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Churchill Downs Incorporated Reports 2024 Fourth Quarter and Full Year Results

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Churchill Downs Incorporated (Nasdaq: CHDN) (the “Company”, “CDI”, “we”) today reported business results for the quarter and full year ended December 31, 2024.

Company Highlights

  • Record fourth quarter 2024 financial results compared to the prior year:
    • Net revenue of $624.2 million, up $63.0 million or 11%
    • Net income attributable to CDI of $71.7 million, up $14.1 million or 24%
    • Adjusted EBITDA of $236.6 million, up $17.5 million or 8%
  • Record 2024 financial results compared to the prior year:
    • Net revenue of $2.7 billion, up $272.6 million or 11%
    • Net income attributable to CDI of $426.8 million, up $9.5 million or 2%
    • Adjusted EBITDA of $1.2 billion, up $135.3 million or 13%
  • We successfully ran the 150th Kentucky Derby on the first Saturday of May generating all-time record all-sources handle and all-time record Derby Week Adjusted EBITDA.
  • We opened the Terre Haute Casino Resort in Indiana in April 2024, and the hotel in May 2024.
  • The Rose Gaming Resort opened in Dumfries, Virginia in November 2024, with 1,650 historical racing machines and a 102-room hotel as our eighth HRM entertainment venue in Virginia.
  • We opened Owensboro Racing & Gaming in Owensboro, Kentucky on February 12, 2025, with 600 historical racing machines, a retail sportsbook, simulcast wagering, and food and beverage offerings.
  • We ended 2024 with net bank leverage of 4.0x and returned $218.3 million of capital to shareholders through share repurchases and dividends.
CONSOLIDATED RESULTS
Fourth Quarter Years Ended December 31
(in millions, except per share data) 2024 2023 2024 2023
Net revenue $ 624.2 $ 561.2 $ 2,734.3 $ 2,461.7
Net income attributable to CDI $ 71.7 $ 57.6 $ 426.8 $ 417.3
Diluted EPS attributable to CDI $ 0.95 $ 0.76 $ 5.68 $ 5.49
Adjusted EBITDA(a) $ 236.6 $ 219.1 $ 1,159.2 $ 1,023.9
(a) This is a non-GAAP measure. See explanation of non-GAAP measures below.
SEGMENT RESULTS

The summaries below present revenue from external customers and intercompany revenue from each of our reportable segments. We have changed the name of the TwinSpires segment to Wagering Services and Solutions to better reflect the businesses that are within this segment. All comparisons are against the applicable prior year period unless otherwise noted.

Live and Historical Racing

Fourth Quarter Years Ended December 31,
(in millions) 2024 2023 2024 2023
Revenue $ 275.5 $ 235.3 $ 1,267.0 $ 1,084.6
Adjusted EBITDA 101.6 88.9 574.6 475.4


Fourth Quarter 2024

Fourth quarter 2024 revenue increased $40.2 million due to a $19.6 million increase primarily from the opening of The Rose Gaming Resort in Northern Virginia, a $10.4 million increase from our other Virginia HRM venues, a $4.1 million increase from our Southwestern Kentucky HRM venue, a $2.7 million increase at Churchill Downs Racetrack, a $2.1 million increase from our Northern Kentucky HRM venues, and a $1.3 million net increase from our other HRM venues.

Fourth quarter 2024 Adjusted EBITDA increased $12.7 million due to a $5.2 million increase primarily from the opening of The Rose Gaming Resort in Northern Virginia, a $7.6 million increase from our other Virginia HRM venues, a $2.1 million increase from our Southwestern Kentucky HRM venue, and a $1.5 million increase from our Northern Kentucky HRM venues. These increases were offset by a $1.8 million decrease related to an increase in government relations expense allocated to Virginia, a $1.3 million decrease at Churchill Downs Racetrack and a $0.6 million decrease at our other HRM venues.

Full Year 2024

Full year 2024 revenue increased $182.4 million due to a $57.2 million increase at Churchill Downs Racetrack due to a record-breaking 150th Derby Week, a $25.9 million increase in Northern Virginia including the opening of The Rose Gaming Resort, a $17.2 million increase from the opening of the Rosie’s Emporia HRM venue in Southern Virginia in September 2023, a $39.5 million increase from our other Virginia HRM venues, a $41.5 million increase from our Kentucky HRM venues, and a $1.1 million increase from our New Hampshire venue.

