Indiana Downs is weighing its options in the wake of a decision by Churchill Downs Inc. to pull its racing signals from an Indiana Downs-owned off-track wagering parlor.
Churchill Downs Inc. reported net earnings of $29.3 million in the second quarter, a decrease of 12% compared with net earnings of $33.4 million over the same period last year. Those figures break down to $2.11 per share and $2.46 per share, respectively.
Churchill Downs reported an increase in net revenues and a decrease in net earnings from continuing operations at the close of the second quarter June 30.
Fair Grounds Race Course, in conjunction with the New Orleans Council on Aging, Lowe's and the City of New Orleans, announced the launch of a program to assist local senior citizens in rebuilding their homes July 18.
Churchill Downs Inc. has acquired certain assets of AmericaTAB, Bloodstock Research Information Services, and the Thoroughbred Sports Network, but officials with the Louisville, Ky.-based company said it will be business as usual at the outset.
Kentucky racetracks and horsemen's groups will have to hammer out a new agreement on source-market fees now that Churchill Downs Inc. no longer has an exclusive agreement with account wagering provider TVG.
The financial results of the two biggest racing days for Churchill Downs Inc. show the company's new revenue model for account wagering can be successful, a company official said.
Empire Racing Associates has released the names of a team of racing-operations professionals, many from Churchill Downs Inc. and Magna Entertainment Corp., that will lead its racing transition team should Empire Racing be awarded the New York Thoroughbred racing franchise.
Louisiana operations helped Churchill Downs Inc. narrow its first-quarter loss, the company reported May 8.
Youbet.com won't be offering Derby wagering this year, but its customers will have a shot at $1 million in a contest tied to the two marquee races at Churchill Downs this Friday and Saturday.
A new advance deposit wagering service, TwinSpires, is prepared to launch on May 2, accepting wagers on the 2007 spring meet at Churchill Downs racetrack in time for the 133rd renewals of the Kentucky Derby Presented by Yum! Brands (gr. I) on May 5 and the Kentucky Oaks (gr. I) a day earlier, Churchill Downs Inc., announced.
TVG has a new distribution agreement with DIRECTV that will make the network available to an additional eight million subscribers of the satellite service.
Churchill Downs' new account wagering service, TwinSpires, will not be open for business in time for the opening of the 2007 spring meet on Saturday, Churchill Downs Inc. announced April 27.
A decision by the AmericaTAB account wagering consortium to join TrackNet Media Group is a sign of support for efforts by Churchill Downs Inc. and Magna Entertainment Corp. to end exclusive contracts, an official said.
TrackNet Media Group will be a content provider for AmericaTAB under an agreement announced April 18.
An application by twinspires.com, the new Churchill Downs Inc.-owned account wagering service, was approved by the Virginia Racing Commission.
Though questions persist about TrackNet Media Group, the entity formed by Churchill Downs Inc. and Magna Entertainment Corp. to buy and sell simulcast signals, it has generated an initial positive response from one of the country's major horsemen's groups.
Churchill Downs Inc. has received approval to operate an account wagering hub in Oregon and plans to have its new betting service, twinspires.com, operational before the spring meet begins at Churchill Downs April 28.
HRTV will be broadcast on Racing World in Great Britain and Ireland five days a week beginning March 28.
Tom Aronson, one of the architects of the TVG racing network business plan in the late 1990s, has been hired as vice president of Churchill Downs Inc. to focus on development and innovation of the product.
Account wagering provider Youbet.com said it applauds the partnership between Churchill Downs Inc. and Magna Entertainment Corp. because it should assist in wagering growth.
- By Ray Paulick
By Ray Paulick -- One of the interesting things about Thoroughbred racing is the penchant so many people have of knocking something into oblivion, and later complaining about the fact it's gone. Take TVG, for example.
TVG announced Feb. 15 that it has discontinued negotiations on extending its television and advance deposit wagering contract with Churchill Downs Inc.
Churchill Downs Inc., under the leadership of chief executive officer Bob Evans, is forming a team that will address technology-related issues for the racetrack company.
Churchill Downs Inc. reported Tuesday that earnings tumbled in the third quarter, as the year-ago period benefited from a hefty gain on the sale of assets.
The new chief executive officer of Churchill Downs Inc. believes horse racing has an opportunity to move to another level if the industry embraces a new way of thinking.
Fair Grounds Race Course reopens for training Thursday for the first time since the New Orleans track was devastated during Hurricane Katrina and its aftermath 14 months ago.
