Saturday, May 16, 2009

Triple Crown Horse Racing Stocks

Now that we are in the midst of the Triple Crown, the most famous series of horse races, and a filly just won the Preakness for the first time in 85 years, investors are taking a closer look at race horse horse racing related companies. The following are some of the stocks involved in the horse racing industry.

Churchill Downs Inc. (CHDN), the home of the legendary Kentucky Derby, owns several racetracks, off-track betting facilities, and Churchill Downs Simulcast Productions. Their P/E is 23, with a yield of 1.3%.

Canterbury Park Holding Corp. (CPHC) operates year-round pari-mutuel wagering on simulcast and live horse races, along with track concessions and a card club, at the Canterbury Park Racetrack in Minnesota which it owns and operates. The stock has a P/E of 60. This is a low cap stock and should be considered speculative.

Dover Downs Gaming & Entertainment Inc. (DDE) owns Dover Downs Raceway, a harness racing track with pari-mutuel wagering. The company has a P/E of 10 and pays a yield of 3.4%.

Magna Entertainment Corp. (MECAQ.PK) owns several horse racetracks and off track facilities. This is a very low cap stock and should therefore be considered very speculative.

MTR Gaming Group Inc. (MNTG) owns racetracks in West Virginia, Pennsylvania, and Ohio. Earnings have recently been negative. This is a low cap stock and should be considered speculative.

Penn National Gaming Inc. (PENN) owns racetracks and off-track wagering facilities in Colorado, Illinois, Indiana, Iowa, Louisiana, Maine, Mississippi, Missouri, New Jersey, Ohio, Pennsylvania, West Virginia, and Ontario. Earnings have recently been negative.

Author does not own any of the above.



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