The New York Racing Association

What The New York Racing Association does

The New York Racing Association, Inc. (NYRA) is a New York State-chartered nonprofit founded in 1955 to operate thoroughbred horse racing at the state's three premier tracks — Aqueduct Racetrack (Queens), Belmont Park (Long Island), and Saratoga Race Course (Saratoga Springs) — under a franchise that runs through 2033. NYRA delivers its product across physical venues, the NYRA Bets online wagering platform, simulcasting to off-track betting facilities, and broadcast partnerships with Fox, FS1, and FS2 (including its in-house Saratoga Live production). The organization operates core assets such as the 1863 Club hospitality venue, the Belmont Stakes (a Triple Crown leg), and the Longshots simulcasting facility, while supporting a New York thoroughbred industry that contributes more than $2 billion annually and 17,400 jobs to the state economy.

NYRA's business model rests on multiple revenue streams: pari-mutuel wagering handle at its three tracks (Saratoga exceeded $705M in all-sources handle in 2019), a share of casino tax revenue generated by the Resorts World NYC casino at Aqueduct via its 2011 partnership with Genting New York LLC, ticket and hospitality sales, corporate sponsorships, and simulcasting fees. A state-authorized $455M loan is funding the reconstruction of Belmont Park (new 300,000 sq ft grandstand, Fall 2026 reopening, Breeders' Cup 2027), while Aqueduct's live racing is ceasing after 130+ years, with over 100 acres returning to the state for redevelopment. NYRA serves three primary customer segments: horse racing enthusiasts and bettors, families and general visitors attending for entertainment, and horse owners/trainers competing for purses.

NYRA is undertaking a material strategic repositioning: consolidating racing at Belmont Park and Saratoga, modernizing its flagship venue with $455M of state-backed capital, expanding internationally via a Chester Racecourse partnership, and stabilizing its funding base through a 2025 legislative resolution of $150M in annual horse racing subsidies. Its GTM motion is event-driven — anchored on premier racing events such as the Belmont Stakes and Travers Stakes — supplemented by digital wagering growth (NYRA Bets active users up 43% in 2019) and broadcast reach. The competitive moat is anchored by the state franchise and the irreplicable heritage of its racetracks and stakes races, with regulatory and intangible-asset advantages dominating over conventional economic moats.

Name

The New York Racing Association

Legal name

The New York Racing Association, Inc.

Website

https://nyrainc.com

Company type

Private

Founded year

1955

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

New York Racing Association is a nonprofit founded in 1955 that operates thoroughbred horse racing at Aqueduct, Belmont Park, and Saratoga Race Course under a state franchise through 2033, generating revenue from pari-mutuel wagering, casino revenue sharing, admissions, sponsorships, and simulcasting.

Ownership category

akta.pro rank

Product category

Thoroughbred Horse Racing Venue Operations

NAICS

Racetracks (711212)

SIC

Services-Racing, Including Track Operation (7948)

akta.pro primary industry

Racetrack & Race Meeting Operations (MPAEADAA)

akta.pro secondary industries

Pari-Mutuel Wagering Operators (Totalisators/Tote) (MPAEADAB), Online Horse Racing Betting (Advance Deposit Wagering/ADW) (MPAEADAD), Racecourse Hospitality, Sponsorship & On-Track Experiences (MPAEADAM), Racing Technology & Timing/Tracking Infrastructure (MPAEADAN)

Keywords

• Thoroughbred horse racing
• Pari-mutuel wagering
• Racing venue operations
• Horse racing simulcasting
• Online horse betting

