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Another U.S. Company Joins the International Industry

What should a company do when an extremely lucrative industry has been banned in its home country—offer the services over seas. It looks like two more businesses will be joining Yahoo!, Playboy, and other companies offering online casino gambling services to Europe and other counties. Churchill Downs and the Kentucky Derby are two well-respected names in the world of thoroughbred horseracing, so now they will be taking that stellar reputation into the global market by offering online casinos to non-U.S. citizens.

The U.S. legislation did not go so far as to ban U.S. based companies from offering online casino gambling, they merely banned all forms of internet gambling with U.S. citizens. Importantly, the free trade agreements currently under debate with the World Trade Organisation have shown no stipulations any other country has against the U.S. operating online casinos though they do not participate in the global online casino community.

Also, because of the U.S. exemption for horserace betting, Churchill Downs and the Kentucky Derby plan to have a low-key online presence in the U.S. since they can offer online betting to U.S. citizens—just not online casino gambling.

Bob Evans, the CEO of Churchill Downs feels that the company’s expansion into the international online casino gaming industry makes sense. He says, "Given the fact that the Kentucky Derby [and] Churchill Downs...are world renowned brands, why wouldn't we use those brands to enter into businesses that are outside our traditional core of thoroughbred racing."