Churchill Downs Inc. CEO Bill Carstanjen announced Thursday that the company is abandoning the online sports and casino wagering industry just three years after establishing an online sports betting and casino business in New Jersey under its now-defunct BetAmerica brand.
During a conference call with investors, Carstanjen said, “We will depart the (business-to-consumer) online wagering industry.” “While this isn’t the desired outcome, it is the wise next step.”
Churchill reported a $31.9 million loss on sports in its 2021 financial report, but a consistent gain in the broader TwinSpires operation, which includes horse racing.
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