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Churchill Downs Buys Youbet.com For $126 Million

Churchill Downs Inc. (CDI), home of the Kentucky Derby, has agreed to buy online horse wagering firm Youbet.com in a cash-and- stock deal valued at $126.8 million.

The deal would give Churchill Downs over $700 million worth of the $1.4 billion online horse wagering market. Churchill Downs already owns online horse betting site TwinSpires.com.