CHRIMS and Incompass Form Patnership
Updated: Thursday, December 1, 2005 10:20 AM
Posted: Thursday, December 1, 2005 10:20 AM
CHRIMS and InCompass Solutions announced a partnership to offer enhanced simulcast settlement services to racetracks.
Tampa Bay Downs will become the first track to use the services of the new partnership when its live meet begins Dec. 10.
CHRIMS is a non-profit company jointly owned by the simulcast wagering companies in California. InCompass, a subsidiary of The Jockey Club, is a racing office and horsemen's bookkeeper vendor to racetracks.
Together, the companies hope to better assist tracks with the compilation of accounting reports regarding such things as handle, simulcasting, host fees, and takeout.
"By teaming with InCompass, we're able to leverage each company's technical and subject matter expertise to expand the CHRIMS settlement product suite," said CHRIMS president Jenny Lind. "This is an important step toward enhancing the industry's simulcast settlement services."
The CHRIMS system was the first pari-mutuel wagering data processing system in the country to provide comprehensive simulcast settlement services to the industry. It has been in use at every pari-mutuel facility in California since 2000, with information processed and archived back to 1986, as well as at Gulfstream Park and Keeneland since 2001.
"Our partnership presents an opportunity to make the CHRIMS system even more robust through creation of an accounts payable and accounts receivable solution and by integrating a reporting platform that merges data from CHRIMS, InCompass, Equibase and the racetrack into a set of tools that provides track management with data mining and analysis capabilities never before possible," InCompass president David Haydon said.
CHRIMS was launched in 1990 to track all-sources handle on California races and provide automatic breakouts of where each wagered dollar should be directed.
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