Keeneland, Red Mile partner with Caesars on sports betting
LEXINGTON, Ky. – Keeneland and The Red Mile have reached an agreement to co-partner with Caesars Entertainment on sports wagering, a practice that was legalized earlier this year by the state legislature, the companies announced Tuesday.
The agreement is the first announced by any racetrack in the state since the legislature authorized the practice by restricting the activity to licensed racetracks and their mobile partners. Sports wagering is expected to become available in Kentucky by the end of the year, after the Kentucky Horse Racing Commission drafts and approves rules to govern the practice.
Under the agreement, Caesars will be granted “market access” for mobile sports-betting customers on behalf of Keeneland and The Red Mile, which are already partners on a casino and full-card simulcasting facility at The Red Mile, a harness track near downtown Lexington. Caesars also will operate a bricks-and-mortar sports-betting facility at The Red Mile.
All racetracks in Kentucky are expected to apply for sports-betting licenses and eventually partner with companies that provide mobile sports-betting platforms. Most also are expected to open retail sports-betting operations at their tracks.
However, Keeneland has not yet decided whether the track will open a sports book on its property, according to Amy Gregory, spokeswoman for Keeneland. Nearly a decade ago, when Keeneland received a license to operate historical horse racing machines, it passed on building a facility on its property for the devices, instead reaching a partnership with The Red Mile.
Last year, Caesars launched a “racebook” app on its mobile sports-wagering platform in partnership with the New York Racing Association. The company also owns Horseshoe Indianapolis, a racetrack and casino, in Shelbyville, Ind., and is the sponsor of the National Horseplayers Championships, which is held at a company hotel in Las Vegas.
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