Report: Churchill Downs explores sale of TwinSpires betting unit

Report: Churchill Downs explores sale of TwinSpires betting unit
Photo: Eclipse Sportswire

Churchill Downs Inc. is exploring options that include a sale of its TwinSpires Racing wagering platform, Bloomberg reported.

The Louisville, Ky.-based company is working with an adviser to solicit potential interest in the wagering platform, said people with knowledge of the matter who requested anonymity discussing information that isn’t yet public.

One of the people said TwinSpires could fetch $1.5 billion, according to the report, but cautioned that no final decision has been made and Churchill Downs could continue to own the platform.

Tonya Abeln, vice president of communications for CDI, said in an email to Horse Racing Nation, "It is our company policy not to comment on market rumors or unsubstantiated speculation."

Churchill Downs stock rose 6.5 percent Thursday, closing at $230.02 and putting its market capitalization at $8.88 billion. For the year to date, the stock is up 22 percent.

Top Stories

Knicks Go  drew the rail Tuesday, and Life Is Good...
The New York Racing Association spent the second d...
New York The jury in the federal horse-doping tria...
The bulk of the anticipation for the Todd Pletcher...
For three weeks running to start 2022, the number...