Stevenson & Associates has reached an agreement with Decker LLC to assist with the development of SimulTech, a company formed to open and operate an offshore wagering hub that would process foreign wagers on United States racing.
Decker LLC, based in Louisville, Ky., is owned by Robert Decker, the former chief financial officer for Churchill Downs Inc. who now serves as a consultant to racing and non-racing entities. He will provide advisory services including development of business and strategic plans and creation of a capital structure.
SimulTech is being developed to provide a centralized offshore wagering hub that will accept wagers from bettors outside the U.S. in an attempt to increase handle and generate revenues for racetracks and purses, Stevenson & Associates said in a prepared statement.
The SimulTech international hub is expected to commence operations in late spring, according to Stevenson & Associates. The company at first will focus on gaining market share in the Caribbean and Latin America through the redistribution of U.S. signals.
The offshore hub plan was discussed during the National Horsemen's Benevolent and Protective Associtation winter convention in early February. Details as to the partners in SimulTech haven't been released.