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The MidAtlantic Cooperative, which represents 19 racetracks and their off-track betting facilities and account wagering systems, will pull the plug on simulcasts from Belmont Park effective Sept. 15 having failed to strike a deal with the New York Racing Association.
Tuesday, September 14, 2004Purses for July at Philadelphia Park averaged just under $120,000 a day, but in a year, they will be almost twice that amount, with much more growth expected when revenue from slot machines begins pouring in.
Friday, August 27, 2004Magna Entertainment Corp. is still willing to partner with the New York Racing Association, but it is also pursuing its own move into the New York marketplace in case NYRA isn't serious about a merger, MEC president Jim McAlpine said.
Wednesday, August 04, 2004The New Jersey Racing Commission expects to consider a "participation agreement" for distribution of revenue from account and off-track wagering at an Aug. 18 meeting at which the stakeholders are expected to apply for a license to begin account betting.
Tuesday, July 20, 2004Colonial Downs announced July 13 it received a license from the Virginia Racing Commission and immediately began its "Colonial Downs PhoneBet" account wagering operation. It is the only licensed operation in the state.
Thursday, July 15, 2004Churchill Downs Inc. president Tom Meeker said June 17 the company is in an excellent position for future growth and, though CDI intends to do its part, industry factions must work together to support and build the necessary infrastructure.
Thursday, June 17, 2004TVG and Emerald Downs said June 10 they have signed a multi-year agreement for the exclusive television and account wagering rights to Emerald Downs' races.
Thursday, June 10, 2004The New Jersey Senate Wagering, Tourism, and Historic Preservation Committee on June 7 approved a bill that would permit the state to lease Monmouth Park and Meadowlands, two racetracks operated by the New Jersey Sports and Exposition Authority.
Tuesday, June 08, 2004A dispute over account wagering in Virginian could lead to a lawsuit against Colonial Downs, the Richmond Times-Dispatch reported May 19.
Wednesday, May 19, 2004The five account wagering hubs in Oregon handled $179,546,773 in the first quarter of 2004, up 13.16% from the first quarter of 2003. Several of the companies had record first quarters.
Friday, May 07, 2004TV Games Network rolled out new graphics and features, which began appearing in conjunction with the opening of Hollywood Park's spring/summer season, at the April 22 California Horse Racing Board meeting. It also announced an increase in the number of viewers and a slight shift toward experienced racing fans.
Friday, April 23, 2004Washington horseplayers will be able to bet by phone or over the Internet under a new law signed by Gov. Gary Locke on Thursday.
Friday, April 02, 2004The Kentucky Senate March 26 passed three-prong legislation that authorizes creation of an international wagering hub, paves the way for live Quarter Horse racing, and gives Standardbred racetracks a tax break.
Friday, March 26, 2004Legislation to authorize wagering hubs in Kentucky was introduced in the state Senate in early March and is moving through the legislative process as an amendment to a bill that would permit artificially inseminated horses to race in Kentucky. A hub measure was introduced in 2002 but it failed to garner support.
Thursday, March 25, 2004Attheraces, the racing channel in Great Britain that is scheduled to go off the air March 29, said it plans to continue broadcasting United States races in the evening and would continue to negotiate with British racecourses to carry their product.
Wednesday, March 24, 2004Five account-wagering hubs in Oregon handled $226.97 million in the fourth quarter of 2003, up $75.72 million from the same period in 2002, according to Oregon Racing Commission statistics.
Tuesday, March 23, 2004A bill that would allow account wagering by residents of Washington State passed the state's House of Representatives on March 4 79-17 and yesterday passed the Senate 38-10. Senate Bill 6281 now heads to Gov. Gary Locke for his signature.
Tuesday, March 09, 2004The Ohio Horsemen's Benevolent and Protective Association and Beulah Park have struck a deal on revenue splits for account wagering, but the chief negotiator for the horsemen's group called it a big-picture issue that needs attention and leadership on the national level.
Monday, March 08, 2004The president of a growing account wagering service said handle declines at major winter meets aren't good for racing, and he suggested it's time for a "fragmented industry" to move forward in the best interests of its customers, racetracks, and horsemen.
Monday, March 08, 2004Wagering through TV Games Network rose 34% in 2003 to $213,725,181 and television distribution of the network increased by 45%, the company reported Thursday.
Thursday, March 04, 2004Youbet.com has agreed to pay TV Games Network $725,000 and withdraw its proposed staggered board and supermajority voting proxy material in exchange for TVG dropping all pending litigation and related arbitration.
Tuesday, February 24, 2004The Ohio State Racing Commission Feb. 19 deferred action on a request from the Ohio Horsemen's Benevolent and Protective Association to withhold Thoroughbred signals that originate in the state from account wagering companies. It scheduled a hearing for March 1 to further discuss the issue.
Thursday, February 19, 2004Youbet.com reported Thursday the fourth quarter of 2003 provided the eight straight quarter of net revenue growth for the company, though it continues to operate at a loss. Youbet also generated year-over-year increases in handle, net revenue, and earnings before taxes, depreciation, and amortization (EBITDA).
Thursday, February 12, 2004Mark Wilson has resigned as president and chief executive officer of the TV Games Network but will take over as chairman of the company, Gemstar-TV Guide announced Feb. 4.
