Wednesday, November 11, 2009

Youbet.com Acquired By Churchill Downs

Burbank-based Youbet.com, an online site focused on horse racing wagering and content, has been acquired by Churchill Downs Incorporated in a deal worth $126.8M. Churchill Downs operates thoroughbred racing events such as the Kentucky Derby. Churchill Downs said late Wednesday it would pay 0.0598 shares of its common stock, plus $0.97 in cash for each share of Youbet common stock.