Churchill Downs Incorporated (“CDI” or the “Company”) (Nasdaq: CHDN) announced Monday that Presque Isle Downs & Casino (“Presque Isle”), the Company's wholly-owned subsidiary, has entered into a multi-year agreement with a wholly-owned U.S. subsidiary of bet365 Group Ltd (“bet365″) for online sports betting and iGaming market access in Pennsylvania, subject to necessary regulatory approvals.
“We are pleased to partner with a global leader in the online gaming industry,” said Bill Carstanjen, CEO of CDI. “Our relationship with bet365 enables us to maximize the value of our company's sports betting and iGaming market access in Pennsylvania.”
The bet365 agreement is consistent with CDI's strategy to exit the online sports and casino business, monetize the Company's online sports and iGaming market access rights and remain focused on growing the TwinSpires online horseracing wagering business.
“Off the heels of our launch in Ohio, we are thrilled to announce our partnership with Churchill Downs Incorporated,” a bet365 spokesperson said. “Once live, the world's favorite online sports betting brand will be available to sports fans in Pennsylvania, offering fantastic site features, including Bet Boosts, Same Game Parlay, Cash Out and Edit Bet, on top of our market-leading sign-up offer.”
About Churchill Downs Incorporated
Churchill Downs Incorporated (“CDI”, NASDAQ: CHDN) has been creating extraordinary entertainment experiences for nearly 150 years, beginning with the company's most iconic and enduring asset, the Kentucky Derby. Headquartered in Louisville, Kentucky, CDI has expanded through the development of live and historical racing entertainment venues, the growth of the TwinSpires horse racing online wagering business and the operation and development of regional casino gaming properties. More information is available at www.churchilldownsincorporated.com.
About bet365
bet365 is the world's largest online sports betting company with annual sportsbook revenues of almost $4 billion and over 6,000 employees around the globe. On its world-class proprietary product, bet365 offers the industry's widest range of 'In-Game' sports betting events with over 75 sports covered and over 780,000 events being live video-streamed annually to 88 million registered customers from over 160 countries across the world.
Cultural and linguistic zones around the globe are serviced using geo-specific content and 21 different languages to enhance the customer experience, which is further improved through the offering of 23 different deposit currencies and 50 payment methods.
bet365 has extensive experience working with local licensing, regulatory and reporting requirements across its global footprint and pays substantial duties and license fees in each of those jurisdictions.
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