Play by Play; Churchill Downs (NasdaqGS: $CHDN) Televises Inspired Entertainment-Created “Kentucky Derby: Triple Crown Showdown” and Torque Esports (TSXV: $GAME.V) Acquires Frankly, WinView - Plans Name Change
MLB Owners Back Proposal for July Start and French Open Could Take Place Without Fans Present
Point Roberts, WA, Delta BC May 12, 2020 - Investorideas.com, a leader in investor news and research issues today’s edition of Play by Play covering what’s new in sports and e-sports headlines and recent news from publicly traded companies in the sector.
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Stocks discussed: (NasdaqGS:CHDN) (TSXV:GAME)
Churchill Downs (NasdaqGS:CHDN) put on a nationwide "Kentucky Derby at Home" party on May 2, the day the Derby would have taken place were it not postponed due to COVID-19 concerns. The televised event featured "The Kentucky Derby: Triple Crown Showdown,” a virtual race, created by Inspired Entertainment, Inc. (NasdaqGS:INSE), that showed 13 Triple Crown winners battle it out. Secretariat won the event, after he claimed victory in the Kentucky Derby 47 years ago at Churchill Downs. According to the press release, 1.7 million viewers watched the race. Bill Carstanjen, CEO of Churchill Downs Incorporated, commented:
"While we await Kentucky Derby 146 in September, our partnership with Inspired Entertainment in creating the virtual Derby not only allowed fans celebrating Kentucky Derby at Home a chance to experience the thrill of a race at Churchill Downs together, but the excitement leading up to it gave us a platform to raise and match funds for important COVID-19 relief efforts."
Torque Esports Corp. (TSXV:GAME) has completed the acquisition of interactive software platform provider Frankly, Inc., and second-screen interactive TV company WinView, Inc. Following this acquisition, Torque plans to change its name to Engine Media Holdings, Inc., and expects to be positioned at the forefront of esports, news streaming and sports gaming across multiple media platforms. Tom Rogers, the company’s newly-appointed Executive Chairman, commented:
"Entertainment programming has moved quickly into the streaming world and now news and sports revenue models are highly challenged as subscriber fees from the traditional bundle models decline. As we have seen through the shelter-in-place orders during the COVID-19 pandemic, news and sports are searching for solutions that help them better access consumers, provide programming and unique experiences and tap into new revenue streams. Engine Media is coming to the table with new ways for the news, information, sports and esports content to thrive in this new media marketplace. While each of these businesses have established themselves by focusing on pieces of a new model, combining and integrating them together can create the scale that will not only benefit investors, but better serve clients, partners and customers in this new world."
MLB Owners Back Proposal for July Start and French Open Could Take Place Without Fans Present
The Associated Press reports that Major League Baseball (MLB) owners greenlit a proposal to the players’ union that could lead to the delayed season beginning around the Fourth of July weekend, albeit in venues with no fans attending. On the prospect of a resumption, California’s Gov. Gavin Newsom said:
“We’ll see where we will be in July. We certainly look forward to Major League Baseball and all sports resuming. But again, the question is when and that will be determined on the basis of public health and public safety and the spread of this virus.”
Elsewhere the AP reports that The French Open tennis tournament at Roland Garros could also take place without fans in attendance at its rescheduled dates of Sept. 20 - Oct. 4. President of the French Tennis Federation Bernard Giudicelli said:
“Organizing it without fans would allow a part of the economy to keep turning, (like) television rights and partnerships. It’s not to be overlooked. We’re not ruling any option out.”
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