Parx Racing
Parx Racing is a privately held thoroughbred racetrack and pari-mutuel wagering platform in Bensalem, Pennsylvania, offering year-round live racing, multi-channel betting (on-site, online, mobile, IVR), and Grade I stakes events including the $1M Pennsylvania Derby.
- Company typePrivate
- Founded1974
- HeadquartersBensalem, United States
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Parx Racing does
Parx Racing is a privately held thoroughbred horse racing and pari-mutuel wagering operator based in Bensalem, Pennsylvania, run by Bensalem Racing Association, Inc. on a 417-acre facility featuring a 1-mile main track, 7-furlong turf course, and 1,400 horse stalls. The company runs a year-round live racing calendar (January 1 – December 31) anchored by signature Grade I stakes events — the $1 million Pennsylvania Derby and $1 million Cotillion Stakes — alongside Grade II/III races (Gallant Bob Stakes, PARX Dirt Mile, Turf Monster) and Listed stakes such as the Smarty Jones and Cathryn Sophia Stakes.
The operational core is the Parx Racing Betting Platform, an in-house wagering system delivered across four channels: an on-site mutuel windows and self-service kiosk network at the Bensalem track, a web-based account wagering portal (wager.parxracing.com), native iOS and Android mobile applications, and an IVR telephone system accepting both touch-tone (1-888-BET-RACE) and voice commands. The platform carries Equibase and TrackMaster data integrations for entries, charts, past performances, workouts, and StatsMaster analytics, and its simulcast signal is distributed to approximately 99 tracks and OTB venues worldwide. Supporting products include the Player Rewards loyalty program (Bronze through Diamond tiers earning 0.25–5.00 points per dollar wagered), the Let's Go Racing video digest, Parx Racing Replays, and themed live-entertainment nights (e.g., 76ers Night, Star-Spangled Happy Hour, Country Night).
Parx generates revenue through the pari-mutuel takeout on its wagering pools (15–25% depending on bet type), on-site attendance and F&B spend, hospitality rentals (Picnic Grove, Pennsylvania Derby Room), and simuicast fees, with the broader Parx operation complemented by the adjacent standalone Parx Casino. Customers include horse racing bettors across the Mid-Atlantic (with VIP/high-roller tiers above $10,000 in 30-day wagering), horsemen (trainers and owners) using the stable, racing secretary, and condition book infrastructure, and groups booking private events on-property.
Parx Racing firmographics
Firmographics- Name
- Parx Racing
- Legal name
- Bensalem Racing Association, Inc.
- Website
- https://parxracing.com
- Company type
- Private
- Founded year
- 1974
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Parx Racing is a privately held thoroughbred racetrack and pari-mutuel wagering platform in Bensalem, Pennsylvania, offering year-round live racing, multi-channel betting (on-site, online, mobile, IVR), and Grade I stakes events including the $1M Pennsylvania Derby.
- Ownership category
- akta.pro rank
Parx Racing industry classification
Industry- Product category
- Horse Racing and Pari-Mutuel Wagering
- NAICS
- Racetracks (711212), Gambling Industries (7132)
- 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)
Keywords
Where Parx Racing is headquartered
LocationHeadquarters
- HQ city
- Bensalem
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Parx Racing business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure, Others
Revenue model
- Pari-Mutuel Wagering Takeout: Parx Racing operates on a pari-mutuel wagering system where the track takes a percentage (takeout) of each wagering pool. Takeout rates: 17% on Win/Place/Show wagers, 20% on Exacta and Doubles, 25% on Trifecta, Superfecta, Pick 3, and Pick 4 wagers, and 15% on Philly Big 5 with 30% carryover.
- Online/Mobile Betting Platform: The Parx Racing Betting Platform enables online account wagering through website and mobile apps, generating revenue through the pari-mutuel takeout on all wagers placed through the platform.
- Live Racing Events and Attendance: Revenue generated from on-site attendance at live racing events, including admission, food and beverage sales, and wagering at on-track mutuel windows.
- Player Rewards Redemption: While the Player Rewards program primarily drives wagering volume, rewards are redeemed for complimentary services including live programs (125 points), simulcast programs (300 points), food vouchers, and wagering vouchers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Pennsylvania Derby Day - Major Racing Event |
| Transaction based/ take rate | Pay-as-you-go | Player Rewards Program - Bronze Tier (Base) |
| Transaction based/ take rate | Pay-as-you-go | Player Rewards Program - Silver Tier |
| Transaction based/ take rate | Pay-as-you-go | Player Rewards Program - Gold Tier |
| Transaction based/ take rate | Pay-as-you-go | Player Rewards Program - Platinum Tier |
| Transaction based/ take rate | Pay-as-you-go | Player Rewards Program - Titanium Plus Tier |
| Transaction based/ take rate | Pay-as-you-go | Player Rewards Program - Diamond Tier |
| Transaction based/ take rate | Pay-as-you-go | Picnic Grove and Group Events |
Go-to-market motion2 records
Distribution channels6 records
Marketing channels6 records
Parx Racing product offering
Product offeringCore offering
Parx Racing operates a year-round thoroughbred horse racetrack and multi-channel pari-mutuel wagering business at its Bensalem, Pennsylvania facility. The company sells access to live racing and simulcast wagering through on-site attendance, an in-house developed online and mobile betting platform (Parx Racing Betting Platform), and an IVR-based telephone wagering system. Wagering, admission to live racing events, premium stakes race days (Pennsylvania Derby, Cotillion, Gallant Bob), and hospitality services (Picnic Grove, Pennsylvania Derby Room) form the core commercial offering.
