Hollywood Park to add sponsor name to track
March 13, 2012INGLEWOOD, Calif. (AP) - Hollywood Park will add the name of sponsor Betfair to the historic track in the first such naming rights deal for a U.S. racetrack.
The five-year deal announced Tuesday calls for the track to be renamed Betfair Hollywood Park and for major technology, facility and infrastructure upgrades pending approval of the track's racing dates for 2013. The upcoming spring-summer meet is to run April 26-July 15.
Betfair US is a Los Angeles-based subsidiary of Betfair Group that also owns TVG, the horse racing network. It plans to create a club on the main floor and a lounge on the third floor with improved technology and food and beverages. The track's simulcast signal will be produced by TVG.
The California Horse Racing Board is considering regulations that would make possible exchange wagering on racing by state residents for the first time.
Track president Jack Liebau says partnering with Betfair will modernize the racing product and help attract a younger fan base.
Hollywood Park opened in 1938, and hosted the first Breeders' Cup in 1984.