October 6, 2022

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NYRA subsidiary buys almost half of United Tote

Churchill Downs Included at present introduced that it has entered into an settlement to promote a 49% stake in United Tote Firm, a subsidiary of CDI, to NYRA Content material Administration Options, a subsidiary of the New York Racing Affiliation.

NYRA is a nonprofit company that operates the three largest Thoroughbred racetracks within the state of New York—Aqueduct race observe in South Ozone Park, Queens; Belmont Park in Elmont; and Racecourse Saratoga in Saratoga Springs.

The transaction is topic to regular and customary closing circumstances, together with relevant regulatory notices and approvals, and is predicted to shut by the top of 2022. As a part of the settlement, the operation is predicted to shut by the top of 2022. United Tote pari-mutuel settlement enterprise might be excluded and can stay with CDI.

CDI and NYRA intend to work collectively to create and ship an industry-leading complete and environment friendly pari-mutuel answer by means of United Tote that may drive the continued enlargement of horse racing throughout staking platforms. sports activities to succeed in new prospects. Pending correct regulatory approvals, the NYRA will transfer its pari-mutuel betting processing to United Tote in 2023 beneath a separate association.

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