Summary
- The deal is a multi-year agreement.
- Bet365 will now expand its presence in the US.
- Churchill Downs will now focus on its TwinSpires brand.
On Monday, Churchill Downs Incorporated announced that one of its subsidiaries has signed a new agreement with bet365.
Presque Isle Downs & Casino is the latest partner of the brand, entering a multi-year deal to offer online casino gaming and sports betting in the Keystone State.
Ready to Launch Online
Presque Isle and bet365 are ready to work together in both sectors of the online market of Pennsylvania. Churchill Downs CEO Bill Carstanjen commented on the new deal stating that the company is pleased to be working with bet365, a global leader in the online gambling industry. The relationship will allow the company to maximize the value of its sports betting and online casino market access in the state.
The deal comes as Churchill Downs looks to remove itself from the online casino and sports betting business. The company wants to continue to work with hits online gaming market rights but focus more on its TwinSpires brand.
TwinSpires is an online horse racing business that Churchill Downs is passionate about. It is the focus of the company since it centers on what Churchill Downs started with in the gambling industry. The deal with bet365 is subject to regulatory approval and helps the online gaming company to expand its services further in the United States.
More Opportunity for bet365 in the US
The online gambling brand is already successful in the US, with operations in Colorado, New Jersey, and Ohio. The company also offers services in Ontario for Canadian players. Sports betting and casino gaming is the focus of bet365 with something for every type of player on offer.
Bet365 is doing well in the United States, despite its small presence. Annually, the company generates around $4 billion, though this amount would be much higher if services were offered in other states. A spokesperson for bet365 commented on the recent deal, stating that it comes just after the brand launched in Ohio.
The iGaming company is excited to be working with Churchill Downs Incorporated and offering online sports betting and casino games to fans in Pennsylvania. The brand offers several unique features that sports fans are sure to appreciate including Same Game Parlay, Edit Ben and Bet Boosts.
Pennsylvania is a solid state for bet365 to enter due to its open market for sports betting and casino gaming. The state has a large population which will allow the brand to grow considerably and hopefully move into other states in the future.
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