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So racing shouldn’t be likely to be an enormous source of growth for CDI, and, as the one player in large-league horse racing that’s a public firm listed on the stock exchange, CDI is under relentless Wall Avenue strain to point out greater and bigger income and earnings. The opposite main players do not face the identical savage capitalist forces. NYRA is for all practical purposes a not-for-profit company, as is Keeneland; the Stronach Group is privately held and insulated from short-term market stress, and all the remaining are, frankly, minor league. Thus, because it’s exposed to raw market forces, CDI is maybe an early harbinger of racing’s future. In that case, that future is not shiny.

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