Churchill Downs Incorporated (CDI) has finalised the sale of a 49% stake in its United Tote subsidiary to the New York Racing Association (NYRA).
The deal, agreed in August 2022, sees NYRA Content Management Solutions, a subsidiary of the NYRA, acquiring the stake. Financial terms of the United Tote sale were not disclosed by CDI.
United Tote primarily supplies totalisator systems, services and equipment. It also provides a range of technology services to process bets and pay-outs and pari-mutuel tote services.
The original deal said CDI would work with NYRA to provide a pari-mutuel solution through United Tote to reach customers. It was also agreed the United Tote pari-mutuel settlements business would be excluded from the sale and remain with CDI.
NYRA is a not-for-profit corporation that operates the three largest thoroughbred horse racing tracks in New York. These include Aqueduct Racetrack in South Ozone Park, Queens; Belmont Park in Elmont; and Saratoga Race Course in Sarato..