CDI documents the latest wave of TwinSpires growth

Churchill Downs Incorporated has detailed the latest expansion of its TwinSpires mobile app, after the betting and gaming platform was last week lauded as a key factor in the group returning to profit in a strong set of quarterly financial results.

The company has detailed the introduction of its TwinSpires sports mobile app in Indiana and casino and sports app in Pennsylvania, as well as the launch of online sports betting operations in Colorado via the brand’s app and desktop product.

In the Keystone State igaming players are promised an array of traditional casino games such as blackjack and roulette, as well as a large selection of online slots and live dealer games.

TwinSpires players in Indiana, Pennsylvania and Colorado will also gain access to wagering options on professional sports including NBA, NFL, MLB, NHL and PGA, as well as collegiate sports, and events from around the world.

This comes after the Louisville, Kentucky, headquartered group announced that it will move to a single brand online strategy earlier in the year, which would be achieved via the rebrand of the company’s sportsbook and igaming platform as TwinSpires from BetAmerica.

“We are excited to offer our state-of-the-art sportsbook app and market leading promotions in Indiana, Pennsylvania and Colorado a week before our biggest event of the year, the Kentucky Derby,” said Ian Williams, president of TwinSpires

“Because we are backed by Churchill Downs, the home of the Kentucky Derby, we can leverage nearly 150 years of wagering history to offer the best sports betting experience. Now players in these states can place their bets on both sports and next Saturday’s run for the roses through TwinSpires.”

Last week, CDI reported a Q1 net revenue increase of 28.2 per cent to $324.3m (2020: $252.9m), as net loss swung from 2020’s $23.4m to income of $36.1m, and adjusted EBITDA doubled to $110.6m (2020: $55.3m).

TwinSpires saw revenue surge 44.2 per cent to $99.7m (2020: $69.1), primarily driven by $92.7m (2020: $66.6m) derived from horse racing, with the remaining $7m (2020: $2.5m) coming from sports and casino.

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