Full year 2024 Adjusted EBITDA increased $99.2 million due to a $32.6 million increase at Churchill Downs Racetrack due to a record-breaking 150th Derby Week, $9.7 million increase in Northern Virginia including the opening of The Rose Gaming Resort, a $7.1 million increase from the opening of the Rosie’s Emporia HRM venue in Southern Virginia in September 2023, a $38.3 million increase from our other Virginia HRM venues, and an $11.5 million increase primarily from our other Kentucky HRM venues.

Wagering Services and Solutions

Fourth Quarter Years Ended December 31,
(in millions) 2024 2023 2024 2023
Revenue $ 108.0 $ 110.6 $ 500.7 $ 458.4
Adjusted EBITDA 37.3 34.9 165.6 132.1


Fourth Quarter 2024

Fourth quarter 2024 revenue decreased $2.6 million due to a $3.5 million decrease from our sports betting business and a $1.3 million decrease in TwinSpires Horse Racing primarily due to market access and shifts in race days at other tracks. These decreases were partially offset by a $2.2 million increase from Exacta primarily from the growth of our Virginia HRM venues.

Fourth quarter 2024 Adjusted EBITDA increased $2.4 million due to a $2.1 million increase from our Exacta business primarily because of increased fees from the growth of our Virginia HRM venues, a $2.2 million increase from a one-time reduction in compensation expenses related to our Exacta business, and a $0.3 million increase in TwinSpires Horse Racing. These increases were partially offset by a $2.2 million decrease primarily from our sports betting business.

Full Year 2024

Full year 2024 revenue increased $42.3 million due to a $40.8 million increase from our Exacta business primarily from growth in our third party HRM business and from the growth of our Virginia HRM venues and a $2.0 million increase from our sports betting business, partially offset by a $0.5 million decrease from TwinSpires Horse Racing.

Full year 2024 Adjusted EBITDA increased $33.5 million due to a $29.2 million increase from our Exacta business because of increased fees from our Virginia HRM venues, a $2.2 million increase from a one-time reduction in accrued compensation expenses related to our Exacta business, and a $2.6 million increase primarily from our sports betting business, partially offset by a $0.5 million decrease from TwinSpires Horse Racing.

Gaming

Fourth Quarter Years Ended December 31,
(in millions) 2024 2023 2024 2023
Revenue $ 257.5 $ 230.2 $ 1,045.4 $ 974.6
Adjusted EBITDA 120.1 113.4 506.9 488.6


Fourth Quarter 2024

Fourth quarter 2024 revenue increased $27.3 million due to a $30.3 million increase from the opening of the Terre Haute Casino Resort, partially offset by a $3.0 million decrease from our other wholly owned gaming properties primarily due to regional gaming softness and increased competition.

Fourth quarter 2024 Adjusted EBITDA increased $6.7 million due to an $11.4 million increase from the opening of the Terre Haute Casino Resort and a $2.7 million increase from our equity investment in Miami Valley Gaming. These increases were partially offset by a $2.3 million decrease from our other wholly owned gaming properties and a $5.1 million decrease from our equity investment in Rivers Des Plaines primarily due to regional gaming softness, increased competition, and higher labor and benefit expense.

Full Year 2024

Full year 2024 revenue increased $70.8 million primarily due to a $96.6 million increase from the opening of the Terre Haute Casino Resort. This increase was partially offset by a $15.6 million decrease from our other wholly owned gaming properties primarily due to inclement weather in January 2024, regional gaming softness, and increased competition; and a $10.2 million decrease due to our decision not to renew the management agreement at Lady Luck at the end of June 2023.

Full year 2024 Adjusted EBITDA increased $18.3 million primarily due to a $44.5 million increase from the opening of the Terre Haute Casino Resort and a $3.0 million increase from our equity investment in Miami Valley Gaming. These increases were partially offset by a $19.5 million decrease from our wholly owned gaming properties and an $8.5 million decrease from our equity investment in Rivers Des Plaines primarily due to inclement weather in January 2024, regional gaming softness, increased competition, and higher labor and benefit expense; and a $1.2 million decrease from proceeds for business interruption insurance claims in the third quarter 2023 that did not reoccur.

