Churchill Downs Inc. will not sell TwinSpires wagering platform
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In a company-wide meeting on Friday morning, TwinSpires president Ben Murr told employees that Churchill Downs Inc. will not be selling the online gaming company.
"There is no sale," Murr said after the market opened.
The announcement came some two weeks after Bloomberg reported CDI was exploring the sale of TwinSpires, which it estimated could fetch up to $1.5 billion. The report noted CDI had enlisted an adviser to gauge buyer interest in the wagering platform.
Churchill Downs, led by chief executive officer Bill Carstanjen, has a market value of around $8.8 billion.
Shares of Churchill Downs Inc. were up 3.8 percent as of 2 p.m. EST to $221.68.
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