Churchill Downs in Deal to Enter Sports Betting in Three States
The Supreme Court ruling May 14 to allow states to offer legal sports betting has a number of gaming companies expanding its reach and partnerships. On Wednesday, Churchill Downs signed a deal with SBTech, a sports betting platform, which will allow the gaming company to offer bets on events in New Jersey, Pennsylvania and Mississippi.
SBTech will provide a consumer website, mobile apps and back office systems to manage online gaming and sports wagering for Churchill Downs.
Churchill Downs, the publicly traded racing and gaming company behind the Kentucky Derby, also entered an agreement to partner with Golden Nugget Atlantic City to get into the New Jersey legal sports betting and online gaming markets. The Supreme Court upheld a 2014 New Jersey law permitted sports betting at casinos and racetracks in the state.
Churchill Downs said it’s targeting the first quarter 2019 to begin accepting legal wagers for sports betting and online gaming in New Jersey.
“We are looking forward to offering integrated iGaming and sports betting products in New Jersey,” said Bill Carstanjen, CEO of Churchill Downs. “We have the unique opportunity to leverage our knowledge and experience operating the largest legal online horse racing wagering business in the U.S. (Twinspires.com) as we enter the iGaming and sports betting markets.”
The partnership with SBTech is intended to first help Churchill Downs enter New Jersey and Pennsylvania for sports betting and online gaming, and then to enter Mississippi for on-site sports wagering through Churchill’s two existing brick-and-mortar casino’s.