All Other

Fourth Quarter Years Ended December 31,
(in millions) 2024 2023 2024 2023
Revenue $ 2.1 $ 0.2 $ 6.6 $ 0.9
Adjusted EBITDA (22.4 ) (18.1 ) (87.9 ) (72.2 )


Fourth Quarter 2024

Fourth quarter 2024 revenue increased $1.9 million due to intercompany revenue related to the captive insurance company that was established in April 2024. All captive revenue is eliminated in consolidation.

Fourth quarter 2024 Adjusted EBITDA decreased $4.3 million driven primarily by increased corporate compensation related expenses and other corporate administrative expenses driven by enterprise growth.

Full Year 2024

Full year 2024 revenue increased $5.7 million primarily due to intercompany revenue related to the captive insurance company that was established in April 2024. All captive revenue is eliminated in consolidation.

Full year 2024 Adjusted EBITDA decreased $15.7 million driven primarily by increased corporate compensation related expenses and other corporate administrative expenses driven by enterprise growth.

CAPITAL MANAGEMENT


Share Repurchase Program

The Company repurchased 160,466 shares of its common stock at a total cost of $21.3 million based on trade date under its share repurchase program in the fourth quarter of 2024. The Company repurchased 506,300 shares of its common stock at a total cost of $65.3 million based on trade date under its share repurchase program in 2024. We had $149.6 million of repurchase authority remaining under this program as of December 31, 2024.

Annual Dividend

On October 22, 2024, the Company’s Board of Directors approved an annual cash dividend on the Company’s common stock of $0.409 per outstanding share, a seven percent increase over the prior year. The dividend was paid on January 3, 2025, to shareholders of record as of the close of business on December 6, 2024, with the aggregate cash dividend paid to each shareholder rounded to the nearest whole cent. This marks the fourteenth consecutive year that the Company has increased the dividend per share.

Capital Investments

We currently expect our project capital to be approximately $350 to $400 million in 2025, although this amount may vary significantly based on the timing of work completed, unanticipated delays, and timing of payments to third parties. We plan to use our operating cash flows and existing revolving credit facility to fund our capital project expenditures.

NET INCOME ATTRIBUTABLE TO CDI


Fourth Quarter 2024 Results

The Company’s fourth quarter 2024 net income attributable to CDI was $71.7 million compared to $57.6 million in the prior year quarter.

The following factors impacted the comparability of the Company’s fourth quarter 2024 net income to the prior year quarter:

  • a $9.9 million after-tax decrease in transaction, pre-opening, and other expense primarily from the settlement of certain liabilities recorded at the time of the Company’s November 2022 acquisition of substantially all of the assets of Peninsula Pacific Entertainment LLC,
  • a $1.7 million after-tax increase in other charges and recoveries, net primarily related to non-recurring insurance claim recoveries,
  • a $0.2 million decrease of after-tax other charges; and
  • a $0.1 million decrease in after-tax non-cash asset impairments.

This was partially offset by:

  • a $1.1 million after-tax decrease primarily from legal reserves.

Excluding the items above, fourth quarter 2024 adjusted net income attributable to CDI increased $3.3 million primarily due to the following:

  • a $3.9 million after-tax increase primarily driven by the results of our operations,
  • partially offset by a $0.6 million after-tax increase in interest expense associated with higher outstanding debt balances and higher interest rates.

Full Year 2024 Results

The Company’s full year 2024 net income attributable to CDI was $426.8 compared to $417.3 million in the prior year.

The following factors impacted comparability of the Company’s net income for the year ended December 31, 2024 compared to the prior year:

  • an $86.2 million after-tax gain on the sale of the Arlington property in the prior year; and
  • a $0.7 million after-tax decrease primarily from legal reserves.

This was partially offset by:

  • a $15.7 million after-tax decrease in non-cash asset impairments,
  • a $12.8 million after-tax decrease in transaction, pre-opening, and other expense primarily from the settlement of certain liabilities recorded at the time of the Company’s November 2022 acquisition of substantially all of the assets of Peninsula Pacific Entertainment LLC,
  • a $5.1 million after-tax increase of other charges and recoveries, net primarily related to non-recurring insurance claim recoveries; and
  • a $1.6 million after-tax decrease of other charges.

Excluding these items, full year 2024 adjusted net income attributable to CDI increased $61.2 million primarily due to the following:

  • a $77.0 million after-tax increase primarily driven by the results of our operations and equity income from our unconsolidated affiliates,
  • partially offset by a $15.8 million after-tax increase in interest expense associated with higher outstanding debt balances and higher interest rates.

