Churchill Downs Inc. said Nov. 6 it is in a position to grow in various gaming areas, but is mum about what possible ventures might be considered in the future.
One old betting axiom -- "shut out at the window" -- has taken on a whole new meaning when paired with a relatively new one in the racing industry lexicon: "signal wars."
Magna Entertainment Corp. said Nov. 4 it was not sure why its stock price had more than doubled in the last two days of trading on the NASDAQ exchange.
A public changing of the guard at MTR Gaming Group Inc. was experienced Oct. 31 during a conference call with analysts and shareholders, as the company bid farewell to longtime chief Ted Arneault and welcomed his successor Robert Griffin.
The federal lawsuit against Cushion Track and affiliates over the former synthetic racing surface at Santa Anita Park is geared to go forward after a judge recently denied most of the defendants' request for dismissal.
Churchill Downs said Oct. 24 it has not yet received consent from horsemen to distribute its racing signal to national advance deposit wagering sites for its fall meet, which starts Oct. 26.
A California judge has dismissed the lawsuit against Scientific Games over the "quick-picks" wagering situation, agreeing with the company that state public policy prohibits such a complaint as it was presented
A styled class-action lawsuit leveling allegations of fraud and embezzlement against the president of the Louisiana Horsemen's Benevolent & Protective Association has been transferred to federal court, according to recently filed documents.
The court-appointed receiver managing the minority ownership in Horse of the Year Curlin said the sealed-bid process established Oct. 15 to possibly sell the 20% interest in the champion colt will go forward, despite a motion filed in attempt to halt it.
An agreement has reportedly fallen apart for signal distribution of the upcoming Churchill Downs fall meet to advance deposit wagering entities, according to horsemen representatives involved in the negotiations.
Although Keeneland has announced it has been retained to market the 20% minority interest in reigning Horse of the Year Curlin, a pending motion in a Kentucky court is asking for the current sale process to be halted.
A public equity investment firm managed by the president and chief executive officer of Youbet.com is considering several options for the online wagering and tote company, including a potential takeover, according to a recent filing with the Securities and Exchange Commission.
Double-digit percentage drops hit the first open session of the Ocala Breeders' Sales Co.'s fall mixed sale Oct. 7, continuing a trend from the previous day's consignor-preferred session.
It took roughly six hours to get there, but a horse selling in the opening session of the Ocala Breeders' Sales Co. fall mixed sale finally brought six figures Oct. 6, a day marked by severe across-the-board declines for the Central Florida auction.
With a yearling auction season all but over, and one that delivered a sharp dose of economic reality, industry eyes will be fixed on the upcoming Ocala Breeders' Sales Co. fall mixed sale, the unofficial annual kick-off to the campaign of selling of broodmares and weanlings.
Shares of Magna Entertainment Corp. plummeted by more than 50% on heavier than average volume Sept. 30, prompting more concern for the owner of the site of next month's Breeder' Cup World Championships.
A Kentucky state judge signed an order Sept. 25 that could possibly pave the way for the minority interest in defending Horse of the Year Curlin to be sold by sealed bid.
While signal distribution at racetracks continues to be a hot topic in the horse racing industry, that doesn't appear to be the case at Hawthorne Race Course, which opens its meet Sept. 26.
Cushion Track Footing and affiliated defendants have indicated in a recent court filing that they may countersue certain defendants in the federal lawsuit over Santa Anita Park's original synthetic surface.
The Portland Meadows meet, which looked for a time like it might be canceled, is scheduled to kick off Oct. 5, despite ongoing issues in Oregon.
Scientific Games claims the lawsuit brought against the gaming company over the recent "quick-picks" wagering situation cannot be judged in the California federal court system, and its settlement with the California Horse Racing Board was an appropriate measure to satisfy damages caused by any "alleged" defect in its betting systems.
Power outages to the barn area and the Kentucky Derby Museum are about the only effects Churchill Downs felt from the Sept. 14 windstorm created by the remnants of Hurricane Ike.
A Maryland attorney who is a shareholder of Penn National Gaming Inc. has filed a styled class-action lawsuit against the publicly-traded gaming company and certain of its executives over the failed buyout attempt by two investment entities.
Early handicapping on signal distribution of the Breeders' Cup World Championships shows the prestigious event will be available to a wide variety of outlets and bettors, at first glance calming fears of any "signal wars" fallout evident in other revenue-sharing disputes involving advance deposit wagering.
