Churchill Downs Incorporated – FairOdds Network

August 22, 2023

CDI closes deal for historical racing specialist Exacta

Horse racing operator Churchill Downs Incorporated (CDI) has closed its acquisition of historical horse racing provider Exacta Systems.

The $250m deal allows Churchill Downs to realise significant and immediate synergies, the operator explained.

Its tracks in Virginia, Colonial Downs and Rosie’s Gaming Emporium, already house Exacta historical racing machines. This means it takes charge of the full value chain.

More historical horse racing machines (HHRMs) will be rolled out across its other properties.

Churchill Downs flexes B2B muscle through acquisition

Exacta will fold into CDI’s B2B subsidiary TwinSpires, providing content to its current third-party clients in Kentucky, Wyoming and New Hampshire.

This arm, formerly CDI’s operating business repurposed as a B2B proposition, already powers DraftKings’ horse racing app DK Horse.

January 10, 2023

Bet365 to enter Pennsylvania with CDI deal

Bet365 is set to expand into Pennsylvania, having entered an online sports betting and igaming market access deal with Churchill Downs Incorporated (CDI) subsidiary Presque Isle Downs & Casino.

The agreement, CDI said, is consistent with its strategy to exit the online sports and casino business, with the operator seeking to monetise its online sports and igaming market access rights and focus on growing the TwinSpires online horse racing wagering business.

CDI revealed in February last year that it was to switch its approach to operations in the online casino sector but would retain retail sportsbook operations in its casinos.

Read the full story on iGB North America

November 30, 2022

CDI to develop DraftKings horse racing offering

Race track and gaming business Churchill Downs Incorporated (CDI) has entered into a multi-year agreement with DraftKings to develop DK Horse, a pari-mutuel wagering horse racing product for the sports betting operator.

CDI’s B2B horse racing subsidiary TwinSpires will develop the white-label solution. This will involve providing the company’s advanced deposit wagering technology to DraftKings.

While TwinSpires initially started life as CDI’s B2C online betting and casino platform, the business pivoted to being a B2B provider after facing intense market competition in 2021.

Under the terms of the deal, CDI will also provide the pari-mutuel wagering rights to content that the business owns or controls, such as the Kentucky Oaks and Kentucky Derby. CDI will also provide additional horse racing content on the operator’s behalf.

“We are excited to collaborate with Churchill Downs Incorporated, not only to give our existing customers an opportunity to engage with pari-mutuel horse wa..

September 16, 2022

Churchill Downs to acquire Kentucky’s Ellis Park for $79m

Churchill Downs Incorporated (CDI) has agreed a deal to acquire the Ellis Park racetrack and gaming facility in Kentucky for a total consideration of $79.0m (£69.4m/€79.3m).

Under the arrangement, CDI will purchase Ellis Park Racing & Gaming from Enchantment Holdings, an affiliate of Laguna Development Corporation, and take full ownership of the venue.

Located in Henderson, Kentucky, Ellis Park has hosted horse racing for the past 100 years, while the site also features a gaming facility venue with approximately 300 historical racing machines (HRMs).

The acquisition agreement also includes CDI assuming Ellis Park’s opportunity to construct a track extension facility at Owensboro’s Towne Square Mall. The new Owensboro Racing & Gaming site will also house an entertainment venue with 600 HRMs, a simulcast wagering centre and multiple food and beverage offerings.

Over the next year, CDI said it expects the total investment in the Henderson and Daviess counties to be approximately $75.0..

September 8, 2022

CDI pens deal with FanDuel

Horse racing and casino operator Churchill Downs Incorporated (CDI) has signed a content and sponsorship agreement with Flutter-owned FanDuel.

The multi-year deal involves multiple areas of FanDuel’s business – including its sports wagering, advance deposits wagering (ADW) and television verticals. Under the terms of the deal, CDI will provide B2B technology and services for FanDuel’s sportsbook’s pari-mutuel wagers on horse racing features.

It will also be possible for US-based FanDuel users to place bets on horse racing content at a CDI property, as well as allow FanDuel access to broadcast CDI content on the operator’s newly announced television network. The deal also has provisions providing FanDuel with non-exclusive Kentucky Derby sponsorship rights.

CDI subsidiary, United Tote, will be paid by FanDuel to facilitate the pari-mutuel wagering sections of the agreement. CDI has previously entered into an agreement to sell 49% of United Tote to the New York Race Association, in a..

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Tag: Churchill Downs Incorporated