Churchill Downs Inc. may be seeking a buyer for TwinSpires, its betting division.
Such a sale could bring $1.5 billion to the company that owns the Kentucky Derby. The company is believed to be working with an advisor on the issue, but mum’s the word for the moment, according to Barrett Sports Media.
Earlier this year, Churchill Downs announced three capital improvement projects, worth a total $211 million. These include more all-inclusive seats at the flagship track, renovations to the Homestretch Club, and construction of a hotel, gaming positions, and amenities at Derby City Gaming.
As for a TwinSpires sale, buyers could include traditional sportsbook companies, media partners like NBC, or a private equity firm.
