The Kentucky House Appropriations and Revenue Committee passed legislation authorizing a tax on advance deposit wagering Feb. 12, but it remains to be seen if all parties agree on the language in the measure.
Hollywood Casino at Penn National Race Course has launched a new eBet USA account wagering website with a multitude of new features and improvements.
Hollywood Casino at Penn National Race Course has launched a new eBet USA account wagering website with a multitude of new features and improvements
AmWest Entertainment has launched a player-driven wagering website called AmWager.com, the company announced Aug. 1.
Pari-mutuel handle at Del Mar continues to exceed 2011 levels, particularly on track, officials said July 29 after the second full week of racing.
Sportech launched several initiatives, including a Spanish-language wagering website for Camarero Race Track in Puerto Rico and advance deposit wagering through Evangeline Downs & Casino in Louisiana.
Legislation that would tax pari-mutuel wagers made by Kentucky residents through advance deposit wagering services was approved in committee Feb. 21 and heads to the House of Representatives.
Legislation that would impose an excise tax on advance deposit wagers made by Kentucky residents was introduced in the state House of Representatives Jan. 9.
- By Ron Mitchell
In a reversal from its long-standing interpretation, the U.S. Department of Justice has determined online gambling does not violate federal laws as long as it is conducted on non-sports.
The Kentucky General Assembly probably will consider legislation in 2012 that taxes bets made by Kentucky residents through advance deposit wagering systems to bolster the Kentucky Thoroughbred Development Fund.
Legislation that will expand advance deposit wagering in Louisiana was signed into law by Gov. Bobby Jindal June 30.
The account wagering operation owned by Churchill Downs Inc. avoided losing its license to operate in California by reaching agreement with tracks in the state before a deadline expired March 18.
- By Tom LaMarra
Churchill Downs Inc. and Daily Racing Form are at odds over the publishing company's launch of an advance deposit wagering system powered by XpressBet.com, which is owned by CDI rival MI Developments.
The Kentucky Senate passed a bill March 3 authorizing the licensing of advance deposit wagering companies and a requirement that they report pari-mutuel handle on Kentucky races.
Legislation calling for state licensing of advance deposit wagering companies advanced March 2 as Kentucky lawmakers try to get a handle on the fast-growing operations.
Racetracks and OTB corporations in New York are circulating a draft agreement to permit live video streaming of races over the Internet -- a move supporters said could help pick up some business.
Long-time racing industry executive Todd Bowker has been named general manager of Premier Turf Club, which operates a wagering platform that hubs through Oregon.
Churchill Downs Inc. reported net earnings of $3.7 million for the third quarter of 2010, up considerably from a net loss of $1.2 million for the same period in 2009.
Churchill Downs Inc. will terminate about 60 employees because of what it calls "redundancies" in its online betting operations.
A 5% cap imposed by the Illinois Racing Board on account wagering fees charged by out-of-state racetracks to send their signals to customers in Illinois has led to a significant downturn in wagering from those sources.
- By Tom LaMarra
The pari-mutuel industry is taking steps to avoid disruptions to advance deposit wagering stemming from the Unlawful Internet Gambling Enforcement Act of 2006.
- By Tom LaMarra
Youbet.com reported a small loss for the first three months of 2010, noting there would have been a similar gain if not for $1 million in expenses tied to its impending merger with Churchill Downs Inc.
Kentucky Senate President David Williams said April 27 issues in the horse racing and pari-mutuel industry are "complicated," but lawmakers intend to continue working on ways to strengthen the business.
Youbet.com shareholders voted to approve a merger agreement with Churchill Downs Inc., the company announced April 6.
Comcast, the broadcasting network of Philadelphia Park Casino & Racetrack's daily television show PhoneBet TV, has announced it will remove the show from its lineup effective March 31.
Churchill Downs Inc. has announced that the United States Justice Department has asked for more information related to its proposed $126.8-million deal to buy online rival Youbet.com.
- By Tom LaMarra
Horse racing officials said the industry bought some time with the announcement regulations tied to the Unlawful Internet Gambling Enforcement Act won't take effect until June 1, 2010.
