA, and net cash flows from operations for the year,” Churchill Downs CEO Bill Carstanjen, said.
“These results are a reflection of the strength of the company’s operations and our disciplined approach to capital allocation and operational efficiency over time.
âAs we look forward to 2016, we will continue to position our company for long-term sustainable growth,â he added.
The operator saw total revenues for FY 2015 reach a record $1.2bn, leading to adjusted EBITDA of $335.6m and a net income of $65.2m.