seems like the providers actually contract directly with the racetracks. this was evident in the Sportech presentations. so this is also the case with Fixed Odds and BET has already partnered with various tracks. there would be large synergies in regards to terminals, admin, etc for the tracks to have the same parimutuel and fixed odds providers, hence the main benefit (in my opinion) of acquiring Sportech and potentially other parimutuel providers is a seemingly easy cross sell opportunity
Dec 2021 Price Target, page-183
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