Churchill Downs Incorporated (“CDI”) (NASDAQ:CHDN) and DraftKings Inc. (NASDAQ:DKNG) (“DraftKings”) announced today a multi-year agreement that will bring pari-mutuel wagering on horse racing to DraftKings. CDI’s subsidiary, TwinSpires, will provide advance deposit wagering (“ADW”) 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. The initial launch of DK HORSE will require customers to sign up and deposit funds separate from that of their one account, one wallet tethered to the DraftKings Sportsbook, Casino and daily fantasy sports apps. Plans to integrate DK HORSE into the DraftKings product suite will be announced at a later date. 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.