Conference Call

A conference call regarding this news release is scheduled for Thursday, February 20, 2025 at 9 a.m. ET. Investors and other interested parties may listen to the teleconference by accessing the online, real-time webcast and broadcast of the call at churchilldownsincorporated.com/events.cfm, or by registering in advance via teleconference here. Once registration is completed, participants will be provided with a dial-in number containing a personalized conference code to access the call. All participants are encouraged to dial-in 15 minutes prior to the start time. An online replay will be available by noon ET on Thursday, February 20, 2025. A copy of the Company’s news release announcing quarterly results and relevant financial and statistical information about the period will be accessible at churchilldownsincorporated.com.

Use of Non-GAAP Measures

In addition to the results provided in accordance with GAAP, the Company also uses non-GAAP measures, including adjusted net income, adjusted diluted EPS, EBITDA (earnings before interest, taxes, depreciation and amortization), and Adjusted EBITDA.

The Company uses non-GAAP measures as a key performance measure of the results of operations for purposes of evaluating performance internally. These measures facilitate comparison of operating performance between periods and help investors to better understand the operating results of the Company by excluding certain items that may not be indicative of the Company’s core business or operating results. The Company believes the use of these measures enables management and investors to evaluate and compare, from period to period, the Company’s operating performance in a meaningful and consistent manner. The non-GAAP measures are a supplemental measure of our performance that is not required by, or presented in accordance with, GAAP, and should not be considered as an alternative to, or more meaningful than, net income or diluted EPS (as determined in accordance with GAAP) as a measure of our operating results.

We use Adjusted EBITDA to evaluate segment performance, develop strategy, and allocate resources. We utilize the Adjusted EBITDA metric to provide a more accurate measure of our core operating results and enable management and investors to evaluate and compare from period to period our operating performance in a meaningful and consistent manner. Adjusted EBITDA should not be considered as an alternative to operating income as an indicator of performance, as an alternative to cash flows from operating activities as a measure of liquidity, or as an alternative to any other measure provided in accordance with GAAP. Our calculation of Adjusted EBITDA may be different from the calculation used by other companies and, therefore, comparability may be limited.

Adjusted net income and adjusted diluted EPS exclude discontinued operations net income or loss; net income or loss attributable to noncontrolling interest; changes in fair value for interest rate swaps related to Rivers Des Plaines; Rivers Des Plaines’ legal reserves and transaction costs; transaction expense, which includes acquisition and disposition related charges, as well as legal, accounting, and other deal-related expense; pre-opening expense; and certain other gains, charges, recoveries, and expenses.

Adjusted EBITDA includes our portion of EBITDA from our equity investments and the portion of EBITDA attributable to noncontrolling interest.

Adjusted EBITDA excludes:

  • Transaction expense, net which includes:
    • Acquisition, disposition, and property sale related charges;
    • Other transaction expense, including legal, accounting, and other deal-related expense;
  • Stock-based compensation expense;
  • Asset impairments;
  • Gain on property sales;
  • Legal reserves;
  • Pre-opening expense; and
  • Other charges, recoveries, and expenses.

As of December 31, 2021, our property in Arlington Heights, Illinois (“Arlington”) ceased racing and simulcast operations and the property was sold on February 15, 2023 to the Chicago Bears. Arlington’s results and exit costs in 2023 are treated as an adjustment.

For segment reporting, Adjusted EBITDA includes intercompany revenue and expense totals that are eliminated in the Consolidated Statements of Comprehensive Income. See the Reconciliation of Net Income to Adjusted EBITDA included herewith for additional information.

The post Churchill Downs Incorporated Reports 2024 Fourth Quarter and Full Year Results appeared first on Gaming and Gambling Industry in the Americas.

Interviews

Scaling With Purpose: RedCore’s Tech Vision Explained

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At SiGMA Central Europe in Rome, European Gaming Media sat down with Yevhenii Yankovyi, Vice President of Technology and Deputy CTO at RedCore, for a deep look into what truly powers RedCore’s large-scale engineering operations.

RedCore is known for innovating at enterprise level, yet moving with the agility of a fast-growing tech company. In this conversation, Yevhenii breaks down how the organization manages that balance: how engineering teams maintain both speed and reliability, how automation empowers creativity, and why culture must remain a daily practice rather than a one-time achievement.

 

Can you introduce yourself and RedCore’s approach to engineering at scale?

