Churchill Downs Incorporated (CDI) has decided to consolidate the sports betting brand as the competition gets more fierce. On Tuesday, the CDI announced that it is moving towards the ‘One Brand Strategy’. It has both popular Twin Spires and BetAmerica brand. However, going forward, CDI would have Twin Spires as the single brand under which it will operate.
BetAmerica currently exists in six American states. It would possibly start with the launch of an online sportsbook and iGaming in Michigan. After that, Colorado, Indiana, Michigan, New Jersey, and Pennsylvania are expected to go for the identity refresh.
Bill Mudd, CDI President, and COO said that Twin Spires has delivered successfully for 13 years. CDI has now realized that brand recognition is a major differentiator in the rapidly expanding US market and BetAmerica isn’t gaining the traction required.
The betting market is dominated by the likes of DraftKings, FanDuel, and BetMGM. The single brand strategy would help CDI to efficiently handle the marketing and would help them in the longer term.
Twin Spires has faveolus records for both betting handle and revenue. The uninterrupted racing activity during a pandemic but has constantly outperformed in the racing markets. CDI hopes to bring the racing aficionados to other products as well. BetAmerica on the other had maintained a just positive revenue in the recent report.
CDI has also started shuffling executives shortly before Christmas. Mike Anderson, the former VP of Operations is now the President of Churchill Down Racetracks. There have been other changes as well.
Inspirational Link: https://calvinayre.com/2021/01/05/business/churchill-downs-bins-betamerica-sports-betting-igaming-brand-twinspires/
