Articles posted September 9, 2003

Headlines and features from the Thoroughbred industry

Gone West Filly Brings $3.8 Million; Keeneland Numbers Soar

Sheikh Mohammed of Dubai bought a Gone West filly for $3.8 million to top the Tuesday session of the Keeneland September yearling sale. For the two days, a total of 339 horses were sold for $131,250,000, a 30.5% increase over the $100,576,000 gross last year. The cumulative two-day average price of $387,168 reflected a gain of 45.1% and the median was up 35.3% to $230,000.

America TAB Claims Betting Service Pirated Signals

America TAB, an account-wagering service whose majority owners are Beulah Park and River Downs in Ohio, said it would pursue legal action after having discovered a betting service has been pirating live racing signals from its Web site.

Pilsudski,Tikkanen to Europe

Pilsudski and Tikkanen, a pair of Breeders' Cup Turf (gr. IT) winners in the 1990s who were sent to Japan for stallion duty, will be testing their siring skills on the Irish mainland.

Disposition of Development Rights

There are a number of governmental and charitable programs for the purchase of development rights. In these programs, farm owners sell their development rights by placing a perpetual easement on the land restricting the rights of current and future owners to develop the land. When development rights are sold for less than the reduction in fair value resulting from restricting development on the land, a charitable income tax deduction may be available.

Bill Seeks Takeout Hike to Cover Workers' Comp Costs

Legislation introduced by a California assemblyman would increase the pari-mutuel takeout on exotics wagers in Thoroughbred races by 0.5% to raise money to cover some workers' compensation costs. Quarter Horse and Standardbred takeout also would be increased to cover costs.

TVG Sues Youbet to Protect Voting Interest

TV Games Network, a shareholder in Youbet.com with an option to buy a majority interest in the company, has filed a lawsuit against Youbet for proposed changes to voting and term limits for its board of directors.

Louisiana Racino Appears to Impact Riverboat Casinos

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Slot machines at Louisiana Downs in Bossier City, La., appear to have impacted five riverboat casinos in the Shreveport/Bossier City market, according to July revenue reports filed with the Louisiana Gaming Control Board.

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