Product overview
Parx Racing operates as a premier thoroughbred racetrack and gambling entertainment venue in Bensalem, Pennsylvania. The company offers a multi-channel product portfolio centered on its live racing events and digital wagering platform. The core offering is the Parx Racing Betting Platform, an online and mobile wagering system complemented by IVR-based Interactive wagering via touch tone and voice commands. The company hosts significant racing events including the annual Pennsylvania Derby ($1 million Grade I), Cotillion Stakes, and Gallant Bob Stakes. Additional products include Parx Racing Replays (video replay service), Let's Go Racing (video digest show), simulcast wagering, handicapping education resources, and the Player Rewards loyalty program. Hospitality services include the Picnic Grove outdoor venue, Pennsylvania Derby Room for private events, and the Star-Spangled Happy Hour entertainment series. The company also provides informational services including track records, stakes schedules, and entries & results.
Differentiator
Problem solved
Functional benefit
Brands
- Parx Racing Betting Platform: The company's wagering platform that includes the website, mobile app, and IVR system for horse racing betting.
- Parx Pays Loyalty Program
Products and services
- Parx Racing Betting Platform Online and mobile pari-mutuel wagering platform for horse racing, offering account management, live video streaming across multiple tracks, carryover and pool information, Equibase race data integration, and race replays for individual adult bettors (18+).
- Parx Racing Interactive (Touch-Tone and Voice Wagering) Interactive Voice Response (IVR) telephone wagering system enabling account holders to place bets, check balances, and manage accounts hands-free via touch-tone or voice commands, with access to wagering at Parx Racing and simulcast tracks.
- Pennsylvania Derby Annual flagship Grade I thoroughbred race event held in September for 3-year-olds with a $1,000,000 purse. Includes the Cotillion Stakes (Grade I for 3-year-old fillies) and Gallant Bob Stakes (Grade II for 3-year-olds at 6 furlongs) on the same card. Targeted at racing fans, owners/trainers, and on-site/betting platform customers.
- Picnic Grove Outdoor group hospitality venue with shaded pavilions, dedicated wagering facilities, gazebo bar, playground, and charcoal grill access for groups seeking a racing-themed gathering space at the Bensalem facility.
- Player Rewards Program Six-tier points-based loyalty program (Bronze, Silver, Gold, Platinum, Titanium Plus, Diamond) tied to 30-day wagering thresholds from <$5,000 to $100,000, awarding bonus points per dollar wagered and redeemable complimentary services.
Quantifiable outcome
- Year-round live racing season (January 1 - December 31)
- +4 more outcomes
Companies that use Parx Racing
Customer profileNamed customers10 records
Segments4 records
Ideal customer profiles4 records
Parx Racing technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Parx Racing partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core and minor.
- EquibasecoreEquibase provides comprehensive race data integration including charts, entries, past performances, workouts, summary results, and StatsMaster statistics for Parx Racing. The partnership enables distribution of Parx Racing racing information through Equibase's platform and custom PDF downloads.
- TrackMastercoreTrackMaster serves as an official information service partner for Parx Racing, providing StatsMaster racing statistics and track-specific handicapping data. TrackMaster is referenced as a source for Parx Racing Betting Platform racing information.
- SEPTA (Southeastern Pennsylvania Transportation Authority)minorTransportation partner providing regional rail service to the Bensalem/Parx Racing area. Listed as a transportation resource for guests visiting the racetrack.
- NJ TransitminorTransportation partner providing rail and bus service to the Philadelphia region including connections to Parx Racing. Listed as a transportation resource for guests.
- AmtrakminorNational rail service partner referenced as a transportation option for guests attending Parx Racing events, with connections available through the Philadelphia area.
- Philadelphia International AirportminorPrimary international airport serving the Philadelphia region, located approximately 40 minutes from Parx Racing. Referenced as a travel option for out-of-town guests.
- Bucks County Visitors CenterminorLocal tourism partner providing visitor information about Bensalem and Bucks County attractions. Listed on Parx Racing's quick links alongside racetrack resources.
