CDI and NYRA Join Forces to Revolutionize Horse Racing Wagering

Churchill Downs Incorporated (CDI) and the New York Racing Association (NYRA) are embarking on a transformative collaboration. CDI is divesting a 49% ownership interest in its United Tote subsidiary to NYRA Content Management Solutions, a division of NYRA. This strategic partnership seeks to reshape the horse racing landscape by integrating it into the sports wagering realm.

Although CDI will maintain control of United Tote’s pari-mutuel settlement operations, the joint effort will capitalize on the strengths of both entities. NYRA, a not-for-profit entity overseeing the esteemed Aqueduct Racetrack, Belmont Park, and Saratoga Race Course, will transition its pari-mutuel betting activities to the United Tote system in 2023.

This shift is projected to engage a new demographic of enthusiasts by delivering a streamlined and comprehensive wagering platform. Both CDI and NYRA are dedicated to developing best-in-class solutions via United Tote, ushering in a modernized era for horse racing.

The transaction, anticipated to finalize by late 2022, aligns with CDI Chief Executive Officer Bill Carstanjen’s outlook for the company’s trajectory, as articulated in their latest earnings report. This alliance represents a significant stride towards modernizing the sport and broadening its appeal within the dynamic sports betting market.

Hes certain that wagering on equines will be accessible shortly on sports gambling sites nationwide, reaching all punters in the U.S., the piece claimed. This follows a collaboration earlier this year between industry giant Caesars Sportsbook and NYRA Bets, the New York Racing Association’s official betting platform. They introduced a novel application dubbed “Racebook,” which premiered in Florida and Oregon at the beginning of June.