Churchill Downs Inc has signed a deal with SBTech, a sports betting platform. The deal will allow the gaming company to offer bets on events in Pennsylvania, New Jersey, and Mississippi. SBTech will provide a consumer website and mobile apps that manage online gaming and sports wagering.

Churchill Downs signed a separate deal with the Golden Nugget Atlantic City Resort which will start accepting legal wagers for online gaming and sports betting in New Jersey in the first quarter of 2019. Shares of Churchill Downs rose as much as 2.4 percent to hit a fresh record at $304.84 in morning trading. The U.S. sports betting market could rack up $1.8 billion at the low end and move as high as $9 billion!