Contract dispute leads to removal of NYRA content from CDI’s TwinSpires
2nd August 2024 9:58 am GMTHorse racing content from the New York Racing Association (NYRA) has been removed from Churchill Downs Incorporated’s (CDI) TwinSpires advance deposit wagering platform due to a contractual impasse.
Pending a contractual resolution between the two parties, pari-mutuel wagering, live video and race replays from the summer meet at Saratoga Race Course have been unavailable to TwinSpires customers online or at racetracks and sportsbooks owned by CDI since 31 July.
NYRA is seeking financial terms from TwinSpires similar to those currently in place with all national advance deposit wagering platforms that source NYRA content.
Last month a similar situation occurred with Flutter Entertainment’s FanDuel/TVG platform, which eventually reached an agreement with NYRA to settle the contract dispute.
Advance deposit wagering (ADW) operators in New York had previously paid the NYRA a host-fee for content, but this year the NYRA also wants a share of bets placed by New Yorkers.
Following the decision by the NYRA, pari-mutuel wagering and live video from race meets held at racetracks owned, operated or represented by CDI have also been removed from NYRA’s online wagering platform, NYRA Bets, as well as NYRA Bets affiliates.
“Following NYRA’s disturbing recent pattern of demanding significant new economics from ADWs for no additional value in return, NYRA has elected to terminate TwinSpires’ access to its Saratoga signal today,” said Bill Carstanjen, CEO of Churchill Downs Inc. “While we hope to resolve this dispute quickly and amicably, make no mistake that we will continue to advocate for and invest in our customers and this industry.
“NYRA’s reckless pattern reflects an increasingly misguided understanding of how to best serve the racing industry in New York. Their actions are bad for horse racing and negatively impact our fans.”
NYRA said it will continue negotiations with TwinSpires to increase funds flowing to the sport and its stakeholders in New York.
The 2024 summer meet at Saratoga Race Course began in July and runs until Monday September 2.
Shares in Churchill Downs Incorporated (NASDAQ:CHDN) closed 2.51 per cent lower at $139.96 per share in New York Thursday.