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Churchill Begins Internet Buys With Youbet For US$126m

Friday, 13th November 2009

Churchill Downs followed this week’s purchase of Youbet.com & its United Tote subsidiary for US$126.8 million with the announcement it “is on the lookout for other prospective purchases in the area of internet wagering,” reported bloodhorse.com. Churchill president Robert Evans confirmed overnight: “We’re well-positioned to pursue other on-line business opportunities as they develop.” In 2007, Churchill acquired AmericaTAB, Bloodstock Research Information Services & Thoroughbred Sports Network for US$80 million; AmericaTAB & Brisnet.com operated advance deposit wagering platforms that were absorbed by the Churchill-operated TwinSpires.com. Evans said ADW & on-track wagering on live racing “are the 2 areas for potential growth in pari-mutuel handle”.

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