bet365 will seek license approval to enter Pennsylvania’s regulated sports betting and iGaming market following a deal with Churchill Downs Incorporated (CDI).
CDI has agreed a deal with a wholly owned U.S. subsidiary of bet365 that will see the online operator launch in Pennsylvania, subject to regulatory approval.
bet365 will enter Pennsylvania through a market access deal with CDI’s Presque Isle Downs and Casino, as CDI advances its previously announced plan to exit the online sports betting and gaming business in the United States.
“We are pleased to partner with a global leader in the online gaming industry,” said Bill Carstanjen, chief executive of CDI. “Our relationship with bet365 enables us to maximize the value of our company’s sports betting and iGaming market access in Pennsylvania.”
A spokesperson for bet365 commented: “Off the heels of our launch in Ohio, we are thrilled to announce our partnership with Churchill Downs Incorporated. Once live, the world’s favorite online sports betting brand will be available to sports fans in Pennsylvania, offering fantastic site features, including Bet Boosts, Same Game Parlay, Cash Out and Edit Bet, on top of our market-leading sign-up offer.”
Shares in Churchill Downs Incorporated (NASDAQ:CHDN) closed 0.5 per cent higher at $218.52 per share in New York Monday, and were 1.8 per cent higher in after-hours trading at $222.46 per share.