Citibank, which absorbed Cal Fed Bank with its acquisition of Golden State Bancorp last year, will be the new sponsor as Hollywood Park stages Citibank California Gold Rush IV on April 26.
The National Thoroughbred Racing Association, in a statement released June 21, said the reworked "Combatting Illegal Gambling Reform and Modernization Act" is "fundamentally flawed and unfair," and it also said it plans to discuss the ramifications of a move by Citibank to ban use of credit cards for online wagering.
Citibank, the nation's largest credit card company, is beginning a new system to block customers from using their plastic to make online wagers, New York attorney general Eliot Spitzer said June 14. The impact on companies that offer pari-mutuel wagering remains to be seen.
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