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Pari-Mutuel Wagering: NYRA generates revenue from pari-mutuel betting handle at its three racetracks. In 2019, Saratoga Race Course generated over $700 million in all-sources handle, with NYRA Bets account holders wagering $85 million through the online platform.
2. Casino Revenue Sharing: Following 2011 opening of Resorts World New York City Casino at Aqueduct, NYRA receives casino tax revenue as part of agreement that funds capital improvements across all three tracks.
3. Ticket Sales & Admissions: Revenue from general admission, reserved seating, hospitality venues, and season passes at Aqueduct, Belmont Park, and Saratoga Race Course.
4. Sponsorships: Corporate sponsorship deals for racing events, hospitality venues, and broadcast rights including NYRA's 1863 Club at Saratoga and various race title sponsorships.
5. Simulcasting: Remote broadcast of NYRA races to off-track betting facilities and simulcasting partners, continuing at Aqueduct through September 7, 2026 following track closure.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

The New York Racing Association operates three franchised thoroughbred racetracks in New York State (Aqueduct Racetrack, Belmont Park, and Saratoga Race Course) under a state franchise running through 2033. It runs pari-mutuel wagering both on-track and through the NYRA Bets online platform, distributes its races to off-track betting facilities via simulcasting, hosts premier graded stakes including the Belmont Stakes and Travers Stakes, and operates hospitality venues (e.g., the 1863 Club) and broadcast production (Saratoga Live on Fox/FS1/FS2).

Product overview

NYRA operates a platform of three premier thoroughbred racing venues—Aqueduct Racetrack (Queens), Belmont Park (Long Island), and Saratoga Race Course (upstate)—offering live racing, pari-mutuel wagering via NYRA Bets online platform, simulcasting services, and hospitality experiences including the 1863 Club at Saratoga. The organization also manages the Belmont Stakes race event and produces television broadcasts. Aqueduct has ceased live racing operations (June 2026) after 130+ years while Belmont Park undergoes $455M reconstruction for fall 2026 reopening. The company generates economic impact exceeding $2 billion annually to New York State.

Differentiator

Problem solved

Functional benefit

Products and services

• NYRA Racetracks (Aqueduct, Belmont Park, Saratoga Race Course) Three premier thoroughbred racing venues operated by NYRA under a New York State franchise running through 2033: Aqueduct Racetrack in Queens (live racing ended 2026; simulcasting continues through September 7, 2026), Belmont Park on Long Island (undergoing a $455 million reconstruction with a new 300,000-square-foot grandstand reopening fall 2026 and slated to host the 2027 Breeders' Cup), and Saratoga Race Course in upstate New York (premier summer venue generating $371 million annual economic activity in the Capital Region). Open to the public for live racing, wagering, and hospitality.
• NYRA Bets Online Wagering Platform Online horse wagering platform offered to individual bettors, providing live odds, live video streaming, race replays, expert picks, and digital deposits/wagering. In 2019, NYRA Bets account holders wagered $85 million in total handle with a 43% increase in active users. New account holders are offered a $200 deposit match promotion.
• Belmont Stakes The third jewel of the Triple Crown, hosted by NYRA. During 2024-2026, the Belmont Stakes is held at Saratoga Race Course while Belmont Park is being reconstructed; the 2026 running is broadcast across Fox, FS1, and FS2.
• 1863 Club (Saratoga Hospitality Venue) A 36,000-square-foot, three-story climate-controlled hospitality venue at Saratoga Race Course, offering premium dining and reserved seating during the summer meet. Built by NYRA as part of its Saratoga capital program, it underwrote record wagering handle at Saratoga in 2019.
• NYRA TV (Saratoga Live Broadcast) NYRA's in-house broadcast production delivering extensive live race coverage—including Saratoga Live, Travers Stakes, and Belmont Stakes telecasts—distributed through Fox Sports networks (Fox, FS1, FS2).

