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NYRA and DraftKings announce new sponsorship agreement

by Pat McKenna

DraftKings Inc. (Nasdaq: DKNG) and the New York Racing Association, Inc. (NYRA) today announced a new agreement establishing DraftKings as the presenting sponsor of the 155th running of the Grade 1, $1.25 million Travers.

The DraftKings Travers will serve as the centerpiece of the 2024 summer meet at historic Saratoga Race Course, which will open Thursday, July 11 and continue through Monday, September 2. The blockbuster DraftKings Travers Day on August 24 will include five prestigious Grade 1 events in total, with live national television coverage on FOX and the FOX Sports family of networks.

Under the sponsorship announced today, DraftKings’ advance deposit wagering offering, DK Horse, will play a prominent role throughout the 2024 Belmont Stakes Racing Festival and become presenting sponsor of the Grade 1, $500,000 DK Horse Acorn. Launched in 2023, DK Horse is a standalone app currently available in 20 states and allows eligible customers access to pari-mutuel wagering on domestic and international racing.

“Bringing DraftKings and DK Horse back to Saratoga for a second consecutive year is a tremendous honor,” said Christopher Cipolla, General Manager, Horse Racing, DraftKings. “Having our branding present throughout the summer at one of the most beautiful and well attended race tracks in all of the world and being named the presenting sponsor of this year’s Travers and Acorn further cements our commitment to the sport of horse racing.”

The DK Horse Acorn will anchor day two of the Belmont Stakes Racing Festival on Friday, June 7, which will include three Grade 1 events among four stakes in total.

Highlighted by the 156th edition of the Belmont Stakes on Saturday, June 8, the 2024 Belmont Stakes Racing Festival will begin on Thursday, June 6 and continue through Sunday, June 9. The four-day Festival at Saratoga Race Course will include 24 stakes races with purses exceeding $10.1 million, the highest purse levels and number of stakes offered since the launch of the multi day Belmont Stakes Racing Festival in 2014.

“DraftKings is a premier brand within the rapidly growing sports wagering marketplace, and this arrangement will help to introduce world class racing to a wider audience of fans and bettors, “said Tony Allevato, NYRA Chief Revenue Officer. “This will be a tremendously exciting year at Saratoga Race Course, and we thank DraftKings for supporting New York horse racing.”

The DraftKings and DK Horse brands will be displayed throughout the Saratoga property beginning in June, with a variety of on-site activations reminding fans of the broad availability of DraftKings products.

An active member of the American Gaming Association (“AGA”), DraftKings is committed to promoting the AGA’s Have A Game Plan.® Bet Responsibly™ public service campaign, which educates customers on responsible gaming best practices, such as establishing and adhering to a budget and only engaging with legal, regulated operators.

DraftKings is committed to creating inclusive and responsible pathways for people to build, create, imagine and innovate through the DraftKings S.E.R.V.E.S. program.

Prior to the start of the 2023 season, the Saratoga County Industrial Development Agency released the findings of an independently commissioned study which attributed $371 million in economic activity and more than 2,900 jobs to the annual Saratoga summer meet. The report found that the overall economic impact generated by Saratoga Race Course has increased by 57 percent since 2014.

About DraftKings

DraftKings Inc. is a digital sports entertainment and gaming company created to be the Ultimate Host and fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings’ mission is to make life more exciting by responsibly creating the world’s favorite real-money games and betting experiences. DraftKings Sportsbook is live with mobile and/or retail sports betting operations pursuant to regulations in 27 states and in Ontario, Canada. The Company operates iGaming pursuant to regulations in five states and in Ontario, Canada under its DraftKings brand and pursuant to regulations in three states under its Golden Nugget Online Gaming brand. DraftKings’ daily fantasy sports product is available in 44 states, certain Canadian provinces, and the United Kingdom. DraftKings is both an official daily fantasy and sports betting partner of the NFL, NHL, PGA TOUR, and UFC, as well as an official daily fantasy partner of NASCAR, an official sports betting partner of the NBA and an authorized gaming operator of MLB. In addition, DraftKings owns and operates both DraftKings Network and Vegas Sports Information Network (VSiN), to provide a multi-platform content ecosystem with original programming. DraftKings is committed to being a responsible steward of this new era in real-money gaming with a Company-wide focus on responsible gaming and corporate social responsibility.

Forward-Looking Statements

Certain statements made in this press release are “forward looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “would,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside DraftKings’ control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see DraftKings’ filings with the U.S. Securities and Exchange Commission. DraftKings does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

About the New York Racing Association (NYRA)

The New York Racing Association, Inc. (NYRA) is a not-for-profit organization franchised by New York State to conduct thoroughbred racing at Aqueduct Racetrack, Belmont Park and Saratoga Race Course. NYRA tracks are the cornerstone of New York’s horse racing economy, which is responsible for 19,000 jobs and more than $3 billion in annual statewide impact.

NYRA is the parent company of NYRA Bets, LLC, the national advanced deposit wagering platform launched in 2016 and currently available to customers 36 states. NYRA Bets provides bettors the opportunity to wager on tracks worldwide from anywhere at any time. The NYRA Bets app is available for download on iOS and Android at NYRABets.com.