The second chapter of the Triple Crown, the Preakness Stakes, was one by California Chrome, after first winning the Kentucky Derby, the first race of the thee races of the Triple Crown of Thoroughbred Racing. The last of the trio is the Belmont Stakes.
Instead of betting on the horses, you might want to consider investing in horse race stocks. WallStreetNewsNetwork.com has a free list of almost a dozen stocks in the horse racing industry, a couple of which pay dividends.
One example is Churchill Downs (CHDN), the host of the Kentucky Derby. This is the holding company of the Churchill Downs Racetrack that originally opened in 1875. It also owns Arlington Park, the Calder Race Course, the Fair Grounds Race Course, and the Trackside Off-Track-Betting Facilities. The stock trades at 29 times trailing earnings, 20 times forward earnings, and pays a yield of 1.0%.
Another horse in the racehorse field is Dover Downs Gaming and Entertainment (DDE), which owns Dover Downs Raceway, a harness racing track with pari-mutuel wagering. The company trades at 13 times forward earnings. The company generated negative earnings for the latest reported quarter.
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. The stock has a forward PE of 30.
For a list of horse racing stocks which you can download, sort and update, go to WallStreetNewsNetwork.com.
Also, if you want a free horse race handicapping program, check out the one at horsetip.com.
Disclosure: Author did not own any of the above at the time the article was written.
By Stockerblog.com
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