As the dust settles on the 150th Kentucky Derby, records have been shattered and history rewritten at the Churchill Downs racetrack. An astounding $446 million in bets were placed during this year’s Derby week, with a crowd of 156,710 fans flocking to witness a thrilling race crowned by Mystik Dan’s remarkable victory.
The Triumph of Mystik Dan
This year’s Derby winner, Mystik Dan, defied the odds and the cloudy skies to clinch the coveted Garland of Roses. Owned by a consortium including 4 G Racking, LLC, and Valley View Farm, LLC, and skillfully guided by jockey Brian Hernandez Jr., Mystik Dan secured the win in a nail-biting photo finish. “We knew we had a champion in him. Despite the odds, Mystik Dan and Brian Hernandez Jr. performed spectacularly to bring home the victory,” trainer Kenneth McPeek shared, reflecting on the intense final moments of the race.
Betting Bonanza
The event not only celebrated the victory of a new champion but also marked an unprecedented surge in betting activity. “The 2024 Derby not only celebrated its 150th anniversary but also saw us breaking last year’s betting record, reaching a monumental $446.6 million throughout the week,” said Churchill Downs CEO, Bill Carstanjen. He further added, “The Kentucky Derby stands as a symbol of sportsmanship and tradition. With the inauguration of our new Paddock, we have elevated the experience for all our guests, ensuring that the Derby remains a beacon for racing enthusiasts worldwide.”
Global Spotlight and Luxurious Amenities
This year’s Derby transcended U.S. borders, attracting global attention with participants from Japan making significant impacts. Forever Young and T O Password, the two Japanese contenders, finished third and fifth respectively, showcasing the international allure of the Derby.
Moreover, attendees enjoyed enhanced luxury through new facilities like the Woodford Reserve Paddock Club and Sports Illustrated’s Club SI. These additions offered premium views and exclusive amenities, setting a new standard for spectator experience at the races.
A Look Ahead
As the curtains close on this historic event, the impact of this year’s Derby extends beyond the racecourse. “Looking forward, we anticipate the Kentucky Derby Week Adjusted EBITDA to hit new heights, projecting a growth of $26 to $28 million over the previous record,” Carstanjen concluded, hinting at an even brighter future for the iconic race.
With record-breaking bets, a stunning victory, and new facilities enhancing the spectator experience, the 150th Kentucky Derby has not only celebrated a milestone but also set the stage for the next era of this storied event.
On Saturday, Macau, the renowned gaming destination in China, hosted its concluding horse racing events at the Taipa Racecourse, marking the end of a four-decade-long tradition. Despite the historical significance, the spectator stands were notably underfilled, as enthusiasts placed their last bets in the city better known for its casino offerings.
The closing races on March 30, 2024, at the Macau Jockey Club’s Taipa Racecourse, represented the final chapter of horse racing in the region. Earlier in January, the local government announced the early termination of its agreement with the Macau Jockey Club (MJC), cutting short a 24-year contract established in 2018. This contract initially required the MJC to commit to substantial investments in infrastructure improvements and service expansion.
The Taipa Racecourse will revert to government control, with no future plans to revive racing (Image: Sky Racing World). The decision came as horse racing struggled to regain its pre-pandemic popularity, leading to significant financial losses for the MJC, amounting to over $311 million last year alone. The Macau Horse Racing Company (MHRC), the MJC’s parent entity, subsequently requested a contract release from the government.
The government cited the “impossibility of aligning horse racing with the current societal development needs” and the diminishing interest among locals and tourists as key reasons for the contract termination, explained Secretary for Administration and Justice Cheong Weng Chon in January.
As part of the termination deal, the MHRC will relocate the horses owned by the club by March 31, 2025, and will offer severance to its employees. Despite the waning popularity, the MJC was among Macau’s largest private sector employers, with approximately 800 full-time and 300 part-time staff.
The MJC site, including the Taipa Racecourse, is to be returned to the government, which currently has no intentions of constructing another racetrack. However, there have been discussions among lawmakers about possibly converting the site into a venue for international sports.
Founded in 1980 as the Macau Trotting Club for harness racing, the club shifted focus to thoroughbred racing due to the initial model’s lack of success. In 1991, the MJC was taken over by the MHRC, a group led by the late casino mogul Stanley Ho, who maintained a gambling monopoly in Macau until 2002.
Meanwhile, horse racing continues to enjoy popularity in the nearby region of Hong Kong.
