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NTRA: Balanced Budget, Board Changes in Works

NTRA: Balanced Budget, Board Changes in Works

Operating revenue for the National Thoroughbred Racing Association was down 45.2% in 2009 from 2008, but expenses were down 47.5% year-to-year, leading the organization to suggest it should have a balanced budget for 2010.

CDI, Youbet.com Merger Date Extended

CDI, Youbet.com Merger Date Extended

CDI and Youbet.com extend the outside date for termination of their merger agreement, though merger still expected to close in second quarter of 2010

Youbet.com Reports Small First-Quarter Loss

Youbet.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.

'Undercover' Churchill COO Gets TV Time

Churchill Downs Inc. chief operating officer Bill Carstanjen took part in the TV show Undercover Boss. The episode, filmed at Arlington Park and Calder Race Course last year, will air March 14.

CDI 'Well-Positioned' to Make Other Deals

CDI 'Well-Positioned' to Make Other Deals

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.

CDI's Evans: Some Progress in Kentucky

The president of Churchill Downs Inc. said he believes recent developments with the makeup of the Kentucky General Assembly are positive and could help lead to legalization of video lottery terminals at racetracks in the state.

Churchill Downs to Install Permanent Lights

Churchill Downs to Install Permanent Lights

Based on a review of its experimental three night racing cards during the spring meet, Churchill Downs Inc. announced Sept. 28 it will install permanent lights at its flagship racetrack in Louisville.

Slots Revenue Agreement OK'd for Calder

Slots Revenue Agreement OK'd for Calder

Churchill Downs Inc. and the Florida Thoroughbred Breeders and Owners Association announced Sept. 10 that they have reached an agreement on a contract for future slot machine revenue at CDI-owned Calder Race Course.

Calder Slots Deal Signed by CDI, FTBOA

Churchill Downs Inc. and the Florida Thoroughbred Breeders and Owners Association announced on Sept. 10 that they have reached an agreement on a contract for future slot machine revenue at CDI-owned Calder Race Course.

Churchill Makes Deep Cut in Fall Stakes

Churchill Makes Deep Cut in Fall Stakes

Blaming a decline in purse money earned earned from wagering sources during its 2008 spring meet, Churchill Downs Racetrack has slashed its stakes program for the upcoming fall meet by $975,000 through purse reductions in 11 stakes races and the elimination of two others.

MEC Working With THG on Pricing Model

MEC Working With THG on Pricing Model

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.

CDI, Florida Horsemen Still at Impasse

CDI, Florida Horsemen Still at Impasse

With two weeks left before Calder Race Course's July 12 Summit of Speed, Churchill Downs Inc. and the Florida Horsemen's Benevolent and Protective Association remain deadlocked in contract talks for the Miami Gardens, Fla., track.

Evans: CDI Committed to End ADW Dispute

Evans: CDI Committed to End ADW Dispute

A leading executive of Churchill Downs Inc. told a gathering of shareholders June 19 that he didn't know when a nasty revenue-sharing dispute with horsemen would be resolved, but promised the company would do its part in reaching a satisfactory conclusion for all.

Eight Belles to Be Interred at Museum

Eight Belles to Be Interred at Museum

Eight Belles, who finished second in the Kentucky Derby Presented by Yum! Brands (gr. I) but suffered a catastrophic injury moments after the race, will be honored by Churchill Downs Inc. through a series of charitable contributions and initiatives, including the interment of her remains at the Kentucky Derby Museum.

Horsemen: CDI Owes Wagering Fees, Purses

Horsemen: CDI Owes Wagering Fees, Purses

In a flurry of responses filed recently in federal court, Kentucky horsemen claim Churchill Downs Inc. owes purse funds upwards to $3 million in unpaid fees from wagering revenues, and have asked a judge to force the racetrack company to pay out funds lost from a 20% purse cut.

Stakes Purses to be Trimmed at Calder

Stakes Purses to be Trimmed at Calder

Calder Race Course announced May 9 that it will cut purses for eight upcoming stakes races, including the July 12 Summit of Speed card, blaming a continuing dispute with the Florida horsemen's association.

Purse Cuts Planned at CDI-Owned Tracks

Purse Cuts Planned at CDI-Owned Tracks

A Churchill Downs Inc. official said May 7 purses at Churchill Downs in Louisville, Ky., could be cut the week of May 11, while Calder Race Course in South Florida could face another reduction in purses.

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