Ellis Park ended its annual racing meet Sept. 1 with a 3% drop in daily handle, despite broader signal distribution to advance deposit wagering outlets.
Relevant players speak out on California "quick-picks" wagering situation.
A long-time adversarial shareholder of MI Developments has asked the parent company of Magna Entertainment Corp. to re-examine its interest in the racing and gaming entity, calling MEC a "failed" business enterprise.
Churchill Downs Inc. has fired back at horsemen's groups it has sued over alleged federal antitrust violations, calling their collective actions "price-fixing, pure and simple."
At least two lawsuits styled as class-action efforts have been filed in California against Scientific Games Corp. over the "quick-picks" wagering situation that came to light following the Kentucky Derby Presented by Yum! Brands (gr. I).
Turfway Park said Aug. 20 it has received horsemen's consent to distribute its racing signal for the upcoming fall under the auspices of the present exclusive agreement with TVG, thus ending any speculation of a standoff similar to those plaguing other tracks.
Defendants in the lawsuit over Santa Anita Park's troubled synthetic surface have filed motions asking a California federal court to dismiss the action against them for various reasons.
Magna Entertainment Corp. has announced it has reached an agreement to sell land once designated by its founder for racetrack development in Ocala, Fla., for $16.5 million.
Several advance deposit wagering entities posted increased handle through the Oregon hub system in the second quarter of the year, despite an overall national decline blamed primarily on a revenue-sharing dispute between horsemen's groups and various tracks.
TVG, which posted partial-quarter net revenues of $8.8 million for new owner Macrovision Solutions Corp. Aug. 7, is still on the sales block. Officials with the parent company said the horse racing network has received multiple inquiries from undisclosed suitors.
The head of Magna Entertainment Corp. said Aug. 6 a majority interest of Santa Anita Park could be sold to help the racetrack company reduce its staggering debt load.
Churchill Downs Inc. said Aug. 6 it was pleased with its second quarter results despite various challenges that left the company with flat earnings in year-over-year comparison, claiming a high-profile dispute with horsemen had "little impact" on certain aspects of its financial performance.
Youbet.com, during an Aug. 5 conference call in which it reported a profit for the second straight quarter, said it is evaluating the effects of a possible merger with TVG.
Willmott Stables' Wesley moved from last to first on the final turn before breaking free from a tightly-bunched field in deep stretch to win the National Museum of Racing Hall of Fame Stakes (gr. IIT) at Saratoga Race Course Aug. 4.
MTR Gaming Inc. has defined as core assets its two Thoroughbred racinos and an Ohio harness track, and will examine sale possibilities of all other properties to reduce debt and raise shareholder value, the company said July 30.
The Kentucky Horsemen's Benevolent and Protective Association has formally filed a counterclaim in the federal antitrust lawsuit brought by Churchill Downs Inc. and affiliates, and has joined with other defendants asking for their dismissal from the case.
Kodiak Kowboy overtook favorite Desert Key in the deep stretch, powering to a head victory in the Amsterdam Stakes (gr. II) for 3-year-olds at Saratoga Race Course July 28.
Flush with settlement funds from a failed buyout attempt from private equity groups, Penn National Gaming Inc. said July 24 it is ready to examine the many options it has for its future.
A July 21 mediation session with a member of the Oregon Racing Commission yielded no agreement in a standoff between TVG and Portland Meadows on source-market fees, although progress was reported.
Wagering has dropped 11% on North American Thoroughbred racing since the end of the Triple Crown series -- at least by one indicator -- a disturbing trend that can likely be attributed to a variety of factors.
TVG and Portland Meadows have until July 21 to work out an agreement on source-market fees, or face the prospect of unspecified sanctions by the Oregon Racing Commission.
Fifth Third Bank is asking a federal bankruptcy court for assistance in taking possession of certain assets held by ClassicStar LLC, including stallion shares and income from other sires.
Oregon horsemen claim they are caught in the middle of a battle between TVG and Magna Entertainment Corp. over source-market fees, a dispute they claim could jeopardize this year's Portland Meadows fall meet.
Magna Entertainment Corp. has announced the sale of Great Lakes Downs to The Little River Band of Ottawa Indians for $5 million cash, less customary closing adjustments.
Handle jumped more than 50% in the first three days of the Ellis Park meet, which started a week late due to a disagreement over revenue sharing.
A New York investment company and affiliates have lost their appeal of a shareholder oppression lawsuit they originally filed against the parent company of Magna Entertainment Corp., with the Canadian judges affirming lower-court awarded indemnity costs of $2.1 million.
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