Churchill Downs to Sell More Online Sportsbooks on Horse Racing
Churchill Downs Inc. wants to partner with online sports betting sites for pari-mutuel wagering. The company is interested in online betting on horse racing. FanDuel announced an arrangement with CDI in September. Bill Carstanjen, CEO of CDi, said the company's TwinSpires team is in the process of negotiating more deals. If successfully completed, each of these partnerships will enable the sports-wagers platform to distribute online horse-racing content to their U.S. sports betters.
Churchill Downs reported net revenue of $383.1 million for the three months that ended September 30. The company has reached a multi-year agreement with FanDuel Group related to horse racing. It will allow the latter's customers to start placing pari-mutuel wagers on horse races in 2023. CDI owns and operates eight states and sportsbooks. The Breeders’ Cup World Championships begin on Friday at Keeneland Race Course in Lexington, Ky. and offer combined prize money of more than $30 million.
