Churchill Downs, a casino, sports betting and racing operator, has agreed to sell 49 percent of United Tote to NYRA Content Management Solutions as part of a deal that they have entered into.

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Comprehensive And Efficient Industry-Leading Pari-Mutuel Solution

It is anticipated that the transaction between CDI and the New York Racing Association subsidiary will be finalized by the end of this year, provided that the standard and customary closing conditions are met, such as receiving the necessary notices and approvals from the relevant regulatory agencies.

In addition, as a result of the arrangement, the United Tote pari-mutuel settlements business will not be transferred to Churchill Downs; rather, it will continue to be operated by Churchill Downs.

It has been announced by both CDI and NYRA that the two organizations intend to collaborate on the development and provision of a “comprehensive and efficient industry-leading pari-mutuel solution” by means of United Tote.

This solution is expected to hasten the incorporation of horse racing into sports wagering platforms in order to attract a larger number of new customers. Under the terms of a separate agreement, NYRA is planning to hand over the management of its pari-mutuel wager processing to United Tote in 2023, pending permission from the relevant regulatory authorities.

Disclosing its Five-Point Strategic Plan 

Aqueduct Racetrack is located in South Ozone Park, Queens. Saratoga Race Course is located in Saratoga Springs. Belmont Park is located in Elmont. Saratoga Race Course is located in Saratoga Springs. NYRA is a not-for-profit corporation that operates all three Thoroughbred horse racing tracks in the state of New York.

This news comes only a few weeks after Churchill Downs, Inc. (CDI) disclosed its five-point plan to develop a strategic focus to “transform” Churchill Downs over the course of the next five years, with horse racing at the center of it.

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