Betting Giant Betfair Makes Five-Year Deal with California Horse Racing Track

04/19/2012
By Tommie ClarkGoogle

 

In a historic move in the gambling industry, Betfair, the world’s largest betting community and one of the world’s best online casino operators, has closed a five year deal with the Californian horse racing track, Hollywood Park, for naming rights to the track. The track will now be known as Betfair Hollywood Park.

 

Based on Betfair’s recent success as a sponsor for the Betfair Lounge at Ascot Racecourse in the United Kingdom, Hollywood Park executives felt confident that the move would be a good one. During negotiations, they received confirmation on 2013 racing dates, infrastructure investments and improvements at the Hollywood Park track and ultimately decided to create the “Betfair Club.”

 

Commenting on the deal, Jack Liebau, President of Hollywood Park Racing Association said, “We realize that US racing, and California racing in particular, simply cannot continue on as it has. We need to look at the way we do everything in presenting our product to the public and not be afraid to embrace change, particularly if we are going to generate a younger fan base.”

 

He continued, “We believe that partnering with Betfair to modernize the product will benefit California racing. Exchange wagering is another possibly transformative technological change for horse racing. However, it will only be introduced after a thorough consultation with our Horsemen and Horsewomen and, of course, its implementation is ultimately subject to the approval of the Thoroughbred Owners of California.”

 

Stephen Burn, Chief Executive Officer for Betfair US and Television Games Network said, “We are deeply committed to changing US horse racing for the better and are delighted to find a partner in Hollywood Park Racing Association willing to take the bold step of trying to change every facet of the racing experience to appeal to a broader and younger audience.”

 

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