LOUISVILLE, Ky. (Dec. 16, 2014) — Churchill Downs Inc. has completed the previously announced acquisition of Big Fish Games Inc., one of the world’s largest producers and distributors of mobile and online games. The transaction includes an upfront purchase price of $485 million comprised of approximately $16 million in Churchill Downs Inc. stock, up-front cash of $384 million and $85 million in cash to be paid over three years. The purchase price remains subject to working capital and other customary post-closing adjustments. An additional earn-out payment of up to $350 million may be paid in cash based on achieving EBITDA growth in 2015.
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