Churchill Downs Partners with bet365 to Bring Online Sports Betting and iGaming to Pennsylvania

Presque Isle Downs & Casino, a branch of Churchill Downs Incorporated (CDI), has joined forces with bet365 to introduce internet sports wagering and iGaming to the Keystone State. This agreement is still pending regulatory approval, but it represents a crucial element of CDI’s strategy to move away from directly managing online gambling sites. Instead, they aim to capitalize on their current permits and prioritize the expansion of their horse racing platform, TwinSpires.

CDI’s Chief Executive Officer, Bill Carstanjen, conveyed his enthusiasm about collaborating with bet365, a worldwide frontrunner in the online betting realm. He views this alliance as a means to optimize the worth of their Pennsylvania licenses. This approach mirrors a pattern observed among other prominent industry players, such as the attractive promotions bet365 implemented prior to Ohio’s sports betting debut in 2022 – for instance, complimentary $100 wagers for early adopters.

A representative for bet365 emphasized their eagerness to unite with CDI subsequent to their recent foray into the Ohio market. This collaboration signifies an increasing tendency among well-established gaming corporations to utilize strategic alliances to penetrate new and profitable markets.

The worlds leading online sports wagering platform expressed their excitement about introducing the Bet365 encounter to enthusiasts in Pennsylvania, providing an exceptional selection of options such as wager enhancements, single-event accumulators, pre-match payouts, and bet modifications, in addition to their industry-best registration offer,” stated a spokesperson for the company.

Bet365 recently disclosed earnings of £2.85 billion (roughly $3.38 billion) for the financial period concluding March 27, 2022. This robust outcome was fueled by the achievements of their gaming division, which witnessed a 3% year-on-year rise in revenue.

Although sports wagering income saw a minor decline of 2%, gaming income surged by an impressive 25%. Bet365 ascribed this expansion to enhanced margins, heightened overall betting engagement, and a 48% increase in active users.