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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.
Thursday, March 03, 2011
During an event with political overtones, Churchill Downs Inc. introduced its renovated TwinSpires.com offices in Lexington Feb. 15 with a message: We'll invest in Kentucky as long as it remains horse capital of the world.
Tuesday, February 15, 2011Satisfied that owners were getting as much as possible for purses from a recent state increase in takeout, the California Horse Racing Board granted three advance deposit wagering companies one-year extensions Jan. 20.
Thursday, January 20, 2011Racetracks 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.
Friday, December 17, 2010
Gulfstream Park on Dec. 16 announced its 2011 wagering menu that will include its first Pick 5, with a 50-cent minimum bet, and a major reduction of its Pick 6 minimum bet from $2 to 10 cents.
Thursday, December 16, 2010Temporary license extensions of 30 days to the state's four advance deposit wagering companies were approved by the California Horse Racing Board Dec. 16.
Thursday, December 16, 2010A Nov. 19 discussion of proposed regulations for advance deposit wagering in Kentucky drew calls for disclosure of revenue and concerns over the impact ADW is having on purses in the state.
Friday, November 19, 2010Long-time racing industry executive Todd Bowker has been named general manager of Premier Turf Club, which operates a wagering platform that hubs through Oregon.
Wednesday, November 17, 2010
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.
Thursday, November 04, 2010
Churchill Downs Inc. will terminate about 60 employees because of what it calls "redundancies" in its online betting operations.
Tuesday, October 05, 2010
Del Mar reported an increase in average daily attendance and decrease in average daily handle for the first five weeks of its 2010 meet.
Monday, August 23, 2010A 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.
Thursday, August 05, 2010
A group of creditors involved in the NYCOTB bankruptcy proceeding has suggested a number of changes, including a 1% surcharge on wagers, according to a June document.
Tuesday, July 27, 2010Sandy Downs in Idaho is experimenting with live video streaming and online wagering through IdaBet.com, the only advance deposit wagering system based in Idaho.
Thursday, July 15, 2010The pari-mutuel industry is taking steps to avoid disruptions to advance deposit wagering stemming from the Unlawful Internet Gambling Enforcement Act of 2006.
Saturday, June 05, 2010
Churchill Downs Inc. and MI Developments said May 14 they will dissolve TrackNet Media Group, a company formed to address signal pricing and distribution.
Friday, May 14, 2010Youbet.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.
Friday, May 07, 2010
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.
Tuesday, April 27, 2010
Youbet.com shareholders voted to approve a merger agreement with Churchill Downs Inc., the company announced April 6.
Wednesday, April 07, 2010
Legislation authorizing Instant Racing, a tax on advance deposit wagering, and a reduction in the pari-mutuel excise tax sailed through the Kentucky Senate Committee on State and Local Government March 11.
Thursday, March 11, 2010
Satish Sanan and Breeders' Cup backed away from statements made March 2 that indicated the organization is close to picking permanent host site.
Wednesday, March 03, 2010
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.
Tuesday, January 26, 2010A state task force is recommending a series of changes in the law to address new competition for dwindling betting dollars and repair a situation that has created a damaging war in New York racing.
Monday, January 25, 2010Horse 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.
Friday, November 27, 2009
Churchill Downs Inc., which announced Nov. 11 plans to purchase Youbet.com and its United Tote subsidiary for about $126.8 million, is on the lookout for other prospective purchases in the area of Internet wagering.
Friday, November 13, 2009
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.
Wednesday, November 11, 2009
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.
Thursday, September 10, 2009
Turfway Park has reached agreements making its races available to all major advance deposit wagering platforms beginning with the 2009 fall meet and running through the end of the 2010 winter/spring meet, track president Robert N. Elliston announced Sept. 7.
Monday, September 07, 2009
Youbet.com reported Aug. 12 a 3% increase in revenue for the second quarter of 2009 but a 27.9% decrease in net income.
Thursday, August 13, 2009
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.
Wednesday, August 05, 2009TVG 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.
Monday, June 08, 2009
Wagering was up on several segments of the Preakness day card, according to data released May 18 by Maryland Jockey Club officials, fueled in part by the showdown between Kentucky Derby Presented By Yum! Brands (gr. I) winner Mine That Bird and Kentucky Oaks (gr. I) victress Rachel Alexandra.
Monday, May 18, 2009
Presque Isle Downs & Casino near Erie, Pa., will begin its 100-night meet May 8 with more exposure for its signal.
Friday, May 08, 2009
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.
Friday, April 24, 2009Youbet.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.
Friday, March 27, 2009
The multi-year quest for a stable funding source for the Kentucky Horse Racing Commission took another turn March 10 when legislation to increase the powers of the KHRC unanimously passed a Senate committee. Whether the bill is approved--and whether the commission gets a new funding source--could be determined on the Senate floor.
Tuesday, March 10, 2009
Legislation linked to the long-delayed approval of the California state budget Feb. 20 could mean up to an additional $32 million a year for the state's beleaguered horse racing industry.
Monday, March 02, 2009
Rebates to wagering customers have become so widespread that the California Horse Racing Board is preparing to rescind its rule against the practice.
Thursday, February 26, 2009Two brothers have been charged by the U.S. District Court in Nevada in connection with a U.S. Attorney's Office investigation that included the former offshore rebate shop International Racing Group.
Wednesday, February 25, 2009A 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.
Tuesday, February 24, 2009Here's a fact: Some domestic advance deposit wagering outlets are openly offering cash rebates to customers that wager on California racing signals.
Wednesday, February 04, 2009
British-based Betfair Group, which announced Jan. 27 it had completed its acquisition of TV Games Network from Macrovision for $50 million in cash consideration, is hopeful its new holding helps it make inroads in the United States market, which it has courted for years.
Tuesday, February 03, 2009Horsemen from all parts of Colorado rallied at the state capitol Jan. 20 to support efforts by the horse industry to pass legislation designed to revitalize the economics of the industry in Colorado through advance deposit wagering and Instant Racing.
Friday, January 23, 2009TwinSpires.com, the official advance deposit wagering service for Churchill Downs Inc., will provide an inside look at the DRF/NTRA National Handicapping Championship from Red Rock Casino in Las Vegas by providing online video coverage of the event throughout the Jan. 23-24.
Friday, January 23, 2009
Churchill Downs has announced it has come to terms with horsemen over advance deposit wagering splits for the 2009 spring meeting at the Louisville, Ky., racetrack. The meet begins April 25.
Thursday, January 01, 2009Advance 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.
Wednesday, December 31, 2008
The Florida Horsemen's Benevolent and Protective Association said Dec. 22 it has reached agreements on advance deposit wagering contracts with Calder Race Course and Gulfstream Park.
Monday, December 22, 2008
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.
Thursday, December 18, 2008
Racetrack management and horsemen in Ohio struck an agreement Dec. 16 that will reinstate more than 160 Thoroughbred racing dates at Beulah Park and River Downs in 2009, and save more than 1,000 horses at Beulah Park from being forced out of the track's stable area by Dec. 27.
Wednesday, December 17, 2008
With little discussion, the California Horse Racing Board unanimously approved license renewals for four advance deposit wagering companies doing business in the state for a one-year period.
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