Sure. My name is Yevhenii, I’m the Vice President of Technology at RedCore and Deputy CTO. RedCore is a large company with many products and projects, so everything we do operates at a significant scale. And when people hear “enterprise-level engineering,” the usual assumption is that scale automatically means slowness: slow decision-making, slow implementation, slow testing, slow time to market.

That’s the mindset we challenge. We don’t believe speed and stability are opposites. In our experience, at this level of complexity, the two actually reinforce each other. When you build the right processes, the right technical foundations, and the right organizational structure, speed becomes a natural result of stability – not something that contradicts it.

We plan for scaling from day one. For us, that’s a fundamental requirement. We build products with the expectation that they will grow, and growth means scale. So we design with that in mind from the very first line of architecture.

But that doesn’t mean disappearing for six or ten months to design the “perfect” system. That’s the common mistake people make when they hear “design for scale.” Our approach is different: we keep the long-term vision in mind, but we move fast, iterate, and make sure the product can evolve without slowing the team down. Stability and speed working together – that’s the engineering culture we build at RedCore.

How does RedCore balance speed and stability in daily engineering?

I will explain this with a simple metaphor: think about a car. Everyone talks about acceleration and top speed, but none of that matters if you can’t take a corner. Speed alone is not the winning formula – you also need control.

That’s exactly how we look at engineering at RedCore. We want to accelerate, make decisions quickly, and develop fast. But we also need the ability to slow down at the right moment, change direction, and stay agile. Balancing speed with stability is the only way to move at scale.

There are many layers to this – it’s a topic I could talk about for days – but in a nutshell:

at a big scale, you must have strong standards, clear policies, and a high level of automation. We rely heavily on automation: infrastructure as code, CI/CD pipelines, automated testing, and all the tools that remove repetitive, routine work from engineers’ daily lives. When the routine disappears, people can focus on what humans actually do best: creativity, problem-solving, and innovation.

However, automation doesn’t build the software for you. It creates a safety net. It catches mistakes, guards quality, and supports engineers when their creativity pushes boundaries. In other words: tools give freedom, and also protect that freedom.

And of course, this includes AI and many other modern tools. We use whatever helps us keep the balance: give people space to think, create, and experiment, while ensuring the system stays stable, predictable, and high-quality.

How does RedCore’s management keep teams aligned yet fast?

First of all, we provide clear goals. As I mentioned earlier, we always design for scale from day zero – but you can only do that if you know exactly what you’re building, for whom, and why. We have a very strong business team that understands the market and what needs to be delivered. The technology team works side by side with them, reinforcing them.

Once the goals are clear, we begin small. If you try to build a huge system from the beginning and get it wrong, you create a nightmare: something no one can support, change, or grow. Complexity grows exponentially, and humans don’t think exponentially; we think linearly. That’s where companies often get lost.

So we avoid that by validating early and validating often. We start with small steps, keep a close eye on every direction we take, and confirm that what we’re building is truly needed by the market. When we see that the direction is right, then we scale – and by that point, the foundation is already in place. It’s like preparing a launchpad so that when the time comes, the team can accelerate immediately.

We build block by block and work in iterations. We take a small team – one, two, maybe three people – and let them experiment for a week. We test the idea fast, get quick feedback, and bring it to the business side: “Do you like it?” If the answer is yes, then we continue, still following all the proper engineering practices before anything goes into production.

This constant loop between business and technology keeps everyone aligned. We give feedback, we receive feedback, and we move together. That’s how we stay both fast and coordinated, always ready to scale when the direction is confirmed.

How does automation empower engineers without slowing them down?

When we talk about automation, we’re really talking about optimization at scale. It doesn’t make sense to over-engineer small things, but at the scale we operate, the cost efficiency and speed gains are enormous. And people often assume that big systems and automation automatically slow everything down. For us, it’s the opposite.

The tools we introduce are not meant to tie engineers’ hands with bureaucracy. We don’t force strict guidelines or heavy processes that kill creativity. Our tools exist to help: to prevent mistakes, to collect feedback quickly, and to give teams the shortest possible path from idea to validation.

Here’s a simple example: we start experimenting with a small feature. We build a tiny prototype to see if the idea works. If it’s promising, the next step is testing, pipelines, deployment – all the things that normally take time. In many companies, engineers would try to do all of this manually because “building the tools will take too long.” But with us, the tools are already there. The infrastructure, the CI/CD, the automation – everything is ready to use. Our engineers are essentially customers of this internal platform that supports fast, safe delivery.

