New York Racing Association (NYRA) hopes to bolster non-gambling revenues at Saratoga Race Course by constructing a three-story luxury viewing facility near the finish line.
Racing operations have struggled in recent years, and the 36,000-square-foot premium seat area is expected to diversify revenue streams that currently rely heavily on electronic gambling – $2.55 billion was wagered at NYRA’s three tracks in 2017.
The Saratoga project would consist of six luxury suites on the third level that provide an experience consistent with stick-and-ball sports. The structure’s second floor will incorporate a club space for up to 140 people, and the first floor will consist of a banquet space.
The luxury suite experience plans come on the heels of The Stretch opening at Saratoga. The new premium seating area is nearly sold-out, according the NYRA.
NYRA is also prime for new revenue opportunities at Belmont, where developers are building a new arena for the NHL’s Islanders, retail space, and a hotel.