Churchill Downs Incorporated is spending nearly $127 million to buy one of the largest online betting web sites in the country. CDI is buying all outstanding shares of YouBet.com. The deal gives CDI a bigger share of the online wagering pie. Churchill President and Chief Executive Officer Robert L. Evans said, “We believe this combination should enable us to accelerate the development of new technology-enabled features and services that horse racing customers who wager via the ADW channel want, and that can attract new customers to racing." A teleconference to announce the merger is slated for 9:00am Thursday.
