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Australian Company Purchases US Gaming Subsidiary
Churchill Downs Inc. (CDI) has decided to sell its mobile gaming subsidiary Big Fish Games for nearly US$1 billion to focus on thoroughbred racing and casino gaming, reports Blood Horse. CDI confirmed on Wednesday that it is selling Big Fish for US$990 million (AUS$1.3 billion) to pokies giant Aristocrat Technologies, a wholly owned subsidiary of the Australian-based Aristocrat Leisure Limited. The sale will see Aristocrat become the second biggest social casino gaming company in the world, according to the Australian Financial Review. "Big Fish is a very successful business with a bright future that will be best realized by being part of Aristocrat's strategy and vision for their online and mobile gaming portfolio," said CDI chief executive officer Bill Carstanjen. "We will refocus our strategy on our core assets and capabilities, including growing the Kentucky Derby, expanding the casino segment, TwinSpires.com and other forms of real-money gaming, and maximizing our Thoroughbred racing operations."