Quantifiable outcome

• $2 billion+ annual economic contribution to New York State economy
• +3 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Chester RacecoursecoreStrategic or Co-development Partner · 19 March 2026New transatlantic partnership creating an international racing pathway from the Boodles May Festival in Chester to prestigious graded races in America. The winner of the G3 Ladbrokes Ormonde Stakes receives automatic entry and travel incentives to the $250,000 GII Belmont Gold Cup, while the winner of the G2 Huxley Stakes secures guaranteed entry into the $1 million GI Resorts World Casino Manhattan Stakes. Partnership designed to strengthen international racing connections and provide global opportunities for owners and trainers.
• Resorts World New York City (Genting New York LLC)coreStrategic or Co-development Partner · 1 January 2011Casino opened at Aqueduct Racetrack in 2011. As part of the agreement, NYRA created a capital improvement budget funded by casino revenue to upgrade physical infrastructure at all three tracks. NYRA continues simulcasting operations at Aqueduct through September 7, 2026 as Resorts World expands with a Las Vegas-style resort license.
• The Stronach GroupminorStrategic or Co-development PartnerJoint ownership of Elite Turf Club, a high-volume computer-assisted wagering (CAW) group named as defendant in federal class-action lawsuit alleging manipulation of parimutuel betting pools through algorithmic betting and AI. NYRA's involvement is through this co-ownership in CAW operations.

Scale indicators8 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• Churchill Downs Incorporated: Churchill Downs Incorporated operates the Kentucky Derby and a national portfolio of racetracks, HRM, and wagering platforms including TwinSpires. It is the most direct large-scale comparison to NYRA as a thoroughbred racing operator and ADW platform provider, though CDI is publicly traded and operates across multiple states.
• PENN Entertainment: PENN Entertainment operates regional casinos and racetracks across the U.S. through its gaming portfolio, providing a broader incumbent comparison for NYRA's combined racing and gaming-adjacent revenue model.

Direct peers

• The Stronach Group (1/ST Racing): The Stronach Group operates premier thoroughbred tracks including Santa Anita Park, Gulfstream Park, and Pimlico Race Course (home of the Preakness Stakes), and is a direct competitor in North American thoroughbred racing with co-ownership of the Elite Turf Club CAW platform alongside NYRA.
• Keeneland Association: Keeneland is a renowned thoroughbred auction house and racecourse in Lexington, Kentucky, operating seasonal race meets and world-leading bloodstock sales that complement NYRA's racing and simulcasting operations in the U.S. thoroughbred ecosystem.
• Del Mar Thoroughbred Club: Del Mar operates a prestigious summer race meet in California and is a fellow member of the California Authority of Racing Fairs ecosystem, comparable to NYRA in operating a single marquee thoroughbred venue with high-end hospitality and simulcasting.
• Maryland Jockey Club: Maryland Jockey Club operates Pimlico Race Course (home of the Preakness Stakes, the second Triple Crown race) and is taking over Preakness operations from 1/ST Racing. It is a direct competitor with NYRA in hosting Triple Crown events and coordinating the U.S. racing calendar.
• TwinSpires (Churchill Downs): TwinSpires is the leading advance deposit wagering (ADW) platform for horse racing in North America and the most direct competitor to NYRA Bets, competing for online horseplayer wallet share nationally.

Emerging players

• Breeders' Cup Limited: Breeders' Cup Limited operates the year-end Breeders' Cup World Championships, which NYRA's Belmont Park will host in 2027. While not a track operator, it is the premier content property in North American thoroughbred racing and a key commercial counterparty for NYRA.

Others

• Resorts World New York City (Genting): Resorts World NYC is a core strategic partner operating the casino at Aqueduct Racetrack with shared casino tax revenue flowing to NYRA's capital budget. It is also an emerging gaming competitor leveraging the same Queens location.

Regional players

• Chester Racecourse: Chester Racecourse is a historic British racecourse that entered a transatlantic partnership with NYRA in 2026, offering graded-stakes pathways from the Boodles May Festival into NYRA's premier American races. It is a comparable premier thoroughbred venue operating in a different geography.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/TheNYRA
• Facebookfacebook.com/thenyra
• Instagraminstagram.com/nyra
• LinkedInlinkedin.com/company/the-new-york-racing-association

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The New York Racing Association