Churchill Downs Incorporated Launches Online Sports Betting with TwinSpires Mobile App in Indiana, Pennsylvania and Colorado
April 26 2021 - 4:05PM
Churchill Downs Incorporated (“CDI” or the “Company”) (Nasdaq:
CHDN) announced today the introduction of its TwinSpires Sports
mobile app in Indiana and TwinSpires Casino & Sports app in
Pennsylvania on Monday, April 19, 2021. The app debut in both
states accompanies the rebrand of CDI’s sportsbook and iGaming
desktop product as TwinSpires. The Company also launched its online
sports betting operations in Colorado on Friday, April 23, 2021
with TwinSpires Sports mobile app and desktop product.
“We are excited to offer our state-of-the-art
sportsbook app and market leading promotions in Indiana,
Pennsylvania and Colorado a week before our biggest event of the
year, the Kentucky Derby,” said Ian Williams, president of
TwinSpires. “Because we are backed by Churchill Downs, the home of
the Kentucky Derby, we can leverage nearly 150 years of wagering
history to offer the best sports betting experience. Now players in
these states can place their bets on both sports and next
Saturday’s Run for the Roses through TwinSpires.”
TwinSpires players in Indiana, Pennsylvania and
Colorado will now be able to bet on professional sports including
NBA, NFL, MLB, NHL and PGA, as well as collegiate sports and events
from around the world. In Pennsylvania, online casino players will
be able to enjoy traditional casino games such as blackjack and
roulette, as well as a large selection of online slots and ‘live
dealer’ games.
CDI launched the first TwinSpires Sportsbook and
iGaming platform in January 2021 through a technology platform
powered by GAN Limited and Kambi Group PLC. Since that time, the
Company has debuted TwinSpires Sports mobile apps in Michigan,
Tennessee, Indiana, Pennsylvania and Colorado in addition to
TwinSpires Casino mobile app offerings in Pennsylvania and
Colorado.
About Churchill Downs
Incorporated
Churchill Downs Incorporated is an
industry-leading racing, online wagering and gaming entertainment
company anchored by our iconic flagship event, the Kentucky Derby.
We own and operate three pari-mutuel gaming entertainment venues
with approximately 3,050 historical racing machines in Kentucky. We
also own and operate TwinSpires, one of the largest and most
profitable online wagering platforms for horse racing, sports and
iGaming in the U.S. and we have seven retail sportsbooks. We are
also a leader in brick-and-mortar casino gaming in eight states
with approximately 11,000 slot machines and video lottery terminals
and 200 table games. Additional information about CDI can be found
online at www.churchilldownsincorporated.com.
Certain statements made in this news release
contain various “forward-looking statements” within the meaning of
the “safe harbor” provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are typically
identified by the use of terms such as “anticipate,” “believe,”
“could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,”
“predict,” “project,” “seek,” “should,” “will,” and similar words
or similar expressions (or negative versions of such words or
expressions).
Although we believe that the expectations
reflected in such forward-looking statements are reasonable, we can
give no assurance that such expectations will prove to be correct.
Important factors, among others, that may materially affect actual
results or outcomes include the following: the impact of the novel
coronavirus (COVID-19) pandemic and related economic matters on our
results of operations, financial conditions and prospects; the
occurrence of extraordinary events, such as terrorist attacks,
public health threats, civil unrest, and inclement weather; the
effect of economic conditions on our consumers' confidence and
discretionary spending or our access to credit; additional or
increased taxes and fees; the impact of significant competition,
and the expectation the competition levels will increase; changes
in consumer preferences, attendance, wagering, and sponsorships;
loss of key or highly skilled personnel; lack of confidence in the
integrity of our core businesses or any deterioration in our
reputation; risks associated with equity investments, strategic
alliances and other third-party agreements; inability to respond to
rapid technological changes in a timely manner; concentration and
evolution of slot machine manufacturing and other technology
conditions that could impose additional costs; inability to
negotiate agreements with industry constituents, including horsemen
and other racetracks; inability to successfully expand our
TwinSpires Sports and Casino business and effectively compete;
inability to identify and complete expansion, acquisition or
divestiture projects, on time, on budget or as planned; difficulty
in integrating recent or future acquisitions into our operations;
costs and uncertainties relating to the development of new venues
and expansion of existing facilities; general risks related to real
estate ownership and significant expenditures, including
fluctuations in market values and environmental regulations;
reliance on our technology services and catastrophic events and
system failures disrupting our operations; online security risk,
including cyber-security breaches, or loss or misuse of our stored
information as a result of a breach, including customers’ personal
information, could lead to government enforcement actions or other
litigation; personal injury litigation related to injuries
occurring at our racetracks; compliance with the Foreign Corrupt
Practices Act or applicable money-laundering regulations;
payment-related risks, such as risk associated with fraudulent
credit card and debit card use; work stoppages and labor issues;
risks related to pending or future legal proceedings and other
actions; highly regulated operations and changes in the regulatory
environment could adversely affect our business; restrictions in
our debt facilities limiting our flexibility to operate our
business; failure to comply with the financial ratios and other
covenants in our debt facilities and other indebtedness; and
increase in our insurance costs, or obtain similar insurance
coverage in the future, and inability to recover under our
insurance policies for damages sustained at our properties in the
event of inclement weather and casualty events.
We do not undertake any obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
law.
Investor Contact: Nick Zangari |
Media Contact: Tonya Abeln |
(502) 394-1157 |
(502) 386-1742 |
Nick.Zangari@KyDerby.com |
Tonya.Abeln@KyDerby.com |
Churchill Downs (NASDAQ:CHDN)
Historical Stock Chart
From Aug 2024 to Sep 2024
Churchill Downs (NASDAQ:CHDN)
Historical Stock Chart
From Sep 2023 to Sep 2024