Seven months after the New York Racing Association (NYRA) expanded its partnership agreement with Fox Sports, the deal appears to be a mutual success for both entities.
Announced in March, the deal established Fox Sports as the official wagering partner of NYRA Bets and the leading media provider for top thoroughbred racing for New York sports betting through the next 10 years.
The previous Fox Sports/NYRA media rights agreement provided a Fox Sports subsidiary with an option to acquire a 25% stake in NYRA Bets, an Advance Deposit Wagering (ADW) platform launched in 2016 and available to customers in 30 states across the country. That option was exercised during the summer.
The new agreement will provide a Fox Sports subsidiary with a future opportunity to increase its equity interest in NYRA Bets. The Fox Bet sports betting platform is owned and operated by Fox Sports, the only media company with strategic stakes in digital bet-taking businesses in horse racing, sports betting, poker and casino gaming.
TV Rights Extended to 2030
The new agreement also extends the television rights for Fox Sports with NYRA through 2030 for daily racing in New York at Belmont Park and Saratoga Race Course.
Under the new deal, Fox Sports expects to air at least 700 hours of coverage each year from Belmont Park and Saratoga and, outside of prior commitments, gives the network exclusive national broadcast rights at Belmont Park and Saratoga Race Course through 2030.
“The partnership between NYRA and Fox Sports has grown significantly since its inception in 2016, and is now one of the central means of horse racing content distribution nationally,” said Patrick McKenna, the senior director of communications for the NYRA. “Fox Sports’ commitment to the sport has translated into consistent, lasting increases in viewership and wagering handle This is a success story, and one that has proven beneficial to the health of the sport not just in New York but across the country.”
Saratoga Meet Historic
The 40-day summer meet at Saratoga Race Course generated all-sources wagering handle of more than $800 million for the first time in its history. The meet ended with an all-sources handle of $815,508,063, a 15.6% increase over the 2019 record of $705,343,949. It marked the sixth consecutive season of more than 1 million in paid attendance (26,162 daily average).
The average daily handle exceeded $20 million for the first time, at $20,387,702.
Belmont Park’s fall meet ended on Nov. 7. There currently is racing at Aqueduct Racetrack through Dec. 5.