Business and Commerce

The image of a Kentucky Derby winner -- like Victor Espinoza aboard American Pharoah in 2015 - was absent from May due to the coronavirus. That impacted horse racing betting handles for the month. (Image: Mark Cornelison/Lexington Herald via Getty)

May’s Racing Economic Indicators Continue COVID-19 Plunge

- 3 min read

Even with tracks emerging from coronavirus shutdowns throughout May, Thoroughbred racing handles for the month plummeted compared to their 2019 totals, according to Equibase’s monthly report on horse racing’s economic indicators. The biggest individual culprit for May’s decline was easy to pinpoint: no Kentucky Derby and no Preakness Stakes. The […]

Roger Federer's lucrative endorsement deals pushed him ito the top of Forbes' list of highest-paid athletes. (Image: Getty)

Roger Federer Forbes Highest-Paid Athlete at $106 Million

- 3 min read

Tennis pro Roger Federer takes the top spot in the latest Forbes ranking of sports’ highest earners. Federer, who was fifth on last year’s list, overtook some of soccer’s biggest stars who sustained salary cuts amid the global pandemic. This spring, sporting events and major league seasons abruptly came to […]

Las Vegas casinos are reopening June 4, and D and Golden Gate co-owner Derek Stevens held a promotion giving away 2,000 free one-way flights to the city. (Image: Las Vegas Review-Journal)

Las Vegas Casinos Offering Free Flights, Parking Upon Reopening

- 3 min read

Las Vegas casinos will reopen to gamblers on Thursday, June 4, and Derek Stevens, who co-owns three downtown properties, is helping some lucky tourists with free one-way flights to the city. That’s one of a few ways resorts are enticing patrons back through their doors. Casinos have been closed since […]

Jordan Spieth was set to begin 2020 at the Sony Open, but an illness forced him to withdraw. (Image: Getty)

Under Armour Delaying Payments to Athletes as Losses Mount

- 3 min read

The athletic apparel company Under Armour said it’s negotiating with athletes to delay their sponsorship payments. While Under Armour didn’t name any of the athletes it is working with on payment deferrals, the pros it has under contract include Stephen Curry, Jordan Spieth, Tom Brady, and Bryce Harper. Under Armour’s […]

Until fans are allowed back inside, Minnesota horse racing fans can't watch Canterbury Park races. They can't bet on them via remote apps, either. (Image: Explore Minnesota)

Minnesota Race Fans Can’t Attend, Can’t Bet on State Races

- 3 min read

Minnesota horse racing fans find themselves in the strange place of not being able to bet on races at state tracks after a bill provision allowing advance deposit wagering (ADW) for in-state races failed in the state legislature. The amendment allowing in-state ADW came out of a bill just as […]

Charlatan has a fruitful future in the breeding shed after he finishes beating his fellow thoroughbreds like he did here in the Arkansas Derby. (Image: Coady Photography)

After Three Races, Charlatan’s Breeding Rights Sold to Kentucky Farm

- 3 min read

He has all of three races and one stakes victory under his tack. And now, Charlatan has a new home once his racing career is finished. Hill ‘n’ Dale Farm in Lexington, KY. announced it bought Charlatan’s breeding rights for an undisclosed amount. The announcement came less than a week […]

American Pharoah is just beginning to make his mark on the racing world as a stallion. His prolific career won't be affected by The Jockey Club's new limits on stallion breeding. (Image: Coolmore Farm)

The Jockey Club Introduces New Limit on Stallion Breeding

- 3 min read

In a significant effort to reduce overbreeding among thoroughbred horses, The Jockey Club implemented a new rule limiting stallions to covering (or mating with) 140 broodmares per year. The new rule, which The Jockey Club said is “to preserve the health of the Thoroughbred breed for the long term…” goes […]

Matthew McConaughey proudly wears his Austin FC colors, surrounded by Shawne "Lights Out" Merriman, LA Rams QB Jared Goff and LAFC part-owner Will Farell (Image: LAFC)