We have many different teams that have different great ideas. If one team tries something new and it works better, great – we learn from it. If another team has a different approach because of product specifics or release schedules, that’s fine too. We give freedom to the teams to work, share their experiences, and then scale.

Of course, there are non-negotiables. When it comes to security and data privacy there is zero tolerance. These are areas where strict rules are absolutely necessary. I always tell the security people: everyone should be a little afraid of you, because these things must be perfect. But outside those critical areas, we don’t impose rules that slow teams down. We experiment, gather feedback, adjust, and keep improving.

We’re constantly researching, experimenting, and customizing our automation depending on the product and the market. But when it comes to system design, we don’t reinvent the wheel. We choose globally recognized tools and industry-validated technologies. So yes, we empower engineers with automation and the right tools, built on a solid, modern foundation.

How does culture work for you – is it an achievement, or part of your routine?

Culture is a critical element in balancing speed and stability. Tools and processes matter, but culture is what truly empowers a team and keeps everything together at scale.

For us, culture starts with giving people freedom: the freedom to experiment, the freedom to make mistakes, and the freedom to challenge ideas. We don’t want engineers to be afraid of trying something new. We build a culture where mistakes are acceptable and manageable. If we try something and it doesn’t work, great – now we know better. We learn, adjust, and move on.

We encourage ideas from every level. Some of our most interesting insights come from developers who notice something while working on a small task. They can come directly to me or to the CTO and say, “I see a problem here.” It’s completely okay. A small detail in one corner of the system can become a huge issue at scale, so we listen. That’s how we avoid blind spots.

We also give teams autonomy. Small teams can make their own decisions and experiment in their own ways. If different teams want to do things differently, that’s fine – as long as they validate everything and share their findings. We want people to help each other and to understand that even top engineers have ups and downs. Even senior management makes mistakes. I constantly ask my team: “If I make a wrong decision, tell me.” It’s not about transparency as a buzzword – it’s about behavior. People observe how you respond, and they learn from that.

The biggest mistake any leader can make is demotivating people. We work with intelligent, educated, passionate professionals. They want to contribute. You just need to give them the space to do it. That’s when you see people shine and bring forward brilliant ideas.

As for the question of whether culture is an achievement or a routine – for us, it’s definitely a routine. People often talk about “building a strong engineering culture” as if it’s a success. We treat it as a routine as a process. Culture is the daily interactions between people in an organization. Those interactions change: people come and go, someone has a bad day, someone disagrees with a decision. Culture is shaped every day by how we communicate, how we argue, how we respect each other, and how we resolve differences.

Going to a colleague in the kitchen and asking, “Hey, what do you think about this?” – that’s culture. Anyone can talk to anyone, openly. And when engineers realize they can make a real impact, that they are heard, that they can influence the product — that motivates them. That’s what keeps the culture alive.

How do you balance standards with creative freedom?

The first thing is that we don’t pressure people. We set strict standards only where they are truly critical for the business. Security, data privacy, stability at scale – those areas demand clear rules. But everywhere else, we try not to push people. And when we do introduce a standard or guideline, we listen carefully to feedback. If the team tells us we made the wrong call, that’s okay – we rethink it and look for better approaches.

The second thing is that as the projects grow, the teams scale as well. Even in the design phase, we don’t start with a huge team. I prefer a small group: one key person who leads the design initiative, plus two or three contributors who constantly review, test, question, and give feedback. If three or four people align in one direction, that’s a good signal we’re on the right track. Then we take that proposal to a larger group – people who might use it or need it.. We refine it again based on their input. The idea evolves, but we don’t need to start from the beginning.

Finally, when we have a strong direction, we present it to the entire tech team. And even then – even if top management already supports the decision – it’s completely acceptable for a mid-level developer to raise concerns. Maybe they’ve seen something before, maybe they read an article, maybe they faced a similar issue. We listen, because at scale, one overlooked detail can cost millions.

So once again, balancing standards with creative freedom is about scaling the processes step by step: we start with a small group, validate in small cycles, and then scale the decision up gradually. This approach protects creativity, ensures high quality, and keeps us aligned. And combined with our culture, it makes the process both fast and safe.

The post Scaling With Purpose: RedCore’s Tech Vision Explained appeared first on European Gaming Industry News.

