{"id":199,"date":"2024-06-18T03:16:34","date_gmt":"2024-06-18T00:16:34","guid":{"rendered":"https:\/\/yabbynodepositbonus.icu\/2024\/06\/18\/churchill-downs-explores-sale-of-twinspires-racing-division\/"},"modified":"2024-06-20T17:10:33","modified_gmt":"2024-06-20T14:10:33","slug":"churchill-downs-explores-sale-of-twinspires-racing-division","status":"publish","type":"post","link":"https:\/\/yabbynodepositbonus.icu\/2024\/06\/18\/churchill-downs-explores-sale-of-twinspires-racing-division\/","title":{"rendered":"Churchill Downs Explores Sale of TwinSpires Racing Division"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/b77AWjeBql0\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Financial news source Bloomberg has revealed that Churchill Downs Inc. is contemplating divesting its TwinSpires Racing division, citing confidential informants.  A prominent name in online equine wagering and a collaborator on prestigious events such as the Kentucky Derby, TwinSpires&#8217; potential sale caused a surge in its parent company&#8217;s share value. <\/p>\n<p>Although Churchill Downs has refrained from making a statement, unnamed sources indicate that the Louisville-headquartered enterprise has engaged advisors to solicit bids for the platform.  A prospective transaction could realize approximately $1.5 billion, although sources emphasize that no definitive resolution has been reached and TwinSpires remains under the control of Churchill Downs presently.<\/p>\n<p>This development propelled the $8.8 billion corporation&#8217;s stock to $236.26.  The possibility of a sale follows a period of robust results for TwinSpires, with a 56% rise in adjusted EBITDA in the third quarter of 2021 compared to the corresponding period in 2019.  The platform also experienced a 31% increase in betting volume between the third quarter of 2019 and the third quarter of 2021, as disclosed by Churchill Downs in late October. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financial news source Bloomberg has revealed that Churchill Downs Inc. is contemplating divesting its TwinSpires&#8230;<\/p>\n","protected":false},"author":78,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>TwinSpires Sale: Churchill Downs Stock Soars on Divestment Rumors<\/title>\n<meta name=\"description\" content=\"Whispers of a TwinSpires sale have sent Churchill Downs stock soaring! Bloomberg reports the racing and online wagering giant might be on the auction block. 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