{"id":108,"date":"2024-06-12T11:36:41","date_gmt":"2024-06-12T08:36:41","guid":{"rendered":"https:\/\/vegas2webnodepositbonus.icu\/2024\/06\/12\/churchill-downs-explores-sale-of-twinspires-betting-platform\/"},"modified":"2024-06-12T11:36:41","modified_gmt":"2024-06-12T08:36:41","slug":"churchill-downs-explores-sale-of-twinspires-betting-platform","status":"publish","type":"post","link":"https:\/\/vegas2webnodepositbonus.icu\/2024\/06\/12\/churchill-downs-explores-sale-of-twinspires-betting-platform\/","title":{"rendered":"Churchill Downs Explores Sale of TwinSpires Betting Platform"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/QSWbugkCOww\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>A Bloomberg article states that Churchill Downs Inc. is investigating a possible divestment of its internet-based horse race betting platform, TwinSpires.  Being the official wagering associate of renowned events such as the Kentucky Derby, TwinSpires occupies a leading role in the sector.  This announcement has generated considerable buzz, causing a surge in the company&#8217;s share value.<\/p>\n<p>Although Churchill Downs has not issued an official statement on the subject, sources indicate that the Louisville-headquartered corporation is actively collaborating with consultants to identify a suitable purchaser for the platform.  While a substantial valuation of $1.5 billion has been suggested, it&#8217;s crucial to emphasize that no definitive resolutions have been reached, and Churchill Downs retains authority over the process.<\/p>\n<p>This situation has reverberated throughout the market, propelling the company&#8217;s worth to $8.8 billion, with stock prices reaching $236.26.  The prospective sale follows a period of robust performance by TwinSpires, with its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the third quarter of 2021 hitting $31.2 million, a notable 56% year-on-year increase.  This expansion is further highlighted by a 31% rise in handle for TwinSpires&#8217; horse racing division between the third quarter of 2019 and the third quarter of 2021. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Bloomberg article states that Churchill Downs Inc. is investigating a possible divestment of its internet-based horse race betting platform, TwinSpires. Being the official wagering associate of renowned events such as the Kentucky Derby, TwinSpires occupies a leading role in the sector. This announcement has generated considerable buzz, causing a surge in the company&#8217;s share [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>TwinSpires Sale? Churchill Downs Explores Divestment<\/title>\n<meta name=\"description\" content=\"Is Churchill Downs parting ways with TwinSpires? Reports suggest the Kentucky Derby owner is considering selling its online horse racing platform. 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