US-based racing, gaming, and online entertainment company, Churchill Downs Incorporated (CDI) has announced that it will be entering the online sports betting sector in the US through two new partnership agreements with SBTech and the Golden Nugget Atlantic City.
The agreement between CDI and SBTech will see the later provide an online gaming platform including a consumer website, mobile apps, and back office systems.
The aim of the partnership with SBTech is for CDI to enter the online gambling sectors of New Jersey and Pennsylvania, where online gambling and sports betting has already been approved. Mississippi will also be targeted but only for sports betting.
Commenting on the new partnership with SBTech Bill Carstanjen, CEO of Churchill Downs, said: “We have the unique opportunity to leverage our knowledge and experience operating the largest legal online horse racing wagering business in the U. as we enter the online gambling and sports betting markets.”
Richard Carter, Chief Executive Officer of SBTech added: “We are thrilled to be partnering with Churchill Downs and to introduce our award-winning iGaming and sports betting platforms in the US We both share a deep commitment to technological innovation and excellence, and we look forward to working with them during this exciting time in the history of the US gaming market.
The announcement was quickly followed by the release of another agreement between CDI and the Golden Nugget Atlantic City to enter into the New Jersey real money online gaming sector.
“We welcome Churchill Downs, a respected US gaming operator with online wagering experience, to New Jersey,” said Thomas Winter, Senior Vice President and General Manager, Online Gaming for Landry's Golden Nugget. “The addition of their offering will allow Golden Nugget Atlantic City to cater to an even larger demographic of New Jersey online players.”
CDI had acquired properties in both Pennsylvania in the form of Presque Isle Downs &Casino for $179m and the Lady Luck Casino in Mississippi for $50.5m earlier this year with the intent of participating in the two states online gambling markets.
The new partnerships are pending on the approval of pending legislation surround sports betting and the approval of gaming licenses for CDI.