- Turning For HomecoreCharitable program for retired racehorses partnered with PATHAA (Pennsylvania Thoroughbred Horsemen's Association). Parx Racing supports the initiative to help off-the-track thoroughbreds find second careers after racing.
Scale indicators12 records
Recent moves6 records
Expansion highlights6 records
Parx Racing competitors and assessment
Company assessmentDirect peers
- Churchill Downs Incorporated: Operates the Kentucky Derby host track Churchill Downs and a national ADW platform (TwinSpires). Most directly comparable as a Tier 1 U.S. racetrack operator with a multi-channel digital wagering business targeting horse racing bettors.
- New York Racing Association (NYRA): Operates Belmont Park, Saratoga, and Aqueduct. Comparable as a Tier 1 U.S. racetrack operator running year-round and seasonal meets, with NYRA Bets as its ADW platform.
- The Stronach Group (1/ST Racing): Operates premier U.S. thoroughbred tracks including Santa Anita, Gulfstream Park, and Pimlico. Directly comparable as a multi-track racing operator with simulcast distribution and on-site pari-mutuel wagering.
- FanDuel Racing (formerly TVG): National advance deposit wagering platform for horse racing operated under Flutter. Comparable as an ADW-first wagering competitor that takes takeout on simulcast horse racing and competes for Parx's online bettors.
Broad incumbents
- Caesars Entertainment: Operates Caesars Sportsbook and Caesars Racebook, plus multiple Harrah's and Horseshoe racetrack/casino properties. Comparable as a broad incumbent offering horse racing alongside casino and sports betting under one customer wallet.
- Penn Entertainment: Operates multiple regional racetracks and a large regional casino footprint, including properties in Pennsylvania. Comparable as a broader incumbent that combines pari-mutuel racing with casino gaming and digital wagering.
Others
- Delaware North Companies Gaming & Racing: Operates gaming, racing, and hospitality venues including Suffolk Downs and other racing adjacencies. Comparable as an adjacent industry player in pari-mutuel racing operations and on-track hospitality services.
Regional players
- Woodbine Entertainment: Canadian racing operator (Woodbine Racetrack) with year-round thoroughbred/standardbred racing and its own ADW via HPIbet. Comparable as a year-round racetrack operator with integrated digital wagering, though operating in a different regulatory jurisdiction.
- Delaware Park Racetrack: Thoroughbred and harness racetrack in Delaware with on-site pari-mutuel wagering and simulcast. Comparable regional Northeast racing competitor with overlapping simulcast and ADW dynamics.
- Monmouth Park Racetrack: New Jersey-based thoroughbred track with its own ADW (MonmouthBets). Comparable as a Mid-Atlantic/Northeast regional racetrack with simulcast and ADW capabilities competing for overlapping bettor segments.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Parx Racing social profiles
Digital presenceParx Racing financial estimates
Financial estimateRevenue estimate
Valuation estimate
Parx Racing leadership team
Management profileNumber of profiles
Parx Racing funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Parx Racing M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Parx Racing
What does Parx Racing do?
Parx Racing operates a year-round thoroughbred horse racetrack and multi-channel pari-mutuel wagering business at its Bensalem, Pennsylvania facility. The company sells access to live racing and simulcast wagering through on-site attendance, an in-house developed online and mobile betting platform (Parx Racing Betting Platform), and an IVR-based telephone wagering system. Wagering, admission to live racing events, premium stakes race days (Pennsylvania Derby, Cotillion, Gallant Bob), and hospitality services (Picnic Grove, Pennsylvania Derby Room) form the core commercial offering.
Is Parx Racing a public or private company?
Parx Racing is a private company. It is classified as unknown and is currently operating.
When was Parx Racing founded?
Parx Racing was founded in 1974. It employs 11 to 50 people.
Where is Parx Racing based?
Parx Racing is headquartered in Bensalem, United States, in the North America region.
How does Parx Racing make money?
Four revenue lines are on record. Pari-Mutuel Wagering Takeout is the primary driver. The others are online/Mobile Betting Platform, live Racing Events and Attendance and player Rewards Redemption.
Who are Parx Racing's main competitors?
Direct peers on record are Churchill Downs Incorporated, New York Racing Association (NYRA), The Stronach Group (1/ST Racing) and FanDuel Racing (formerly TVG). Broad incumbents are Caesars Entertainment and Penn Entertainment. Delaware North Companies Gaming & Racing is listed as an others. Regional players are Woodbine Entertainment, Delaware Park Racetrack and Monmouth Park Racetrack.
Does Parx Racing have an API?
No public API is recorded for Parx Racing.
What industry is Parx Racing in?
Parx Racing's product category is Horse Racing and Pari-Mutuel Wagering. Its primary akta.pro industry code is MPAEADAA, Racetrack & Race Meeting Operations, with a secondary code of MPAEADAB, Pari-Mutuel Wagering Operators (Totalisators/Tote). Its NAICS code is 711212 and its SIC code is 7948.