SBTech partners Churchill Downs in the U.S. market
News on 16 May 2018
News on 16 May 2018
Churchill Downs Incorporated (CDI) has moved quickly in the wake of the U.S. Supreme Court’s decision to strike PASPA down agreeing a strategic partnership with SBTech and heralding its entry into the real money online gaming and sports betting markets in the U.S.
Under the terms of the deal, SBTech will supply its integrated technology platform for CDI’s iGaming and sports betting operations consisting of a consumer website, mobile apps, and back office systems, pursuant to which CDI may offer branded products separate from TwinSpires.com to its iGaming and sports betting customers.
The strategic partnership with SBTech is initially intended to enable CDI to enter New Jersey and Pennsylvania, which have already approved iGaming and sports betting.
CDI’s entry into New Jersey will be facilitated by an agreement with Golden Nugget while entry into Pennsylvania will hinge on CDI’s previously announced acquisition of Presque Isle Downs & Casino in Erie, Pennsylvania from Eldorado Resorts, Inc. and a condition that requires Eldorado to apply for certain iGaming licenses within regulatory windows.
In addition, the strategic partnership will enable CDI to enter Mississippi for sports wagering where the firm owns two existing brick-and-mortar casinos that will be utilised to offer on-property sports betting products.
“We are confident that our strategic partnership with SBTech provides us with an industry leading platform to offer innovative and exciting, integrated iGaming and sports betting products,” 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.S. as we enter the iGaming and sports betting markets.”
CDI and SBTech’s entry into these states is subject to gaming license approvals and finalisation of iGaming and sports betting regulations.
“We are thrilled to be partnering with Churchill Downs and to introduce our award-winning iGaming and sports betting platforms in the U.S.,” added Richard Carter, Chief Executive Officer of SBTech.
“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 U.S. gaming market.”
