bet365 has signalled its impending entry into the Keystone State after the gambling group struck an agreement with Churchill Downs to extend its US digital footprint into Pennsylvania.
In a move that builds on a recent launch in Ohio, this agreement sees a wholly-owned US subsidiary of bet365 team-up with CDI for online sports betting and igaming market access, subject to necessary regulatory approvals.
“We are pleased to partner with a global leader in the online gaming industry,” said Bill Carstanjen, CEO of CDI.
“Our relationship with bet365 enables us to maximise the value of our company’s sports betting and igaming market access in Pennsylvania.”
The Kentucky-based group noted that this agreement remains consistent with a previously disclosed strategy of exiting these aforementioned sectors, monetising its market exit rights for each and focusing efforts towards the TwinSpires online horseracing wagering business.
In noting a decision to leave the online casino and sports betting marketplaces, CDI said that it did not see a path that the business model would deliver predictable and acceptable margins “for at least several years”.
Regarding this partnership, a bet365 spokesperson stated: “Off the heels of our launch in Ohio, we are thrilled to announce our partnership with Churchill Downs Incorporated.
“Once live, the world’s favourite online sports betting brand will be available to sports fans in Pennsylvania, offering fantastic site features, including bet boosts, same game parlay, cash out and edit bet, on top of our market-leading sign-up offer.”