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FOX Sports Extends NYRA Media Rights Through 2030, Acquires Stake In NYRA Bets

FOX Sports, a unit of Fox Corporation (Nasdaq: FOXA, FOX), and the New York Racing Association, Inc. (NYRA) announced Thursday an expanded partnership agreement that establishes FOX Sports as the official wagering partner of NYRA Bets and the leading media provider for elite thoroughbred racing through the next decade.

The prior FOX Sports/NYRA media rights agreement provided a FOX Sports subsidiary with an option to acquire a 25% stake in NYRA Bets, LLC (NYRA Bets), a leading Advance Deposit Wagering (ADW) platform launched in 2016 and available to customers in 30 states across the country. The FOX Sports subsidiary will exercise this option by the summer of 2021, pending final regulatory approval.

The newly announced agreement provides a FOX Sports subsidiary with a future opportunity to increase its equity interest in NYRA Bets.

As an unprecedented year interrupted live sports around the world, horse racing operated safely and continuously. NYRA Bets achieved record growth in 2020, as new fans engaged with horse racing by watching an unparalleled amount of coverage across FOX Sports' family of networks. Driven by a dramatic expansion in this live television coverage, NYRA Bets generated $225 million in wagering handle in 2020, a more than 100% increase compared to 2019.

“The remarkably rapid expansion of NYRA Bets, and the digital ADW wagering marketplace, make this an ideal opportunity for FOX Sports to deepen and broaden its investment in both premier media rights and the high-growth sports wagering industry. With our investment options in NYRA Bets, FOX is now uniquely positioned as the only media company with strategic stakes in digital bet-taking businesses in horse racing, sports betting, poker and casino gaming,” said Michael Mulvihill, FOX Sports' Executive Vice President, Head of Strategy and Analytics. “We're confident that our television partnership with NYRA will fuel continued growth for NYRA Bets in the years ahead ”

Dave O'Rourke, President and CEO, NYRA, underscored the importance of its partnership with FOX Sports to the sport in New York as well as across the country.

“FOX Sports has shown an unwavering commitment to the sport of horse racing over the past five years,” said O'Rourke. “The strength of our partnership with FOX Sports, and the continued expansion of our high-quality telecasts, has proven to be hugely beneficial for the New York racing community and the sport as a whole.”

The new agreement will extend FOX Sports' television rights with NYRA through 2030 and further expand exclusivity for daily racing 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 Race Course and, outside of prior commitments, gives the network exclusive national broadcast rights at Belmont Park and Saratoga Race Course through 2030. NYRA will serve as the production arm for all horse racing events during the term of the partnership.

NYRA and FOX Sports began their collaboration during the first season of Saratoga Live during the 2016 summer meet at historic Saratoga Race Course. The critically acclaimed show, broadcast daily from the grounds of Saratoga, aired 80 hours of live coverage on FS2 and coincided with the national launch of NYRA Bets. Since then, total coverage has grown to more than 700 hours in 2020. The NYRA Bets wagering handle has also grown – from $7.2 million in 2016 to over $225 million in 2020. Wagering through national ADW outlets increased 115% during that same period. Along with Saratoga Live, FOX Sports' NYRA television portfolio includes America's Day At The Races, airing in the spring, summer, fall and select dates throughout the winter racing season.

FOX Sports became the national television home for NYRA's Belmont Park and Saratoga Race Course coverage in 2019. That same year, the brand furthered its commitment to horse racing by televising the Runhappy Travers to a national audience on the FOX broadcast network (FOX) for the first time in network history. Following a successful presentation in 2019, the Travers returned to FOX in 2020.

First held in 1864, the Travers is the most prestigious stakes race for 3-year-olds outside of the Triple Crown series and the traditional centerpiece of the annual 40-day summer meet at Saratoga Race Course. The race is named for William R. Travers, the first president of Saratoga Race Course who won the inaugural running in 1864 with a horse named Kentucky.

The new FOX Sports/NYRA agreement ensures that the Travers will air LIVE on FOX through 2030.

“NYRA is delighted to extend our relationship with FOX Sports,” said Tony Allevato, President, NYRA Bets. “We look forward to continuing to work closely with the FOX Sports team over the next decade to grow NYRA Bets while continuing to present the very best in horse racing coverage to more sports fans than ever before.”

The agreement does not include the Belmont Stakes Racing Festival and the Belmont Stakes.

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Fort Erie Race Track Adds Two Days To 2021 Racing Calendar

Fort Erie Live Racing Consortium (FELRC) announced Thursday that they have applied to the Alcohol and Gaming Commission of Ontario (AGCO) to add two additional race days to Fort Erie's racing calendar. The additional days will be added at the end of the season on Oct. 25 and 26, increasing the total number of race days to 42, up from the approved 40 days.

