Legalised online and sports gambling attractive to Churchill Downs

US racing corporate Churchill Downs Inc., revealed part of its future motivation in a conference call following the release this week of its Q1-2018 results (see previous report).

That motivation includes growth in states where online gambling and sports betting has or may become legal following state legislation (as is currently the case in New Jersey, Pennsylvania, Delaware and Nevada) or following a favourable decision by the US Supreme Court in the New Jersey case.

CEO Bill Carstanjen said that the company’s strategy focused on investing in modest-sized casino properties with limited capital footprints and amenities and with stable, predictable cash flows in diverse markets.

And he added: “We also like states that we believe may ultimately grant access to online gaming and even potentially to sports betting to their brick and mortar casino license holders should either form of alternative gaming become legal in the relevant jurisdiction.”

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