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Churchill Downs to Explore Sale of Betting Unit TwinSpires

  • Wagering arm may fetch $1.5 billion in any transaction
  • TwinSpires is the official betting partner of Kentucky Derby
Horses round the first turn at Churchill Downs during the 147th Running of the Kentucky Derby in Louisville, Kentucky, on May 1, 2021.

Horses round the first turn at Churchill Downs during the 147th Running of the Kentucky Derby in Louisville, Kentucky, on May 1, 2021.

Photographer: Luke Sharrett/Bloomberg
Updated on

Churchill Downs Inc. is exploring options including a sale of TwinSpires Racing, the official betting partner of the Kentucky Derby among other races, according to people with knowledge of the matter. The shares rose on the news.

The Louisville, Kentucky-based company is working with an adviser to solicit potential interest in the wagering platform, said the people, who requested anonymity discussing information that isn’t yet public. TwinSpires could fetch $1.5 billion in any transaction, one of the people said, cautioning that no final decision has been made and Churchill Downs could continue to own the platform.