Applications from four companies seeking to offer Advance Deposit Wagering, or account wagering, in California will be considered by the California Horse Racing Board Thursday, Jan. 24. The regulations were approved by the state last Friday, allowing the CHRB to proceed with consideration of the applications from Autotote Enterprises Inc., Magna Entertainment Corporation, ODS Technologies (TVG), and Youbet.com. At the invitation of The Blood-Horse, each of the four license applicants was asked to provide a brief statement concerning their proposal for account wagering in California. Here is the response from Magna Entertainment:
Magna Entertainment Corp. will revive The Racing Network early next year, according to company chairman and founder Frank Stronach. The live racing network will likely be reintroduced when MEC launches its account wagering service in California.
Magna Entertainment has completed a deal to acquire an account wagering system, The Meadows harness track, four off-track betting parlors, and an 18% interest in The Racing Network for $53 million in cash, stock, and a promissory note.
Most Popular Stories
- Two IL Tracks File for Bankruptcy Protection
- British Racing Undertakes Education Program
- Undefeated Dortmund Wasn't Always So Popular
- Lukas Pointing 'Brandi' to Kentucky Oaks
- Golden Gate Winter/Spring Meet Starts Dec. 26
- Millionaire Kiri's Clown Euthanized at Age 25
- Baffert Quartet Faces Shared Belief in Malibu
- Secret Circle Aims for Season-Ending Win
- Intriguing Maidens in MD Juvenile Futurity
- Baltas, Pedroza Square Off at Los Alamitos