More than $100 million is bet on the Kentucky Derby. With growing competition from casinos and online gambling, horse racing is a sport in transition. Revenues are up, yet racetrack attendance is down.
Despite the uncertainty over Telstra, Charlie Lanchester, portfolio manager at Perpetual Investments & Gareth Hulbert, portfolio manager at Macquarie Private Portfolio Management, tell CNBC's Oriel Morrison why they think it's a good time to buy the stock.
Breeding horses is big business, bringing in $4 billion a year in Kentucky. It's easy to see why the success of the breeding industry directly affects the success of the Derby.
The Kentucky Derby isn't just about the horses. More than 120,000 mint juleps are sold during Derby weekend. And then there's the big fashion/big business of Derby hats.
More than $100 million is bet on the Kentucky Derby. With growing competition from casinos and online gambling, horse racing is a sport in transition. Revenues are up, yet racetrack attendance is down.
CNBC’s Melissa Francis looks inside famed jockey Chris McCarron's North American Racing Academy, the only program of its if kind in the U.S. Jockey Gary Stevens comments on the importance of this two-year program, a place where young jockeys start their careers.