Ryan Conley

Judge Orders ClassicStar Liquidation

Judge Orders ClassicStar Liquidation

A federal bankruptcy judge has signed an order to convert the Chapter 11 business reorganization of ClassicStar LLC to Chapter 7 liquidation, paving the way for creditors to pursue whatever assets they can find linked to the former broodmare-lease operator.

MTR Gaming Touts 2008 as Better Year

MTR Gaming Touts 2008 as Better Year

In an April 7 conference call where an executive announced an end to a workers' strike at its signature racino, MTR Gaming Group also claimed its 2007 financial performance was a product of a four-year business plan to diversify and strengthen the company.

MEC Gets Extension on $40-Million Loan

MEC Gets Extension on $40-Million Loan

Magna Entertainment Corp. has been granted a one-month extension on a $40-million loan that was due to mature March 31, a credit agreement that is secured by the assets of the company's Golden Gate Fields and Santa Anita Park.

Proposal: MEC Parent to Sell Interest

Proposal: MEC Parent to Sell Interest

The parent company of Magna Entertainment Corp. has announced a proposal that would result in the sell-off of its controlling investment in the racing company to entities affiliated with company founder Frank Stronach.

Track Owner Boosts Stake in MTR Gaming

Track Owner Boosts Stake in MTR Gaming

Jacobs Entertainment Inc. and its affiliates have recently increased their overall stake in MTR Gaming Group, a move that follows a January announcement that the owner of Colonial Downs was shifting its focus towards facilities that feature multiple forms of gaming.

Judge Clears CDI Payment to Guild

Judge Clears CDI Payment to Guild

A federal bankruptcy judge recently signed an order paving the way for Churchill Downs Inc. to make a contractual payment of nearly $150,000 to the Jockeys' Guild, which will use the money to pay medical and insurance bills.

CDI: 2007 Challenges, 2008 Opportunities

CDI: 2007 Challenges, 2008 Opportunities

Churchill Downs Inc. is asking for patience in seeing financial rewards from what it termed an $80 million investment into the advance deposit wagering industry in 2007, and promises to act on opportunities for the company's progress in 2008.

Ellis Park Owner Vows to Battle On

Ellis Park Owner Vows to Battle On

Ron Geary said he is facing a myriad of economic pressures in making Ellis Park a viable operation, but the owner of the Henderson, Ky., racetrack vows to fight the challenges with every resource before he considers closing the facility.

MEC's Parent Company May Step in Again

MEC's Parent Company May Step in Again

The parent company of Magna Entertainment Corp. says the racing and gaming company needs to sell off assets as quickly as possible to drive down debt, and may not be able to repay loans that are set to expire in May.

Youbet Settles Lawsuit in Virginia

Youbet Settles Lawsuit in Virginia

A federal lawsuit between Youbet.com and several entities associated with Virginia racing has been settled, resulting in a renewed effort by the advance deposit wagering company to become licensed in the state.

'Groundhog Day:' MEC Losses Mount

'Groundhog Day:' MEC Losses Mount

With one analyst tagging the proceedings "Groundhog Day," Magna Entertainment Corp. announced Feb. 29 more losses during a short, testy conference call that discussed year-end financials for 2007.

Congressman Criticizes Drug Policy

Congressman Criticizes Drug Policy

U.S. Rep. Ed Whitfield of Kentucky opened a Feb. 27 congressional hearing on the use of steroids in sports by claiming leaders of horse racing have repeatedly failed on promises to self-regulate medication issues.

Gulfstream Challenges Tribal 'Pact

Gulfstream Park has filed a federal lawsuit challenging a compact allowing tribal casinos to offer Class-III slots and banked card games in Florida, the latest attempt by the track to curb gaming competition from neighboring wagering facilities.

Curlin Foreclosure Motion Continued

Curlin Foreclosure Motion Continued

A Kentucky judge delayed ruling on the latest motion asking to foreclose on the company that owns a minority interest in reigning Horse of the Year Curlin Feb. 19, leaving in place, at least temporarily, the colt's clouded ownership structure.