Private Equity Fund to Buy Minority Stakes in Professional Sports

- 3 min read

Arctos Sports Partners, a new private equity firm, is looking to buy minority stakes in US major league sports teams and European soccer clubs. Private equity firms often buy troubled assets and — in the coronavirus era — sports franchises now fit that model. But high franchise valuations may be […]

Nevada sports betting handle was down 76 percent in March, and April could bring an even sharper drop. (Image: Jeff Scheid/Nevada Independent)

Nevada Sports Betting Handle Plummets 76 Percent in March During COVID-19 Pandemic

- 2 min read

The Nevada Gaming Control Board (NGCB) reported Wednesday that the state’s sportsbooks took in a handle of just $141.2 million in March, down about 76% from March 2019. The Nevada sports betting industry took a dramatic hit due to the coronavirus pandemic, which began impacting leagues, tournaments, and other competitions […]

The annual Fasig-Tipton Saratoga Selected Yearling Sale often brings in more than $40 million. Due to the coronavirus. it was canceled and merged with two other sales this year. (Image: Donna Abbott-Vlahos)

Fasig-Tipton Combines Three Major Horse Auctions Into One Showcase

- 3 min read

Recognizing a sagging market for yearlings amid the coronavirus pandemic, renowned thoroughbred auction house Fasig-Tipton announced plans to consolidate three yearling sales into one. The company merged the Saratoga and New York Bred sales scheduled for July into the 2020 Selected Yearlings Showcase, scheduled for Sept. 9-10 at its Lexington, […]

Caesars finally found a buyer for the Rio, in all her faded glory. (Image: Getty)

Costly Two-Month Delay Might Not Derail Eldorado Caesars Merger

- 3 min read

The merger between Eldorado Resorts and Caesars Entertainment could be delayed until June, putting more pressure on the ambitious union. Adding insult to injury, Eldorado must pay Caesars roughly $2.3 million a day until the deal closes. Even as their casinos were forced shut during the coronavirus outbreak, Eldorado and […]

Nearly 5 million people watched the Virtual Grand National on Saturday. Bookmakers took action on the "race," donating profits to charity. (Image: YouTube/GCRider)

Millions Tune in to Watch, Bet on Virtual Grand National (VIDEO)

- 3 min read

The good news was, no horses were injured during the Virtual Grand National, which was viewed by a peak audience of nearly 5 million viewers throughout the United Kingdom. And the bookmakers earned a respectable profit, which they donated to charity. The bad news? No real horses ran in Saturday’s […]

William Byron is favored in this week's eNascar iRacing

Nevada Allows Betting on Virtual NASCAR iRacing

- 2 min read

The Nevada Gaming Control Board announced on Friday that sportsbooks can accept bets on the 2020 eNASCAR iRacing Pro Invitational Series starting this weekend. Now that Nevada has paved the way for betting on NASCAR’s virtual races, other states and eSports may follow. The outbreak of the coronavirus has left […]

Washington D.C. would have launched its mobile sports betting product this week, but the coronavirus sports shutdown has delayed those plans. (Image: Win McNamee/Getty)

Washington D.C. Delays Launch of Mobile Sports Betting

- 2 min read

After a series of controversies and delays, Washington, D.C.’s sports betting platform is finally ready to launch. But without any American sports to wager on, officials now plan to wait on taking their first bets in the nation’s capital. The D.C. Office of Lottery and Gaming announced a March 31 […]

Jeff and Fred Wilpon have already burned potential buyers twice. (Image: Frank Franklin II/AP)

Wilpons Push Mets Sale Amid Flagging Revenues and Pandemic

- 2 min read

According to reports, the New York Mets are still up for sale. While this is arguably the worst time to sell a major league team, the Wilpons have never been known for their timing. Like most major league sports, MLB’s season is on hiatus due to a global pandemic. Would-be […]

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