LOUISVILLE, Ky. — Churchill Downs Inc., parent company of the Oxford Casino in Oxford, Maine, recently reported business results for the fourth-quarter and full year ended Dec. 31, 2014.

During the year-ended Dec. 31, 2014, CDI net revenues increased $33.6 million, or 4 percent, as revenues from the acquisitions of Oxford Casino and Big Fish Games coupled with a strong Kentucky Oaks and Derby week were partially offset by a decline in racing operations revenues from the cessation of pari-mutuel operations at Calder Race Course during the second half of the year and declines in revenues from certain other casino properties during the year. Adjusted EBITDA increased $26.3 million, or 15 percent, driven by increases of $11.8 million and $11.1 million from the Oxford Casino acquisition and the late 2013 opening of MVG, respectively.

During the fourth-quarter of 2014, Casino revenues remained flat as revenue increases at Oxford Casino were offset by declines at other casino properties. Casino Adjusted EBITDA increased $3.9 million, or 21 percent, primarily due to the inclusion of a full quarter of our share of operating income from MVG, which opened in December 2013, and improvements in profitability at our Oxford facility.

During the year-ended December 31, 2014, Casino revenues increased $31.5 million, or 11 percent, as revenues from the Oxford acquisition were offset by declines at other casino properties due to general economic weakness during a majority of the year, a decline in wagering at our Louisiana properties which mirrored declines in the New Orleans market as a whole and the closure of poker operations at Calder Casino. Adjusted EBITDA during the year increased $20.5 million, or 25 percent, due to the increase in Oxford adjusted EBITDA of $11.8 million and CDI’s share of operating income from MVG of $11.1 million. Improvements were partially offset by a decline in Adjusted EBITDA from Louisiana operations of $1.5 million and $0.6 million at our Mississippi casinos.

A copy of the company’s news release announcing quarterly results and relevant financial and statistical information about the period will be accessible at www.churchilldownsincorporated.com.