Churchill Downs will accept entries for races during its upcoming Oct. 29-Nov. 25 Fall Meet and subsequent race meets three days in advance of those races.
Ron Geary, who is expected to close on his purchase of Ellis Park in late September, will discuss his vision for the western Kentucky racetrack at an Oct. 2 meeting of the Louisville Thoroughbred Club.
Churchill Downs Inc. exercised its contractual rights in regard to an account wagering dispute in Illinois by revoking permission for TVG sub-licensees to take bets on the Arlington Park signal, a company official said a day after the Arlington meet ended. Meanwhile, it remains unclear whether the Hawthorne Race Course signal would be available through TVG or other account wagering outlets.
Two Churchill Downs Inc.-owned racetracks - Churchill Downs and Fair Grounds - have named Ben Huffman and Sam Abbey as their respective racing secretaries.
Magna Entertainment Corp. chairman Frank Stronach indicated his company hopes to be involved in New York racing on some level, and that it also is working with Churchill Downs Inc. on projects that will benefit the two companies and the industry at large.
Kentucky racing in the summer months hasn't gotten much attention over the years, but that could change if Ron Geary has his way.
One day after being named chief executive officer and president of Churchill Downs Inc., Robert Evans told a group of assembled media he is ready to lead the Louisville, Ky.-based racetrack company into the future.
As the search for his successor continues, Churchill Downs Inc. president and chief executive officer Tom Meeker presided over his 22nd and final shareholders' meeting Thursday, painting a positive picture of the racetrack operating company's future while also accepting plaudits from fellow directors and company employees.
A handicapper who wins a Churchill Downs Inc. qualifying tournament and the 2007 Daily Racing Form/NTRA National Handicapping Championship will win a $1-million bonus.
Industry associations have joined the thousands of racing fans rallying around Barbaro, who was pulled up in the May 20 Preakness Stakes (gr. I) and underwent surgery on his right hind leg the following day.
Churchill Downs Inc. has restructured some of the company's corporate staff, resulting in the elimination of several positions and consolidation of the corporate and racetrack communications and marketing departments.
Churchill Downs Inc. officials are encouraged by a rebound of their Louisiana operations in the wake of Hurricane Katrina, but it appears slot machines at Fair Grounds won't be operating until mid-2008 at the earliest.
New York City came to Louisville, Ky.--and vice versa--the morning of May 2 when the opening bell of the NASDAQ stock exchange rang from a fourth-floor porch at Churchill Downs to celebrate Derby week.
The Louisiana State Racing Commission unanimously approved Fair Grounds' application to host an 81-day meet in 2006-07.
The Thoroughbred Racing Associations' members announced April 24 pledges of more than $250,000 in early commitment funds to aid the nation's permanently disabled jockeys.
Fair Grounds has applied to the Louisiana State Racing Commission to host an 81-day meet in 2006-2007 at its facility in New Orleans, president and general manager Randy Soth said April 14.
Churchill Downs Inc., Magna Entertainment Corp., and Racing UK announced April 7 that the three organizations have reached agreement to partner in a subscription television channel that will broadcast races from CDI and MEC racetracks, as well as other North American and international racetracks, into the United Kingdom and Ireland.
Expansion of account wagering and improvements to existing platforms are a chief objective of Churchill Downs Inc., whose chief executive officer, Tom Meeker, indicated change is needed to generate more industry revenue and maintain or expand the customer base.
Legislation to be considered by the Indiana Senate would mandate that incoming simulcasts be made available to all wagering outlets in the state or not be available at all. The bill was reported out of the Senate Committee on Homeland Security, Utilities, and Public Policy Jan. 24.
Though repairs to damage from a Nov. 6 tornado won't be completed by summer, Ellis Park in western Kentucky will conduct its 36-day meet in 2006, parent company Churchill Downs Inc. announced Dec. 28.
Churchill Downs Inc. announced Dec. 12 that Clifford C. Goodrich would leave his position as president of Arlington Park, the company's racetrack in Arlington Heights, Ill., in order to pursue other professional and personal interests.
homas H. Meeker, president and chief executive officer of Churchill Downs Inc., has been named "Business Leader of the Year" for a large business by the Louisville, Ky.-based Business First publication in its inaugural "Business of the Year" Awards.
Racetrack officials met with the new leadership of the Jockeys' Guild Dec. 1 to discuss "issues of mutual concern," according to a Guild release.
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