Bill Carstanjen
CDI Announces SAP as an Official Signature Partner of the Kentucky Derby
Churchill Downs Incorporated announced a multi-year agreement naming SAP America Inc. an official signature partner of Churchill Downs Racetrack. SAP, a global market leader in enterprise application software, will be the first official technology partner serving Churchill Downs Racetrack, the Kentucky Derby, and Kentucky Oaks. The partnership also includes naming rights for the SAP Starting Gate Suites, a tower of premium, exclusive suites, and designation as the presenting partner of the Kentucky Derby and Churchill Downs mobile applications.
“We are thrilled to welcome SAP as a signature partner of Churchill Downs and the Kentucky Derby. SAP is a tremendous global brand that supports our vision to innovate and fuel growth across our businesses. We are excited to have SAP join our iconic brand at the 150th running of the Kentucky Derby on the first Saturday in May,” Bill Carstanjen, Chief Executive Officer of CDI, said.
“This partnership is a great opportunity for SAP to collaborate with one of the most storied sporting events in the world, the Kentucky Derby. We are proud to work with partners who share our commitment to innovation and are excited to help CDI leverage SAP’s expertise and technology to support the growth of their company,” Lloyd Adams, President of SAP America, said.
Bill Carstanjen
CDI Opens Terre Haute Casino Resort in Terre Haute, Indiana
Churchill Downs Incorporated (CDI) announced the opening of Terre Haute Casino Resort in Terre Haute, Indiana. The $290 million investment includes a casino floor with 1000 slot machines, 36 table games, and a state-of-the-art sportsbook. The 400,000-square-foot entertainment venue also features regionally inspired bars and restaurants including: Four Cornered Steakhouse, Rockwood Bar & Grill, The Soda Shoppe, Crossroads Center Bar, and High Limit Bar.
“Today’s grand opening of Terre Haute Casino Resort is a time to reflect on the promises Churchill Downs made, kept and delivered for this community. An occasion like today feels like the end of all the effort to successfully get us to this point, but it’s actually just the beginning of what this project can do for Vigo County and the State of Indiana,” Bill Carstanjen, CEO of CDI, said.
“This premier gaming facility will make it possible to welcome visitors from across the Midwest, the nation and the world here to Terre Haute. The opportunity this creates for the people of our community is a true testament to the leaders who have worked on this project for years,” said Mayor of Terre Haute, Brandon Sakbun.
Terre Haute Casino Resort marks the Company’s first entertainment venue in Indiana and CDI’s expansion into its 14th state. The Company is scheduled to officially open the property’s remaining amenities, which include a 122-room luxury hotel, rooftop lounge, and coffee shop, to the public on Wednesday, May 15, 2024.
The development of Terre Haute Casino Resort generated nearly 1000 construction jobs and approximately 550 permanent full-time and part-time jobs. CDI officially broke ground on the entertainment venue in June 2022 with construction management partner, Wilhelm Construction.
Bill Carstanjen
CDI Completes Acquisition of Peninsula Pacific Entertainment
Churchill Downs Incorporated (CDI) has completed its acquisition of all Peninsula Pacific Entertainment (P2E) assets for $2.75bn.
The P2E Acquisition includes all of P2E’s assets and operations in Virginia, New York and Sioux City, Iowa, and follows receipt of customary licensing approvals from the Virginia Racing Commission, the New York State Gaming Commission, and the Iowa Racing and Gaming Commission.
“Today marks a significant moment in the evolution of Churchill Downs Incorporated. This transaction meaningfully expands our geographic footprint to Iowa, New York and Virginia, introducing a very unique set of assets and attractive organic growth opportunities to our company. We are excited to welcome the teams from each of these well-established properties into Churchill Downs Incorporated,” Bill Carstanjen, Chief Executive Officer of CDI, said.
Amy Howe
CDI Enters into Multi-year Agreement with FanDuel
Churchill Downs Incorporated (CDI) announced a multi-year agreement with FanDuel Group (FanDuel) involving multiple facets of FanDuel’s sports wagering, advance deposit wagering (ADW), and television businesses.
Under the agreement, CDI will provide certain technology and services to enable FanDuel’s customers to place pari-mutuel wagers on horse racing via FanDuel’s sports wagering and ADW platforms. CDI will also authorize wagering on CDI’s owned or controlled horse racing content via FanDuel’s platforms in the US and grant FanDuel certain television and media rights to broadcast CDI-owned racing content on FanDuel’s television network(s). In addition, the agreement provides FanDuel non-exclusive Kentucky Derby sponsorship rights within the sports wagering category.
Beginning in January 2023, FanDuel will pay for CDI technology and services provided by United Tote Company (United Tote) to facilitate pari-mutuel wagering on FanDuel’s platforms in the US, including FanDuel Sportsbook and TVG. As previously announced, CDI has entered into an agreement to sell 49% of United Tote to New York Racing Association in a transaction that is expected to close by the end of 2022.
CDI will provide FanDuel wagering rights to horse racing content owned or controlled by CDI, including the Kentucky Derby, and will receive customary content fees when FanDuel accepts wagers on CDI-owned content. FanDuel will also receive exclusive television rights to the racing content of all CDI thoroughbred racetracks, including Churchill Downs Racetrack, once its existing non-Derby media rights deal expires in 2023. The agreement excludes certain specified racing content, including Kentucky Derby Week.
As part of the agreement, FanDuel will also receive a non-exclusive sponsorship of the Kentucky Derby in the sports wagering category beginning in 2023 in exchange for an annual sponsorship fee.
“With the launch of FanDuel TV last week and the upcoming integration of premier racing content into our market-leading sports book, we believe this is an inflection point in our ability to offer our customers a seamless wagering experience with a single wallet,” Amy Howe, CEO of FanDuel, said.
“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 added.
“We look forward to working with FanDuel to deliver premium horse racing content to their expansive base of sports wagering customers. 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 of CDI, said.
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