Churchill Downs Incorporated partners with bet365 in Pennsylvania
Presque Isle Downs & Casino, Churchill Downs Incorporated’s subsidiary, has signed a deal with a wholly-owned U.S. subsidiary of bet365 Group for online sports betting and igaming market access.
US.- Churchill Downs Incorporated has announced that Presque Isle Downs & Casino, the company’s wholly-owned subsidiary, has entered into a multi-year agreement with a wholly-owned U.S. subsidiary of bet365 for online sports betting and igaming market access in Pennsylvania. The deal is subject to necessary regulatory approvals.
Bill Carstanjen, CEO of CDI, said: “We are pleased to partner with a global leader in the online gaming industry. Our relationship with bet365 enables us to maximize the value of our company’s sports betting and iGaming market access in Pennsylvania.”
A bet365 spokesperson added: “Off the heels of our launch in Ohio, we are thrilled to announce our partnership with Churchill Downs Incorporated. Once live, the world’s favourite 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.”
In November, Churchill Downs Incorporated (CDI) announced the completion of its purchase of all of the assets of Peninsula Pacific Entertainment (P2E) for a total consideration of $2.75bn, up from the original consideration of $2.485bn.
The P2E acquisition includes all of P2E’s assets and operations in Virginia, New York, and Sioux City, Iowa, and follows receipt of customary licensing approvals from the Virginia Racing Commission, the New York State Gaming Commission, and the Iowa Racing and Gaming Commission.
Pennsylvania gaming revenue climbs to $452.3m in November
Pennsylvania’s combined revenue from regulated gaming and fantasy contests reached $452.3m in November. That’s a 4.59 per cent increase compared to November 2021.
Sources of gaming revenue regulated by the Pennsylvania Gaming Control Board include slot machines, table games, internet gaming, sports wagering, fantasy contests and video gaming terminals (VGTs). Retail slots revenue increased slightly by 0.04 per cent year-on-year to $185.5m. Retail table games revenue decreased 4.4 per cent to $79.2m.
