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Churchill Downs rolls the dice with Golden Nugget to enter NJ sports betting

The company behind the Kentucky Derby reached a deal with Golden Nugget Atlantic City two days after the Supreme Count ruling to legalize sports betting.


Sports gambling will help Atlantic City: Rep. LoBiondo

Rep. Frank LoBiondo (R-N.J.) on the Supreme Court’s decision to give states the power to legalize sports betting.

That’s didn’t take long.

Churchill Downs, the publicly traded racing and gaming company, who is famously behind the Kentucky Derby, announced Wednesday that it has entered an agreement with Golden Nugget Atlantic City to enter into the New Jersey legal sports betting and online gaming markets.

The duo is already targeting the first quarter of 2019 to begin accepting legal wagers for iGaming and other sports betting in the Garden State.

The deal comes two days after the U.S. Supreme Court overturned a 1992 federal law that prohibited sports betting, allowing states to choose whether to legalize it or not.

“We are looking forward to offering integrated iGaming and sports betting products in New Jersey,” Bill Carstanjen, CEO of Churchill Downs, said in a statement on Wednesday, adding that he believes the company now has a “unique opportunity to leverage our knowledge and experience operating the largest legal online horse racing wagering business in the U.S.”

What’s more, Churchill Downs also signed a partnership with SBTech, a sports betting platform provider to allow its customers to place online bets in both Mississippi and Pennsylvania. SBTech plans to design a platform, including a consumer website, mobile apps and back office systems to help them manage iGaming and sports wagering.

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