Churchill Downs teams up with Golden Nugget to enter NJ sports betting and online gaming
Matthew J. Belvedere, CNBC · May 16
The alliance between the Kentucky Derby's owner and the Atlantic City casino comes two days after the Supreme Court's sports betting decision.
Churchill Downs also announces a partnership with SBTech to utilize the integrated technology platform for its new gaming operations.
Churchill Downs, the publicly traded racing and gaming company behind the Kentucky Derby, agreed on Wednesday with Golden Nugget Atlantic City to get into the New Jersey legal sports betting and online gaming markets.
The deal comes two days after the Supreme Court cleared the wayfor all states to allow legal sports betting. The high court ruling on Monday upheld a 2014 New Jersey law permitting 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.
The Louisville, Kentucky-based company also announced a partnership with SBTech to utilize the integrated technology platform for its new gaming operations. SBTech has a number of global offices, including in London and in Tel Aviv.
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 sports wagering.
Churchill Downs said it will get into Pennsylvania through its previously announced February acquisition of Erie-based Presque Isle Downs & Casino. In Mississippi, Churchill Downs said it will use its two existing brick-and-mortar casinos to offer on-site sports betting.
Matthew J. Belvedere, CNBC · May 16
The alliance between the Kentucky Derby's owner and the Atlantic City casino comes two days after the Supreme Court's sports betting decision.
Churchill Downs also announces a partnership with SBTech to utilize the integrated technology platform for its new gaming operations.
Churchill Downs, the publicly traded racing and gaming company behind the Kentucky Derby, agreed on Wednesday with Golden Nugget Atlantic City to get into the New Jersey legal sports betting and online gaming markets.
The deal comes two days after the Supreme Court cleared the wayfor all states to allow legal sports betting. The high court ruling on Monday upheld a 2014 New Jersey law permitting 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.
The Louisville, Kentucky-based company also announced a partnership with SBTech to utilize the integrated technology platform for its new gaming operations. SBTech has a number of global offices, including in London and in Tel Aviv.
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 sports wagering.
Churchill Downs said it will get into Pennsylvania through its previously announced February acquisition of Erie-based Presque Isle Downs & Casino. In Mississippi, Churchill Downs said it will use its two existing brick-and-mortar casinos to offer on-site sports betting.