Thursday, February 05, 2004Magna Entertainment Corp.'s top executive admitted the company has taken plenty of heat for recent business decisions tied to account wagering and rebate shops, but he indicated the racing conglomerate wouldn't apologize for a strategy he said is designed to benefit the industry in the long term.
Monday, February 02, 2004Handle through the AmericaTab family of account-wagering services was up almost 90% the first six days of January even though the services weren't permitted to offer betting on Magna Entertainment Corp. racetracks, including premier meets at Gulfstream Park and Santa Anita Park.
Wednesday, January 07, 2004Handle through the AmericaTab family of account-wagering services was up almost 90% the first six days of January even though the services weren't permitted to offer betting on Magna Entertainment Corp. racetracks, including premier meets at Gulfstream Park and Santa Anita Park.
Wednesday, January 07, 2004Youbet.com said Dec. 30 it hopes to strike a deal with Magna Entertainment Corp. to offer wagering on all the company's racetracks.
Wednesday, December 31, 2003Youbet.com said Dec. 30 it hopes to strike a deal with Magna Entertainment Corp. to offer wagering on all the company's racetracks.
Wednesday, December 31, 2003AmericaTab has launched a new wireless wagering service that will be offered free to customers with any affiliate account. AmericaTab has launched the product with its "On the Go" label.
Wednesday, December 31, 2003Magna Entertainment Corp. initiated restrictions upon or pulled its live racing signals from most account-wagering services effective Dec. 26, and at least one operator isn't happy about the developments.
Tuesday, December 30, 2003A two-month shutdown of Beulah Park was averted Dec. 18 when the Ohio Horsemen's Benevolent and Protective Association and track management agreed to at least negotiate revenue splits from account wagering. If no deal is in place by Feb. 10, horsemen will withdraw permission for Ohio's live racing product to be sent to account-betting providers.
Friday, December 19, 2003The National Thoroughbred Racing Association's operation of wagering hub in Oregon met with much resistance from some of its member racetracks at the beginning of the decade, but one thing's for certain: The concept has caught on, even though the NTRA is no longer a player.
Friday, November 07, 2003As racing interests in California continue to study pari-mutuel wagering as it relates to out-of-state hubs and offshore operations, prices paid for signals are more and more becoming the focal point.
Wednesday, October 22, 2003The five account-wagering companies that have multi-jurisdictional tote hubs in Oregon reported gains in handle in the second quarter of 2003 compared with the first quarter of this year. Total handle through the five hubs was $222.21 million, up about 150% from the second quarter of 2002.
Friday, August 29, 2003Racing fans in Virginia probably will have more outlets at which to place wagers in the coming months. New off-track betting parlors and account wagering are expected to increase handle in Virginia, and ultimately lead to more racing days at Colonial Downs.
Thursday, June 26, 2003Broad gaming and pari-mutuel legislation that passed the Nevada Senate and Assembly allows for an expansion of account wagering in the state.
Tuesday, June 10, 2003The National Thoroughbred Racing Association continues to examine a vehicle to bring back the Great State Challenge later this year, and also is working with Visa in regard to a policy change that has hindered state-sanctioned account wagering in the United States.
Thursday, June 05, 2003Account-wagering providers and others in the pari-mutuel industry are working behind the scenes to remedy a situation that has kept bettors with certain credit cards from making legal Internet wagers.
Thursday, May 29, 2003HipodromoEnLinea.com, designed to bring online pari-mutuel wagering to Spanish-speaking people in the United States, has joined the list of affiliates in the AmericaTab program.
Wednesday, May 28, 2003Legislation to allow electronic gaming at Michigan racetracks was approved by the state House of Representatives May 22, just two days after the release of a poll that indicated the public overwhelmingly disapproves of the prospect.
Friday, May 23, 2003AmericaTab and its affiliates set a one-month handle record in March with $8.3 million in wagers, the company reported April 10. It was the second consecutive month of record-breaking handle.
Thursday, April 10, 2003California Horse Racing Board chairman Roger Licht said he favors changing state law to allow the pari-mutuel industry to pay rebates to its customers.
Monday, March 17, 2003California regulators, in an effort to stop out-of-state account wagering operators from taking bets from state residents, have excluded the Coeur d'Alene Casino in Idaho from importing upcoming meets at Bay Meadows and Hollywood Park. The manager of the casino said the situation would be resolved.
Tuesday, March 04, 2003While many Virginia horsemen were digging out from the President's Day weekend snowstorm, a bill to rework the Virginia Racing Act cleared the floor of the House of Delegates by a 54-42 vote.
Wednesday, February 19, 2003Account wagering through several hubs based in Oregon continued to ramp up in the fourth quarter of 2002, according to figures released by the Oregon Racing Commission.
Wednesday, February 12, 2003Racetracks and off-track betting parlors in New York must begin a program that lets problem gamblers voluntarily shut themselves out from betting, the state Racing and Wagering Board ordered Feb. 4.
Tuesday, February 04, 2003Nearing the end of the first year of account wagering in California, the president of the Thoroughbred Owners of California has expressed frustration with the lack of television exposure so far.
Thursday, December 19, 2002After months of legal wrangling and negotiations, the New Jersey Sports and Exposition Authority is close to presenting the New Jersey Racing Commission with participation agreements between itself and two other racing companies in the state in regard to account and off-track wagering.
Friday, December 13, 2002A record $46.3 million was wagered through Youbet.com Inc. during the third quarter ended September 30, helping to narrow the online wagering company's overall losses to $2.1 million.
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