"Keeneland already has 200,000 Daily Racing Form pages online. It sounds like a lot until you add up the pages that remain. 'We think there's 11 million," Ryder says. "And it's still publishing.'"

"In the past, DRF was simply a media company and we viewed CDI’s relationship with DRF as that of a business customer and a partner. In our role as customer and partner, CDI purchases advertising from the Form, and our locations serve as distribution outlets for DRF’s daily publication. DRF has positioned itself as a media and wagering company, drastically changing its relationship with our racetracks, OTBs, and TwinSpires.com. That change in direction gives us pause."