Hollywood Park Becomes First U.S. Horse Track To Sign Naming-Rights Deal
Hollywood Park will now “be known as Betfair Hollywood Park” after signing a "five-year naming rights deal, the first for a U.S. racetrack,” according to Eric Mitchell of BLOODHORSE. The value of the deal “was not released.” Betfair operates “the world’s largest betting exchange company” and is based in the U.K. Under the terms of the Hollywood Park agreement, Betfair has said it will make “significant infrastructure investments and improvements.” Those improvements include “creating the Betfair Club, where the current Hollywood Lounge is located on the main floor and a Betfair Lounge, where the VIP Lounge is located on the third floor.” For the televised and online product, Betfair “intends to [introduce] advanced graphics found on the broadcasts of other major sports.” It is anticipated that races for Betfair Hollywood Park “will be presented in high definition.” Betfair also intends to “heavily promote racing at Hollywood Park to a younger audience through electronic media, social media, and other new media outlets and through innovative promotions” (BLOODHORSE.com, 3/13).