Prairie Meadows Racetrack and Casino and the Iowa Horsemen's Benevolent and Protective Association have announced they are collaborating on the development of the state’s first legal online wagering platform.
According to a release from the two organizations, they hope to take advantage of the popularity of Advanced Deposit Wagering to expand the customer base for Iowa racing. California-based Paladin Capital Partners and principals Chuck Champion and Gary Sproule have been retained to deploy and market the ADW system. Both Champion and Sproule were involved with the formation and growth of Youbet.com.
The ADW system is scheduled to be implemented prior to the 2012 Prairie Meadows race meet and the provider of the wagering platform to be used in the venture will be determined soon.
“Our two organizations share a vested interest in providing an outstanding customer experience,” Prairie Meadows CEO Gary Palmer said in a statement. “Today, that means having a robust, vertically integrated online wagering platform to help attract new customers and generate the kind of revenue we need to sustain the quality of our racing products.”
“The partnership with Prairie Meadows has very exciting prospects,” said Iowa HBPA president Leroy Gessmann, “and we are eager to work with the track to create a delivery channel that connects with the digital media generation. Our interest is straightforward: the more successful Prairie Meadows is engaging fans, the more successful we will be as owners and trainers which, in turn, will help the Iowa breeding industry.”