March 26, 2021 Technology, Online, Partnerships

Fox Sports acquires 25% stake in NYRA Bets

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Fox Sports has acquired a 25% stake in NYRA Bets, the horse racing gambling platform for the New York Racing Association.

NYRA Bets saw $225m of handle in 2020, a more than 100% year-on-year increase from 2019, according to the association. The advance deposit wagering platform is live in 30 states.

“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.”

Fox Sports will also hold television rights for NYRA races through 2030. The sports media company expects to air 700 hours of coverage each year from Belmont Park and Saratoga Race Course.

The deal does not include the Belmont Stakes.

Fox Sports and NYRA began their partnership in 2016 with Saratoga Live. The showed aired 80 hours of live coverage on FS2 in is inaugural year and has expanded to 700 hours in 2020.

Dave O'Rourke, President and CEO, NYRA, said, “FOX Sports has shown an unwavering commitment to the sport of horse racing over the past five years. 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.”

Fox Sports operates under the Fox Corporation umbrella. Its portfolio includes a licensing and commercial agreement with The Stars Group that led to the Fox Bet sports betting app and the free-to-play Fox Bet Super 6.

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