Speed Reads

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The company that runs the Kentucky Derby will make $83 million off the two-minute race

More than half of that revenue comes from high-end ticket sales, Bloomberg reports, and is helpfully pumped by this bit of 1-percent baiting at the Louisville racetrack:

Three years ago, the company opened the Mansion, an area with its own entrance, chefs, and 322 seats that average $10,000 each on Derby day. [Bloomberg]

Beyond ticket sales to 160,000-plus fans, Churchill Downs Inc., which owns several racetracks and casinos, scores about a quarter of its $83 million Kentucky Derby cash haul from TV rights and sponsorships, 16 percent from gambling, and 4 percent from selling food and drink. (That includes 120,000 race-day mint juleps.)

The Kentucky Derby will be broadcast by NBC at 5:30 p.m. on Saturday. Read more about the economics of the race over at Bloomberg.