reports that Churchill Downs is looking to unload

Churchill Downs upgraded at J.P. Morgan, which said fears of Kentucky Derby cancelling are reports:

Churchill Downs Inc. is exploring options including a sale of TwinSpires Racing, the official betting partner of the Kentucky Derby among other races, according to people with knowledge of the matter. The shares rose on the news.

The Louisville, Kentucky-based company is working with an adviser to solicit potential interest in the wagering platform, said the people, who requested anonymity discussing information that isn’t yet public. TwinSpires could fetch $1.5 billion in any transaction, one of the people said, cautioning that no final decision has been made and Churchill Downs could continue to own the platform…

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