- By Tom LaMarra
Churchill Downs Inc. is expanding its presence in the advance deposit wagering market with the purchase of Youbet.com for $126.8 million. United Tote is included in the proposed deal.
- By Tom LaMarra
TVG has reached an agreement with TrackNet Media Group that allows it to offer wagering on racing from Churchill Downs and Fair Grounds Race Course & Slots.
The president of Churchill Downs Inc. said he believes recent developments with the makeup of the Kentucky General Assembly are positive and could help lead to legalization of video lottery terminals at racetracks in the state.
Churchill Downs and Kentucky horsemen have reached a three-year agreement that sets purse payments, establishes purse supplements and ends a legal dispute that began in the spring of 2008.
Dawn Haden will replace Jeff True as president of United Tote, parent company Youbet.com has announced.
A shorter racing week helped Del Mar register gains in average daily attendance and pari-mutuel handle, the California racetrack reported Sept. 9, closing day of the meet.
The North Dakota Racing Commission announced significant interest by account wagering companies since the enactment of House Bill 1551 into law July 1. The new tax law significantly reduces the state tax levied on account wagering and removes the 4% tax assessment on the first 11 millions wagered.
- By Tom LaMarra
Youbet.com reported Aug. 12 a 3% increase in revenue for the second quarter of 2009 but a 27.9% decrease in net income.
TVG and Penn National Gaming Inc. have reached a two-year deal in which the network will broadcast and offer wagering on races from tracks owned by the company. TVG began broadcasting PNGI races Aug. 1.
At the urging of the New York State Racing and Wagering Board, the New York Racing Association July 29 -- opening day of the Saratoga meet--authorized restoration of its televised signal to the in-home distribution network of Nassau Regional Off-Track Betting Corp.
TVG announced June 8 an agreement with TrackNet Media Group that allows its affiliated Web sites -- TwinSpires.com and XpressBet.com -- to accept online wagers on TVG-exclusive racetracks.
The New Jersey racing scene shifts to Monmouth Park May 9 after kicking off with a six-day Atlantic City Race Course meet at which total handle quadrupled.
TVG said April 24 it will make good on winning wagers that were canceled due to a now-resolved dispute the horse racing network had with Hollywood Park.
Youbet.com has signed three agreements that will enable its members to watch and wager on racing from South Africa, Sweden, additional tracks in the United Kingdom, and Puerto Rico, providing nearly 24-hour-a-day racing coverage.
A Kentucky lawmaker has introduced legislation that would impose a 3.5% tax on out-of-state advance deposit wagering companies that take bets from Kentucky residents.
Advance deposit wagering outlets owned by TrackNet Media, TwinSpires.com and XpressBet, as well as Youbet.com, will be taking bets on the upcoming 2009 Oaklawn racing season under an agreement announced Dec. 31.
After running the longest Thoroughbred meet in its 12-year history at 45 days, officials with Colonial Downs Dec. 17 proposed a 25-day meet in 2009.
An impasse in California over fee rates for interstate advance deposit wagering that has had a negative impact on Hollywood Park's fall meet ended Nov. 21 with the announcement that one-year deals with the four licensed providers in the state have been reached.
In a high-stakes "game of chicken," the California Horse Racing Board pushed account wagering a little closer to the edge Nov. 18 when it declined to renew the licenses of the state's four Internet and telephone bet companies.
The Bush administration issued a final regulation Nov. 12 aimed at banning Internet gambling, drawing criticism from Democrats who said it would burden financial companies.
About 1,000 Thoroughbreds could be forced to leave the grounds of Beulah Park by the end of this year if the racetrack and horsemen's association don't have a deal for advance deposit wagering revenue in place by Nov. 21, the day the Ohio State Racing Commission will award racing dates for 2009.
Out-of-state account wagering bettors remained locked out of Hollywood Park races as a contract dispute between the Thoroughbred Owners of California and the four advance deposit wagering companies showed no sign of resolution Oct. 30, the second day of the fall meet.
A stalemate between California horsemen and advance deposit wagering companies kept Hollywood Park's out-of-state signal unavailable on opening day of the track's fall season Oct. 29.
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