Purses for the two added race dates will be in addition to those initially planned. FELRC's application to the AGCO has the support of Ontario Racing, Ontario Racing Management, the Horsemen's Benevolent and Protective Association, the Jockeys' Benefit Association of Canada, Racing Forensics, and the Ontario Lottery & Gaming Corporation.

“Two more race days will greatly help Fort Erie's resident horse people and will also help to attract more trainers and horses to Fort Erie's backstretch,” said Claude Pilato, chair of FELRC's Board of Directors.

As spring approaches, Fort Erie Race Track is preparing for the upcoming racing season. Horse people will enjoy several improvements made since last fall, including a full-scale drainage system and new sprinkler system on the turf track. These systems will ensure better control over the turf surface, resulting in safer racing conditions. Improvements have also been made in the backstretch, including new eves troughs on many of the barns, and more fill in the stalls.

At this time, it is unknown if fans will be able to attend live racing as the season begins due to COVID-19, but Fort Erie has been preparing to welcome back fans this season when it is safe to do so. When COVID-19 direction allows for the return of fans, they will see a number of customer-oriented improvements to the venue, including a renovated Prince of Wales dining room, new air conditioning system and roof on the clubhouse, and new paddock fencing. Staff remain busy undertaking many more improvements to the facility, which will be completed throughout the summer. COVID-19 safety tools have also been put in place such as plexiglass dividers and hand sanitation stations to help protect staff and fans.

Fort Erie's season is scheduled to run primarily Mondays and Tuesdays beginning at 1 p.m. from June 1 through to October 26. Twilight racing will run Tuesdays throughout the summer, with a 4 p.m. first race post time.

For more information about the upcoming season, and updates regarding fan attendance on race days, visit www.forterieracing.com.

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Report: MGG Asserts Zayat ‘Is A Perpetual Liar,’ ‘Has Done Everything In His Power To Frustrate The Process’

The lengthy legal battle between New York firm MGG Investment Group and Triple Crown-winning owner Ahmed Zayat continues to drag on, according to the Thoroughbred Daily News.

On March 16, Zayat requested that a federal judge not grant his bankruptcy trustee extra time to look at his finances. This week, MGG told the court that the extra time must be allowed because Zayat, despite his “unsupported assertions of cooperation, he has done everything in his power to frustrate the process.”

Zayat declared bankruptcy in the fall of 2020, seeking Chapter 7 protection. MGG is asking a federal judge to order that Zayat can't get his debts to the investment group forgiven because the company says the $24 million in loans Zayat still owes were acquired fraudulently.

MGG's March 23 filing asserts that the Thoroughbred owner and breeder's latest action “does nothing more than establish that Ahmed Zayat is a perpetual liar determined to hinder and obstruct the Trustee, the Court and creditors at every turn.”

Read more at the Thoroughbred Daily News.

For more about Zayat and the legal issues described above, click here.

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Illinois Racing Board Member Criticizes Churchill For ‘Shortsighted,’ ‘Self-Defeating’ Decision To Sell Arlington

One member of the Illinois Racing Board, author and journalist Alan Henry, had a lot to say about Churchill Downs Inc.'s decision to put Arlington Park up for sale at the monthly board meeting. According to the Chicago Daily-Herald, Henry called CDI's refusal to sell the property to another racing entity “a shortsighted and self-defeating posture” that would irreparably tarnish the company's brand.

“While CDI's stock is currently riding high, the corporate graveyard is full of companies whose leaders lost sight of their brand and in doing so lost the loyalty of their customers,” Henry said. “In the long run, the company that trumpets its bond to horse racing and wants to keep the brand in good standing across all its platforms has to respect current horseplayers and keep attracting new ones. To do that, you've got to honor the horse and the horsemen and mean it, and that starts by keeping tracks open, not closing them down.”

Henry referenced CDI's shut downs of California's Hollywood Park and Florida's Calder Race Course, adding that CDI now sees Arlington as “disposable” in an effort to protect the nearby CDI-owned Rivers Casino.

CDI announced the sale of Arlington on Feb. 23, 2021, indicating that it would host live racing at the Illinois track through the 2021 season, which is scheduled to end on Sept. 25.

Read more at the Chicago Daily-Herald.

The post Illinois Racing Board Member Criticizes Churchill For ‘Shortsighted,’ ‘Self-Defeating’ Decision To Sell Arlington appeared first on Horse Racing News | Paulick Report.

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