Racetracks NAICS 711212

Sep 18, 2025 - Uptick in National Equine Fatality Rate: HISA

• The racing-related equine fatality rate was 1.2 fatalities per 1,000 starts in Q2 2025, up from 0.76 fatalities per 1,000 starts from the same period a year ago, according to the Horseracing Integrity and Safety Authority’s (HISA) most recent metrics report. For the first half of 2025, the nationwide racing-related fatality rate was 1.06 per 1,000 starts. The uptick may be related to risk factors in affected horses such as long layoffs before returning to racing, as well as a rise in fatalities related to the fetlock joint and atrial fibrillation. On a positive note, the fatality rate in Q2 2025 is a 16% decrease from the 1.8 fatalities per 1,000 stats recorded in Q2 2023, which was the first year of data collection. Nine racetracks posted progress in their year-over-year racing fatality rate in Q2 2025, with four tracks recording a 100% decline year over year.
• Indicators measuring the collective mood of US consumers showed a downward turn, with consumer confidence and consumer sentiment levels falling. Consumer confidence levels, an indicator of discretionary expenditures, declined in August 2025, month over month, falling by 1.3 points, according to the Consumer Confidence Index. Consumer confidence levels were lower in August, but remained similar to levels in the past three months, according to The Conference Board, which publishes the monthly index. August’s loss can be attributed to consumers under 35 years old, while confidence levels rose for consumers over 55. In addition, the consumer sentiment index from the University of Michigan dropped in September 2025. The index fell to 55.4 in preliminary data for September from 58.2 in August. Year over year, the index was 21% lower than September 2024’s 70.1. Year-ahead inflation expectation results held steady monthly, as consumers convey lingering anxiety about prices amid tariff impacts. The index serves as a predictor of consumer spending as it indicates consumers’ perception of their financial prospects and the broader economy.

• Immigration raids are impacting the racetrack industry, following a June 2025 raid with 80 arrests at Delta Downs in Louisiana, according to the Associated Press. The US Immigration and Customs Enforcement (ICE) conducted the raid at Delta Downs Racetrack, Hotel, and Casino in Calcasieu Parish, after receiving a tip about unauthorized workers. Some in the racing industry spoke out following the raid, saying that the raid left the racetrack without essential workers such as groomers and stable workers who provide horses with skilled care around the clock. Peter Ecabert, general counsel for the National Horsemen’s Benevolent and Protective Association representing 29,000 thoroughbred racehorse owners and trainers, said the racetrack would have been willing to work with ICE to make sure things were done in an orderly way. “To come in and take that many workers away and leave the horse racing operation stranded and without workers is unacceptable,” he said.
• The US racetracks industry is projected to grow at a CAGR of 4.88% between 2025 and 2029, faster than the overall economy's projected growth, according to a forecast from Inforum and the Interindustry Economic Research Fund, Inc. Consumer confidence is expected to improve in the forecast period, which bodes well for the arts, entertainment, and recreation sector. Consumer expenditure for membership clubs, sports centers, parks, theaters, and museums drives much of the revenue for the sector. While this spending dropped severely during the pandemic lockdown, recovery has gradually occurred. Real spending for spectator sports has experienced a robust recovery, with real spending up 44.5% in Q3 2024. A factor that may curb consumer spending is substantially higher tariffs on consumer goods. On a positive note, lower inflation supports a moderate increase of real disposable income by about 2% in 2025 and 1.9% in 2026.