Churchill Downs is winding down its online sports betting and casino business.
The company announced the decision Thursday morning amid its Q4 earnings.
Churchill Downs CEO Bill Carstanjen said the company could not see a path to profit in a “highly competitive market.”
As a result, Carstanjen said the online business including sports betting will be wound down over the next six months.
“When the Supreme Court overturned the ban on sports betting in 2018, we had high hopes for building a profitable business in this space,” Carstanjen said. “We have profitable retail books in four of our casinos.”
