Churchill Downs opts to stop accepting sports bets at racetrack
The company cited low profitability as the reason.
Key Points
- Churchill Downs will allow winners to cash in bets for another few weeks
- The racetrack said it will “focus time and resources elsewhere”
The racetrack at Churchill Downs has decided to stop accepting sports bets, according to a local report from WLKY.
Churchill Downs stopped taking bets on Sunday.
The track said “low profitability from retail operations” influenced its decision to discontinue retail sports betting.
“We’re going to focus our time and resources elsewhere,” a Churchill Downs representative told local news.
The company further said in a statement that “98% of sports betting occurs on mobile platforms like FanDuel and DraftKings, making it unfeasible to continue retail betting.”
Company Director of Communications Darren Rogers added, “There simply isn’t a profitable path forward for us to sustain profitability as a retail operator.”
However, Churchill Downs will allow winning tickets to be cashed in for another couple of weeks, according to the local report.
Churchill Downs is owned by CDI, an online wagering and gaming entertainment company. It currently operates historical racing machines in Kentucky and was recently issued customary approving licenses by Virginia Racing Commission, the New York State Gaming Commission and the Iowa Racing and Gaming Commission.
CDI is based in Louisville, Kentucky and is also the host of the annual Kentucky Derby.
The company launched its newest casino, Terre Haute Casino Resort last April, along with an accompanying hotel last May.
The hotel portion of the new destination features 122 luxury rooms, a hotel pool, rooftop lounge and coffee shop.
THCR offers players 1,000 slot machines, 35 live table games, a sportsbook and a poker room within its 400,000 square feet of gaming space. The Vigo County resort also has nine food and beverage options.
Among those are the Four Cornered Steakhouse, which is a regionally inspired restaurant, and the Altitude Bar and Lounge, Rockwood Bar & Grill, The Soda Shoppe, Crossroads Center Bar and High Limit Bar.
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