Betfair signs American naming rights deal

The agreement will see the Hollywood Park thoroughbred racecourse in Inglewood, California rechristened Betfair Hollywood Park while Betfair stated that it also plans to make ‘significant infrastructure investments and improvements’ that will include the creation of the Betfair Club and the VIP Betfair Lounge.

This is the first naming rights deal of its kind for an American horseracing venue and it is subject to Hollywood Park receiving assurances from the California Horse Racing Board regarding its 2013 schedule.

Betfair US also owns the Television Games Network and the agreement is due to additionally see the specialty horseracing broadcaster produce simulcast programming from the California venue alongside advanced graphics packages to enhance user experience and available data available.

“We are deeply committed to changing US horseracing for the better and are delighted to find a partner in Hollywood Park Racing Association willing to take the bold step of trying to change every facet of the racing experience to appeal to a broader and younger audience,” said Stephen Burn, Chief Executive Officer for Betfair US and Television Games Network.

“Horseracing is a wonderful sport but it must embrace cultural change and utilise advancements in technology and presentation to survive and thrive just as other sports and entertainment industries have done. We hope this is the first of many examples of using the assets of technology companies such as Betfair to revitalise historic venues such as Betfair Hollywood Park.”

The California Horse Racing Board is currently considering regulations that would see residents of the western state able to engage in exchange wagering, which would be a first for American punters.

“We realise that US racing and California racing in particular simply cannot continue on as it has,” said Jack Liebau, President for Hollywood Park Racing Association. “We need to look at the way we do everything in presenting our product to the public and not be afraid to embrace change, particularly if we are going to generate a younger fan base.

“We believe that partnering with Betfair to modernise the product will benefit California racing. Exchange wagering is another possibly transformative technological change for horseracing. However, it will only be introduced after a thorough consultation with our horsemen and horsewomen and, of course, its implementation is ultimately subject to the approval of the Thoroughbred Owners of California.”