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Churchill Downs, Inc. Buying Online Wagering Site

Churchill Downs, Incorporated announced Wednesday that it will buy the online wagering site Youbet.com.A statement from the companies says the transaction is valued at $126.8 million.They expect online wagering to grow in popularity, though its estimated right now that less than 14-percent of wagering on thoroughbred races is placed online.Company officials will hold news conferences Thursday to discuss the transaction.

Rick Howlett is host of WFPL's weekly talk show, "In Conversation." Email Rick at rhowlett@lpm.org.