Churchill Downs, DraftKings enter agreement to develop, launch DK HORSE

Churchill Downs (CHDN) and DraftKings (DKNG) announced a multi-year agreement that will bring pari-mutuel wagering on horse racing to DraftKings. CDI’s subsidiary, TwinSpires, will provide advance deposit wagering technology to DraftKings. TwinSpires is the premier, market leading online horse racing wagering platform in the U.S. DraftKings will launch DK HORSE in the coming months, which will allow DraftKings’ eligible customers to bet on horse racing using a standalone branded app. DK HORSE is expected to be available initially in 21 states, pending all necessary licensing and regulatory approvals, and is scheduled to launch ahead of the 149th running of the Kentucky Derby in May 2023. Under the agreement, CDI will provide DraftKings pari-mutuel wagering rights to horse racing content owned or controlled by CDI, including the Kentucky Oaks and Kentucky Derby. "We believe the depth and quality of our online offering through TwinSpires is unmatched in horse racing," said Bill Carstanjen, CEO of CDI. "We are excited to establish this relationship with DraftKings and to deliver a full end-to-end white label ADW solution that will introduce their significant base of sports betting customers to horse racing wagering."