Churchill Downs to acquire 25 percent of Saratoga Harness Racing

Friday August 1,2014 :  INTERNET IMPLICATIONS IN C.D.I. DEAL WITH SARATOGA
 
By acquiring a 25 percent stake in harness racing firm, Churchill Downs could receive online gambling advantages.
 
Speaking to Kentucky.com Thursday about a pending deal to acquire 25 percent of Saratoga Harness Racing Inc., executives from Churchill Downs said the agreement carried with it valuable online gambling advantages.
 
Churchill CFO Bill Mudd said the deal includes a management contract for land casinos in New York and Colorado, and is "strategically important because provides it provides CDI with an option in internet gaming in tow states, should [the pastime] be legalised."
 
Churchill Downs has recently ramped up its internet gaming division, spending millions on an in-house developed platform (see previous InfoPowa reports) as well as attempting to buy into an Atlantic City casino to gain access to the New Jersey online gambling market.
 
The company has also invested in an online poker presence, although it does not presently offer online poker, and operates a bingo-type online game that offers players real money rewards, called Luckity.
 
Bill Carstanjen, Churchill Downs Inc. president and chief operating officer said that the company believes the deal with Saratoga Harness has the potential for internet gambling. "It wasn't the driver but is always something we look for in the mix," he said.