NASDAQ: MEC Not in Compliance

NASDAQ: MEC Not in Compliance

Share of Magna Entertainment Corp. have traded under $1 for more than 30 straight days, prompting NASDAQ to notify the racing and gaming company it was out of compliance with marketplace rules and faces delisting.

Youbet to Close IRG

Youbet to Close IRG

Youbet.com will close its troubled off-shore telephone wagering entity International Racing Group, according to a Feb. 13 filing with the U.S. Securities and Exchange Commission.

CDI: Multi-Year Proposal for 'Cup

CDI: Multi-Year Proposal for 'Cup

Churchill Downs Inc. says it is sincerely interested in hosting the Breeders' Cup World Championships, so much so that it offered what it considered an "innovative" multi-year plan for regularly staging the annual event at its signature namesake track starting in 2009.

TOC: Partial Signal Consent Given

TOC: Partial Signal Consent Given

The Thoroughbred Owners of California has given limited consent to New York's off-track betting corporations to accept wagers on California races, but is holding firm on its stance against allowing wagers from the companies'out-of-state account deposit wagering customers.

Guild Bankruptcy Stays in Kentucky

Guild Bankruptcy Stays in Kentucky

A federal judge presiding over the Jockeys' Guild bankruptcy proceedings denied a request to move the case to California Jan. 29, saying Kentucky was the right place for the group to reorganize its operations.

Youbet Set for Illinois Wagering

Youbet Set for Illinois Wagering

Youbet.com has reached an exclusive agreement with four Illinois racetracks to offer advance deposit wagering access to residents of the state, a deal that is being called the first of its kind because of its revenue sharing program.

Florida Sets Limit on Auction Rules

The Florida Department of Agriculture and Consumer Services claims it doesn't have the power to regulate certain aspects of horse sales in the state, but is prepared to publish proposed rules it says are intended to prevent unfair or deceptive trade practices.

Curlin Foreclosure Motion Denied

The current but clouded ownership of 2007 Horse of the Year Curlin remained unchanged following a hearing in a Kentucky state court Jan. 22, with a judge overruling a motion for foreclosure on the minority interest owned by jailed attorneys Shirley Cunningham Jr. and William Gallion.

Indian Blessing: 2-Year-Old Filly

Indian Blessing: 2-Year-Old Filly

Indian Blessing was rewarded for an impressive 2007 campaign that included three victories in as many starts by winning the Eclipse Award for 2-Year-Old Filly Jan. 21 at the Beverly Wilshire Four Seasons Hotel in Beverly Hills, Calif.

CDI Venture: Derby/Oaks Packages

CDI Venture: Derby/Oaks Packages

Following the lead of other premier sporting events such as the Super Bowl, Churchill Downs Inc. has partnered up with a full-service travel agent to offer event packages for its two biggest days of racing, the Kentucky Derby (gr. I) Presented by Yum! Brands and the Kentucky Oaks (gr. I).

Wagering Down, Purses Up in 2007

Overall wagering declined slightly in the United States in 2007 while purses increased, according to "Thoroughbred Racing Economic Indicators" data released Jan. 15.

Jackson: Curlin Interest Protected

Jackson: Curlin Interest Protected

An attorney representing Stonestreet Stables, the majority owner of leading Horse of the Year candidate Curlin, emphasized Jan. 8 that a foreclosure motion being considered in a Kentucky state court involves only the minority interest in the star colt.

Youbet Shut Out From Gulfstream

Youbet Shut Out From Gulfstream

A contentious standoff over Gulfstream Park's racing signal has brought a chilling end to any warm fuzzies felt from the recent broad distribution deals emerging out of California, New Jersey, and New York.

IRG: Some Customers Being Paid

IRG: Some Customers Being Paid

A spokesman affiliated with Youbet.com says certain customers of subsidiary International Racing Group have received funds owed by the off-shore rebate shop, which is part of an investigation being conducted by the federal government.

HOPA Reorganizes Board, Focus

HOPA Reorganizes Board, Focus

The Horse Owners' Protective Association, an industry advocacy group that was formed in part by activist owner Jess Jackson, has announced a reorganization of its board and an expanded focus of its mission.

Most Popular Stories