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Alinda van Wyk

Super Group Comments on United Kingdom Autumn Statement

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Super Group (SGHC) Limited, the parent company of Betway, a leading online sports betting and gaming business, and Spin, the multi-brand online casino, notes the United Kingdom Autumn announcement:

In this Autumn Statement, the UK government announced increases to gambling duties: Remote Gaming Duty (iGaming) will rise by +19 percentage points (from 21% to 40%), effective April 2026 and General Betting Duty (Online Sports Betting) will rise by +10 percentage points (from 15% to 25%), effective April 2027.

Neal Menashe, Chief Executive Officer, stated: “Super Group supports the reasonable taxation of online gaming in the UK. We rely on the government to ensure that today’s very substantial increase should be paired with robust and strict enforcement against non-paying offshore operators. This is essential to protect the regulated sector’s investment in jobs, technology, and responsible gaming in the UK.”

Alinda van Wyk, Chief Financial Officer, commented: “Going forward, we estimate that these new tax increases will have an impact of approximately 6% to our 2026 Group Adjusted EBITDA. However, Super Group already has several mitigation levers in motion, which are intended to offset the tax impact. Our strategy remains unchanged: sustainable growth and disciplined capital allocation. We don’t expect today’s news to alter our long-term trajectory nor our capital return priorities.”

The post Super Group Comments on United Kingdom Autumn Statement appeared first on European Gaming Industry News.

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Andy Greaves

TVC Completes AV Installation at ScotBet

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TVC Technology Solutions has completed a comprehensive AV installation for leading Scottish bookmaker ScotBet. Reinforcing how cutting-edge audiovisual technology can dramatically elevate customer engagement, brand impact and operational flexibility in betting shops, ScotBet is another in a list of betting shop makeovers for TVC, including a significant number of independent bookmakers throughout the UK.

The project saw TVC partner with ScotBet to modernise digital infrastructure across a number of stores, delivering high-quality visuals, streamlined content distribution and a unified signage platform. The aim was to create a premium experience that draws in customers, enhances dwell time, unlocks in-shop promotional opportunities and underpins ScotBets’ competitive positioning.

TVC’s campaign started with a deep dive into ScotBet’s existing estate, identifying inconsistent screen sizes, dated display technologies and poor content manageability. Working alongside ScotBet’s retail operations and brand teams, TVC created a future-proof AV design plan encompassing ultra-slim large format displays in key customer zones, dynamic digital signage driven by branded content and a centralised control system for roll-out calability.

In each store, TVC installed industry-leading large-format commercial LCD and LED displays, including high-brightness 75″ panels in customer-facing zones, complemented by multiscreen TV gantries above key counters to deliver live odds, race streams and promotional content. These displays were mounted via low-visual-impact brackets to preserve the sleek interior design while maintaining full service access. The project also included a dedicated network of digital signage screens in foyer spaces, driven by the MySign digital signage platform. This enabled ScotBet to push up-to-the-minute messages and odds, event-based campaigns and third-party partnerships with minimal delay.

What sets the TVC-ScotBet collaboration apart from a typical AV and digital signage installation is the seamless integration of content and infrastructure from a single company.

Beyond hardware, TVC delivered a tailored content-creation service, to produce a range of dynamic content. This included templated campaign animations, in-store clock-in of live odds tickers, game-day social-feed overlays and fast-paced screen-fillers that mirror the fast-moving world of wagering.

Andy Greaves, sales director at TVC, said: “Our employee-owned structure means everyone at TVC is passionately behind every project. We instantly become partners to our betting shop customers, rather than just supply vendors, and the ability to supply and install an end-to-end video, signage and content integration seamlessly makes for a smooth project from start to finish.”

TVC brings nearly three decades of experience to the AV installation in hospitality, leisure, gambling, gaming and retail spaces. The portfolio spans F1 gaming arcades, bars and pubs, hotels, care homes, boardrooms and retail spaces, with specialist knowledge in the complexities of high-traffic public environments and the regulatory demands of leisure and betting retail. From bespoke mounting solutions in confined shop-floor footprints to full networked AV infrastructures across multiple sites with cloud-integrated content, TVC tailors its system design to each customer’s requirements and backs each project with ongoing service and maintenance support.

“With surveys showing increased dwell time, engagement and sales through digital signage advertising, and with many better retailers seeing over 10% of their revenue attributed to virtual and e-sports, now is the time to maximise your AV impact and ROI,” said Greaves.

The post TVC Completes AV Installation at ScotBet appeared first on European Gaming Industry News.

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