Churchill Downs (NASDAQ:CHDN)
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6 Months : From Mar 2018 to Sep 2018
LONDON, May 16, 2018 /PRNewswire/ --
US's largest legal online account wagering platform for horseracing selects SBTech for iGaming platform and sports betting solutions as US market expands with repeal of PASPA
SBTech announced today the signing of a long-term agreement with Churchill Downs Incorporated (CDI) to provide its integrated technology platform for sports betting and iGaming solutions across the United States.
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This marks the first partnership of its kind between an award-winning European platform provider and a leading US multi-jurisdictional racing and gaming operator since the US Supreme Court's historic decision overturning the federal ban on sports betting.
"We are thrilled to have Churchill Downs as our first US partner," said Richard Carter, CEO of
SBTech. "Churchill is not only an iconic brand with the largest on-line horse race wagering business in the US, but it is also one of the fastest growing gaming operators in the nation. The combination of Churchill's leading presence in the US market, coupled with SBTech's deep expertise in regulated sports betting markets globally, makes for an ideal partnership as we enter this monumental chapter in the US gaming industry."
SBTech has been preparing for entry into the US market with a keen focus on development of the most entertaining sports and iGaming products, and will work in close partnership with Churchill to deploy a cutting edge platform designed to engage the world's largest sports centric audience.
Subject to the unfolding of the regulatory landscape and relevant licensing approvals, SBTech will provide Churchill with its powerful sports betting platform with unparalleled event coverage, in addition to SBTech's Chameleon360 iGaming platform with advanced player management services, high-end analytics, anti-money laundering and responsible gambling features, robust regulatory reporting and streamlined payments.
"We are very excited to partner with SBTech, which we believe provides us with the industry leading platform to offer exciting, innovative integrated iGaming and sports betting products," said Bill Carstanjen, CEO of Churchill Downs. "We have the unique opportunity to leverage our knowledge and experience as this market emerges, and look forward to working with a global technology leader in this space as we expand our operations across the US."
Richard Carter, CEO of SBTech added "We are thrilled to be partnering with Churchill Downs and to introduce our award-winning iGaming and sports betting platforms in the US, we both share a deep commitment to technological innovation and excellence with responsible gaming at the center of everything we do, and we look forward to partnering with them during this exciting time in the history of the US gaming market."
SBTech is a global leader in omni-channel sports betting and gaming, with over 1,000 employees in 11 locations worldwide. Since 2007, SBTech has developed the industry's most powerful online sports betting and casino platform, serving more than 50 licensees in over 14 regulated markets.
SBTech's clients include many of the world's premier betting and gaming operators, state lotteries, land-based casino and horse racing companies, and iGaming start-ups. The SBTech offering includes its Seamless Sportsbook, the Chameleon360 iGaming Platform, Managed Services, and retail and omni-channel solutions that provide players with constant access to sports and casino products across all touchpoints: online, mobile and retail.
Backed up by unrivalled expertise in trading and risk management, regulatory compliance, AML and KYC procedures, acquisition and CRM, SBTech's partners consistently achieve rapid growth, enhanced brand loyalty and peak profitability. Additional information about SBTech can be found online at www.sbtech.com
About Churchill Downs Incorporated
Churchill Downs Incorporated (CDI) (Nasdaq: CHDN), headquartered in Louisville, Kentucky, is an industry-leading racing, gaming and online entertainment company anchored by the iconic flagship event - The Kentucky Derby. CDI is the largest legal online account wagering platform for horseracing in the U.S., through ownership of TwinSpires.com and has announced plans to enter the US real money online gaming and sports betting markets. CDI is also a leader in brick-and-mortar casino gaming with approximately 10,000 gaming positions in eight states.