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.
A 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.
- 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., 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.
- 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.
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.
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.
- 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.
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.
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.
Presque Isle Downs & Casino near Erie, Pa., will begin its 100-night meet May 8 with more exposure for its signal.
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.
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.
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.
Rebates to wagering customers have become so widespread that the California Horse Racing Board is preparing to rescind its rule against the practice.
Two 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.
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.
Here's a fact: Some domestic advance deposit wagering outlets are openly offering cash rebates to customers that wager on California racing signals.
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.
Horsemen 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.
TwinSpires.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.
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.
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.
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.
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.
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.
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.
The Interstate Horseracing Act of 1978 is a double-edge sword. And the debate over whether it should be amended continues.
With a little more than two weeks remaining before the scheduled shutdown of the barn area at Beulah Park, management and horsemen still have no deal to continue live racing in January. But developments on a national level could quickly turn things around.
Winter racing at Beulah Park was plowed under and the spring/summer meet at River Downs went up in flames Nov. 21 when the Ohio State Racing Commission awarded 2009 dates that represent a loss of more than 160 days of Thoroughbred racing at the two tracks.
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.
Churchill Downs, for the second time, has cut purses for its fall meet. Among the casualties is the grade II Clark Handicap scheduled for Nov. 28.
One old betting axiom -- "shut out at the window" -- has taken on a whole new meaning when paired with a relatively new one in the racing industry lexicon: "signal wars."
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.
Handle at Calder Race Course's recently-concluded Calder meet fell 20% compared with 2007, according to the Florida Division of Pari-Mutuel Wagering.
Beulah Park and the Ohio Horsemen's Benevolent and Protective Association have "agreed to disagree" on contractual issues, but a temporary agreement has allowed the track to restore previous purse levels and export its signal.
Beulah Park, locked in a dispute that centers on revenue from advance deposit wagering, intends to resume live racing Oct. 22 but with greatly reduced purses and no export of its signal outside of Ohio.
After more than a year of discussion, the California Horse Racing Board has deferred any action on a proposed rule that would prohibit advance deposit wagering companies from making exclusive wagering agreements with Thoroughbred racetracks in the state.
California horsemen and Hollywood Park reached a tentative agreement Oct. 10 that allows the track to operate its 40-day autumn race meet, but a stalemate over host fees to be paid by account wagering companies for interstate bets remains unresolved.
Barring fruitful negotiations -- and that scenario currently doesn't appear possible -- it could be months before decisions on Thoroughbred racing dates in Ohio are made.
Support for reform of the revenue model for advance deposit wagering continues to increase, but as evidenced Sept. 30 during the International Simulcast Conference, it's looking more and more like a long-term project.
Prominent Thoroughbred Owner Mace Siegel, vice president of the Thoroughbred Owners of California, has given $100,000 to support the Thoroughbred Horsemen's Group and its efforts to protect live horse racing.
Mike Ziegler, most recently vice president and assistant general manager at Hollywood Park, has been named senior vice president of California-based Youbet.com, the company announced Sept. 16.
Calder Race Course has announced another major cut in purses and the cancellation of eight $100,000 stakes races. The track, in a release, said it was trimming overnight purses by 17% effective Sept. 18.
Early handicapping on signal distribution of the Breeders' Cup World Championships shows the prestigious event will be available to a wide variety of outlets and bettors, at first glance calming fears of any "signal wars" fallout evident in other revenue-sharing disputes involving advance deposit wagering.
Officials with two Ohio racetracks indicated they hope to offer Thoroughbred meets in 2009 and could be close to a deal with local horsemen on revenue from advance deposit wagering.
Magna Entertainment Corp., in a statement issued the evening of Aug. 28, acknowledged it is having discussions with the Thoroughbred Horsemen's Group on what company chairman Frank Stronach called "a new framework" for pari-mutuel economics.
Beulah Park and River Downs, two Ohio Thoroughbred tracks that race more than 200 dates combined, have requested only Quarter Horse dates for 2009, a track official said Aug. 18.
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