Breeders’ Cup Arrives in California, Where Horse Racing Is Struggling

Published On Nov 1, 2024, 3:00 AM

California's horse racing industry, despite its historic tracks like Santa Anita and Del Mar and the upcoming Breeders' Cup World Championships, is facing significant financial challenges. The state offers dramatically lower purse money compared to Kentucky and New York, which hinders its ability to attract owners and trainers. California's purse money for last year was $165 million, averaging over $418,000 per racing day, while Kentucky and New York benefit from legalized gaming revenues that supplement their racing purses.

Read full article

Stock Forecasts

DRIView DRI chart on TradingView

Negative

The financial struggles of California's horse racing tracks might lead to reduced investment opportunities in California-based horse racing related stocks, as fewer participants could diminish the sport's profile. Furthermore, tracks may face greater competition from those in states with more lucrative purses.

Related News

Trump or Harris? Here are the 2024 stakes for airlines, banks, EVs, health care and more

Oct 13, 2024, 7:00 AM

With the U.S. election less than a month away, the country and its corporate sectors are staring down two drastically different options.

AAL
JPM
TSLA
JNJ
DIS
DRI
AAPL

Uber to provide delivery for Olive Garden in new partnership

Sep 19, 2024, 3:53 PM

Darden Restaurants plans to start delivering Olive Garden food via Uber later this year, according to a Thursday announcement from the company.

DRI
UBER

Olive Garden parent Darden, Uber stocks pop after delivery deal announcement

Sep 19, 2024, 11:07 AM

Darden and Uber stocks jumped Thursday after the announcement of a multi-year food delivery partnership.

DRI
UBER