Churchill Downs Inc. CEO Bill Carstanjen on Friday discussed the Kentucky Derby and CDI’s investments. CNBC’s Dominic Chu noted Churchill Downs has spent nearly $1B on “online and mobile games.” Carstanjen said of the investment, “We’ve been heavily invested in the Internet for a while with our TwinSpires.com business. … We thought it was the next logical adjacency for our company.” Carstanjen noted the Kentucky Oaks and Derby “are really the heartbeat of this company,” but as CDI has grown, “we’ve gone hard into online wagering.” Carstanjen said of Saturday’s race, “It’s still the pulse and the essence of the company, and it’s still the gathering point and the focal point for our employees. ... It will always hold that position for all of us” (“Fast Money Halftime Report,” CNBC, 5/1).
LOUISVILLE BUSINESS FIRST runs a package of stories on CDI and its marquee event, including a look at how the firm's "moves into casinos, online wagering and mobile gaming mean the business can no longer be labeled as simply a horse-racing company." Other angles include how Carstanjen's transition from COO to CEO equates to a "change of focus," plus a stats-based collection of fun facts about Derby day (BIZJOURNALS.com, 5/1).
