Churchill Downs Incorporated (CDI) has completed the sale of 49% of United Tote Company to a subsidiary of the New York Racing Association (NYRA). United Tote, a major provider of pari-mutuel wagering services in the US, was previously a wholly-owned CDI subsidiary. With this transaction, CDI still retains a majority stake in United Tote.
The sale agreement, initially announced in August 2022, aimed to facilitate the integration of horse racing into sports wagering platforms. NYRA Content Management Solutions, LLC, a subsidiary of NYRA, finalized the acquisition of the minority interest in United Tote as part of this strategic move.
NYRA is a not-for-profit corporation that operates the three largest thoroughbred horse racing tracks in the State of New York – Aqueduct Racetrack in South Ozone Park, Queens; Belmont Park in Elmont; and Saratoga Race Course in Saratoga Springs.
United Tote, which has been serving the racing industry since 1959, provides totalizator equipment and services for parimutuel wagering at racetracks.
As of September 6, 2023, NYRA resumed its partnership with United Tote as its tote provider. Although NYRA had previously utilized United Tote’s services, it transitioned to AmTote during a ten-year period spanning from 2013 to 2023. However, in 2023, NYRA and United Tote entered into a new agreement with a 10-year term, including an option for a two-year renewal.
Original article: https://www.yogonet.com/international/noticias/2024/04/09/71651-churchill-downs-finalizes-sale-of-49-stake-in-united-tote-to-nyra
