Churchill Downs Incorporated (CDI) has moved quickly in the aftermath of the U.S. Supreme Court’s decision to strike PASPA down agreeing a strategic partnership with SBTech and heralding its entry into the actual money online gambling 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 site, mobile apps, and back office systems, pursuant to that CDI may offer branded products independent from TwinSpires.com to its iGaming and sports betting clients.
The strategic partnership with SBTech is initially meant to empower CDI to enter New Jersey and Pennsylvania, that were already approved iGaming and sports betting.
CDI’s entrance into New Jersey is going to be facilitated by an arrangement with Golden Nugget while entrance into Pennsylvania will hinge on CDI’s declared acquisition of Presque Isle Downs & Casino in Erie, Pennsylvania in Eldorado Resorts, Inc. and a state that requires Eldorado to apply for certain iGaming licenses inside regulatory windows.
In addition, the strategic partnership will enable CDI to input Mississippi for sport wagering in which the company owns two existing brick-and-mortar casinos which will be utilised to offer on-property sports betting products.
&ldquoWe’re confident that our strategic partnership with SBTech supplies us with an industry leading platform to offer exciting and innovative, integrated iGaming and sports betting products,” Bill Carstanjen, CEO of Churchill Downs, said.
“We now have the exceptional opportunity to leverage our expertise and experience operating the largest legal online horse racing wagering company in the U.S. as we enter the iGaming and sports betting markets. ”
CDI and SBTech’s entrance in these states is subject to gambling license approvals and finalisation of iGaming and sports betting regulations.
“We both share a deep commitment to technological innovation and excellence, and we look forward to working with them during this exciting period in the history of the U.S. gambling marketplace. ”