Churchill Downs Incorporated In Deal with FanDuel
Horse racing and casino operator Churchill Downs Incorporated (CDI) has inked a content and sponsorship deal with Flutter-owned FanDuel.
The long-term deal cuts across several areas of FanDuel’s business, including its sports betting, advance deposits wagering (ADW), and television services. The agreement will see CDI offer B2B technology and services for the wagering giant’s pari-mutuel bets on horse racing features.
US-based FanDuel customers will also be able to place bets on horse racing markets at a CDI location. The betting platform will also broadcast CDI promotional content on its newly-launched television network and streaming platform.
With the launch of FanDuel TV last week and the upcoming integration of premier racing content into our market-leading sportsbook, we believe this is an inflection point in our ability to offer our customers a seamless wagering experience with a single wallet.
The deal also involves CDI subsidiary, United Tote. FanDuel will pay it to facilitate the pari-mutuel wagering aspects of the agreement. Recently, CDI signed a deal to sell 49% of United Tote to the New York Race Association.
We look forward to working with FanDuel to deliver premium horse racing content to their expansive base of sports wagering customers. We are confident that FanDuel’s market approach teamed with our expertise and technology will seamlessly deliver horse racing content and pari-mutuel wagering solutions to a significant number of new fans.
In May 2022, Churchill Downs announced its plans to shift from casino and sports betting and focus more on horse betting. According to the firm’s CEO, this is due to the high costs of operating in the sports betting industry.