Big Fish Games is Churchill Downs Inc’s top earner in Q1

Just in time for Derby Week, gaming operator Churchill Downs Inc. (CD() reported new earnings and revenue records in Q1 2015

CDI reported revenue of $250.9m in the three months ending March 31, a 50% gain over the same period last year. Adjusted earnings were up 97% to $48.3m and cash from operating activities rose 73% to $89.7m.

The figures were boosted by CDI’s late-2014 acquisition of social and mobile gaming operator Big Fish Games, but expenses associated with that $885m purchase resulted in a $19.3m net loss for the quarter. On the plus side, the company’s net debt decreased by $70m to $700m.

CDI’s new Big Fish toy is now its top earner, contributing $91.9m in revenue and $20m in earnings. Big Fish’s social casino games provided the bulk ($49.3m) of total bookings and marked a 67% year-on-year improvement. Quarterly average paying users rose 50% and average daily bookings per paying user rose 12%.