Finance Notes: Indoor Cycling Company Peloton To Launch In U.K.

Indoor cycling company Peloton, a favorite "among Hollywood celebrities," will open in the U.K. in a £50M ($65.4M) launch. The "bulk of the investment" will go into building a 20,000-square-foot studio in Covent Garden. The "likes of Hugh Jackman, Ellen DeGeneres and David Beckham" have taken to social media "posting punishing sessions" at Peloton since it was founded in '12 (London TELEGRAPH, 9/22).

Senior Australian racing officials and Tabcorp "are growing increasingly concerned about the decline of tote betting" and are "brainstorming" ways to "boost its appeal to punters," according to Racing Victoria CEO Giles Thompson. Tabcorp, which holds the exclusive license to "run retail and tote betting in Victoria, is the joint-venture partner of the state racing industry and its biggest source of funding." Racing Victoria's accounts for the past financial year revealed a 6% slump in revenue from parimutuel betting turnover, which had "sustained the industry for decades" (SYDNEY MORNING HERALD, 9/24).