Churchill Downs Incorporated (CDI), a horse racing company and owner of the Churchill Downs racetrack, has penned a new strategic deal. The racing expert joined forces with FanDuel, one of the leaders in US gambling. As per the agreement, Churchill Downs will supply its new partner with its advanced horse racing solutions.
CDI to Power FanDuel with Horse Racing Content
Churchill Downs will notably provide FanDuel with tech and services that allow the operator’s customers to place pari-mutuel bets on CDI-owned races. In addition, Churchill Downs will power FanDuel with its non-exclusive Kentucky Derby sponsorship rights and will allow FanDuel to broadcast CDI-branded racing content. In return, FanDuel will pay customary content fees when it takes wagers on said content and an annual fee for the Kentucky Derby sponsorship.
As for the broadcasts, FanDuel will get to stream content from all of Churchill Downs’ thoroughbred racetracks, including the company’s flagship racetrack in Louisville. According to Churchill Downs, this agreement includes certain content, such as the Kentucky Derby week.
As announced by the two companies, their partnership will kick in on January 2023.
The Parties Are Looking Forward to Working Together
Amy Howe, chief executive officer of FanDuel, spoke about the new agreement with Churchill Downs. She said that the launch of FanDuel TV is the perfect time to provide fans with more horse racing content. Howe noted that the company hopes to engage its bettors with content and provide them with a “seamless wagering experience with a single wallet.”
According to Howe, the whole FanDuel team is most excited to offer betting on the famous Kentucky Derby, an annual horse racing event in Louisville.
We are especially pleased that we will be able to offer wagering on the most exciting two minutes in sports, the Kentucky Derby, and that we will have exclusive broadcast rights to the Churchill Downs Incorporated family of tracks on FanDuel TV. We look forward to creating new audiences for horse racing.Amy Howe, CEO, FanDuel
Bill Carstanjen, chief executive of Churchill Downs Incorporated, said that his team is also glad to team up with FanDuel and power the gambling juggernaut with premium horse racing content. He is sure that the pairing of FanDuel’s marketing and Churchill Downs’ content will result in great betting products.
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.Bill Carstanjen, CEO, Churchill Downs Incorporated
In other news, Churchill Downs just expanded into New Hampshire after acquiring a new gaming hall in Salem.