A federal appeals court has overturned a $164.5 million judgment that favored Calumet Farm owner Henryk de Kwiatkowski.
Scientific Games, the parent company to Autotote, announced Friday it has filed the necessary paperwork for an offering of 12,500,000 shares of Class A common stock.
Magna Entertainment stock hit a new 52-week high of $10.25 Friday morning. The Canadian racing conglomerate stock price has been on a steady march upward since mid-January when it was trading for around $7 per share. Churchill Downs and Penn National keep trading at a premium on the heels of a Bear Stearns report on account wagering.
Account wagering offers Thoroughbred racing its best opportunity yet for real industrywide growth, according to a new report from Bear, Stearns, & Co. The 128-page report analyzes the regulatory and technological environment governing account wagering, and offers suggestions about what changes must occur for account wagering to expand.
New technology is giving the horse racing industry its greatest potential to convert millions of new fans and substantially increase profits, according to a recently released analysis by the Bear Stearns investment bank.
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