NAICS 711212 Quarterly Industry Report
Racetracks
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 711212Sector: Arts, Entertainment, and Recreation (71)Updated: Q1 2026
About This Report
Fair Market Value compiles this NAICS 711212 industry report using data from the U.S. Census Bureau[7], the Bureau of Labor Statistics[6], and the Small Business Administration[8]. Our research team analyzes wagering handle volumes, admissions revenue, and facility use rates to build valuation benchmarks for racetrack businesses. This report on NAICS 711212 is updated quarterly to reflect wagering trends and regulatory developments in racing states.
Industry Snapshot
Key metrics for the racetracks industry.
NAICS Sector
71
Arts, Entertainment, and Recreation
Industry Definition & Overview
Racetracks (NAICS 711212) encompasses establishments primarily engaged in operating racetracks for events such as auto racing, dog racing, horse racing, and other vehicle and animal racing competitions. These facilities generate revenue from admissions, pari-mutuel wagering handle, simulcast fees, concessions, corporate hospitality suites, sponsorship agreements, and facility rental for non-racing events.
Horse racing tracks represent the traditional core of this industry, with pari-mutuel betting providing a major revenue stream. Many states permit slot machines and video lottery terminals at racetracks under racino licensing frameworks, adding gaming revenue to the operating mix. Auto racing circuits host NASCAR, IndyCar, drag racing, and sports car events that draw large spectator crowds and command premium sponsorship packages. Dog racing has declined sharply due to state-level bans, with most greyhound tracks closing or converting to other uses.
The Census Bureau[5] tracks spectator sports revenue that includes racetrack operations. State racing commissions regulate wagering, licensing, and purse fund distribution for horse and dog tracks. The Bureau of Labor Statistics[6] reports employment for facility managers, track maintenance workers, and event operations staff. Racetrack facilities require substantial land and infrastructure investment. Major horse racing venues cluster in Kentucky, New York, California, Florida, and Maryland, while auto racing facilities are distributed across the Southeast, Midwest, and Southwest.
What's Included in This Industry
- Horse racing track operations and meet management
- Auto racing circuit event production
- Pari-mutuel wagering window and kiosk operations
- Simulcast racing signal distribution and off-track betting
- Racino gaming floor operations at licensed tracks
- Dog and greyhound racing events
- Corporate hospitality suite and premium seating sales
- Track facility rental for non-racing events
- Concession and food service at racing venues
- Sponsorship and naming rights sales for racing events
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Arts, Entertainment, and Recreation | 71 |
| Subsector | Performing Arts, Spectator Sports, and Related Industries | 711 |
| Industry Group | Spectator Sports | 7112 |
| NAICS Industry | Spectator Sports | 71121 |
| National Industry | Racetracks | 711212 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 711211 | Sports Teams and Clubs | Professional sports teams compete for spectator entertainment spending and share venue infrastructure concepts with racetrack operations |
| 711219 | Other Spectator Sports | Other spectator sports events including boxing and mixed martial arts share arena and event production logistics with racing promotions |
| 713210 | Casinos (except Casino Hotels) | Casinos compete for gambling revenue and in some states operate slot machines at racetracks under racino licensing agreements |
| 713290 | Other Gambling Industries | Other gambling industries including off-track betting parlors distribute simulcast racing signals that generate wagering commission revenue for tracks |
| 711310 | Promoters of Performing Arts, Sports, and Similar Events with Facilities | Event promoters with facilities book non-racing entertainment at tracks during off-season periods, generating supplemental facility rental income |
| 115210 | Support Activities for Animal Production | Animal breeding services supply thoroughbred, standardbred, and quarter horse stock that populate racing programs and sustain track operations |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | California | 8.7% | 48 |
| 2 | Florida | 8.1% | 45 |
| 3 | New York | 6.5% | 36 |
| 4 | Illinois | 4.5% | 25 |
| 5 | Texas | 4.0% | 22 |
| 6 | Indiana | 4.0% | 22 |
| 7 | Pennsylvania | 3.8% | 21 |
| 8 | Ohio | 3.6% | 20 |
| 9 | Kentucky | 3.4% | 19 |
| 10 | Wisconsin | 3.4% | 19 |
% Of Establishments
0%
9%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
24
Total SBA Loans
$44.4M
Total Loan Volume
$1.9M
Average Loan Size
20 yrs
Average Loan Term
9.98%
Average Interest Rate
736
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: The SBA size standard[9] for NAICS 711212 is $47 million in average annual receipts, classifying tracks below this revenue threshold as small businesses for federal programs. Racetrack operators can access SBA 7(a) loans[10] for facility improvements, equipment, and working capital, while SBA 504 loans[11] support track property acquisition and construction. Many smaller regional and county fair tracks qualify as small businesses.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | IncredibleBank | 8 | $20.9M | $2.6M |
| 2 | Newtek Bank, National Association | 8 | $16.0M | $2.0M |
| 3 | Gibsland Bank & Trust Company | 8 | $7.5M | $935K |
Frequently Asked Questions
Common questions about this industry.
What types of businesses fall under NAICS 711212?
NAICS 711212 covers racetrack operators hosting competitive events. This includes horse racing tracks, auto racing circuits, drag strips, greyhound tracks, and racinos that combine racing with casino gaming.
How is NAICS 711212 different from 713210?
NAICS 711212 covers racetracks where wagering is tied to racing outcomes, while 713210 covers casinos offering table games and slot machines independent of racing. Racinos bridge both codes by combining racing and casino gaming, per Census Bureau classifications[12].
What is the SBA size standard for racetracks?
The SBA sets the size standard for NAICS 711212 at $47 million in average annual receipts. Tracks below this threshold qualify as small businesses for federal contracting and lending, per the SBA size standards table[9].
What NAICS codes are related to racetracks?
Related codes include 711211 (sports teams), 711219 (other spectator sports), 713210 (casinos), 713290 (other gambling), 711310 (venue operators), and 115210 (animal breeding). Each connects through competition, wagering, or livestock supply.
What industries are closely related to racetracks?
Closely related industries include casinos (713210), off-track betting (713290), professional sports (711211), horse breeding (115210), and event venue management (711310).
What activities are included in racetrack operations?
Activities include race meet management, pari-mutuel wagering, simulcast distribution, racino gaming, concessions, corporate hospitality, sponsorship sales, and facility rental. State racing commissions regulate track licensing and wagering operations.
Can racetracks get SBA loans?
Where are racetracks concentrated in the United States?
Horse racing concentrates in Kentucky, New York, California, Florida, and Maryland. Auto racing circuits cluster in the Southeast (Charlotte, Daytona) and Midwest (Indianapolis). Regional tracks operate in most states with active racing commissions, per Census Bureau County Business Patterns[13].
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]Census Bureau data.census.gov
- [6]Bureau of Labor Statistics bls.gov
- [7]U.S. Census Bureau census.gov
- [8]Small Business Administration sba.gov
- [9]SBA size standard sba.gov
- [10]SBA 7(a) loans sba.gov
- [11]SBA 504 loans sba.gov
- [12]Census Bureau classifications census.gov
- [13]Census Bureau County Business Patterns census.gov
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