CDI Rebrands Sports, Gaming Platforms Into TwinSpires
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Photo: Courtesy of Churchill Downs Incorporated
Bill Mudd, president and chief operating officer of CDI
Churchill Downs Incorporated announced Jan. 5 it will move to a single brand strategy for its online wagering segment by rebranding the company's sportsbook and iGaming platform as TwinSpires.
The brand transition from BetAmerica to TwinSpires will begin with CDI's online sportsbook and iGaming launch in Michigan later this month, pending final regulatory approval. BetAmerica retail and online sportsbooks operating in Colorado, Indiana, Michigan, Mississippi, New Jersey, and Pennsylvania will also transition to the TwinSpires brand during the first half of this year.
The TwinSpires brand has been utilized by CDI's online pari-mutuel wagering business since 2007. The advance deposit wagering offered at Twinspires.com enjoyed record-third quarter revenue of $116 million, up 77% from last year, during which time a COVID-19 postponed Kentucky Derby Presented by Woodford Reserve (G1) was staged in 2020.
CDI's online wagering platforms more than doubled their adjusted earnings for the third quarter, when compared with the same three months of 2019, to $31.9 million.
"We remain focused on building a profitable sports betting and iGaming business that provides our customers with an integrated experience alongside our horse racing wagering platform," Bill Mudd, president and chief operating officer of CDI said in a release. "The transition to TwinSpires not only generates marketing efficiencies, but also allows us to deliver a more complete overall experience to our growing online wagering customer base."