Churchill Downs Incorporated (CDI) has agreed to acquire the New York Racing Association’s 49% interest in United Tote, restoring full ownership of the pari-mutuel wagering technology supplier.
The transaction reverses a deal completed in April 2024, when NYRA Content Management Solutions acquired the minority stake after the parties first announced the proposed sale in August 2022. Financial terms of the reacquisition were not disclosed.
NYRA will continue using United Tote for racetrack and gaming-related pari-mutuel wagering systems under an extended services agreement running through 2035. This maintains NYRA as a customer while returning control of the supplier to CDI.
United Tote provides totalisator systems that record wagers, calculate payouts and distribute betting information across racetracks, off-track betting locations and other wagering platforms. Its systems process more than $5bn in global pari-mutuel handle annually and support events including the Kentucky Derby, Belmont Stakes and Breeders’ Cup.
The supplier also provides terminals, mobile wagering products, operational support, data services and settlement functions. These services form part of the infrastructure connecting racetracks, advance-deposit wagering operators and other businesses participating in pooled horse racing markets.
Full ownership gives CDI direct control over another component of its Wagering Services and Solutions segment, which includes the TwinSpires online horse racing wagering business and B2B technology operations.
CDI has previously integrated United Tote into distribution agreements with external operators. A multi-year arrangement with FanDuel, announced in 2022, included United Tote technology for pari-mutuel wagering offered through FanDuel and TVG platforms in the US.
The reacquisition also sits alongside CDI’s ownership of Exacta Systems, which provides technology used in historical horse racing operations. Together, the businesses give the operator exposure to wagering platforms, totalisator systems, racing content and historical racing infrastructure.
The United Tote transaction is expected to close by 5 August 2026. It follows a period in which CDI’s Wagering Services and Solutions division generated Q2 net revenue of $167m and adjusted EBITDA of $52m.
This month, Churchill Downs reported Q2 net revenue of $980m, with H1 revenue exceeding $1.6bn as net income for the six-month period rose 10.2% to $324m.
CDI initially acquired United Tote through its 2010 purchase of online horse racing wagering operator Youbet.com
