Wagering was up on several segments of the Preakness day card, according to data released May 18 by Maryland Jockey Club officials, fueled in part by the showdown between Kentucky Derby Presented By Yum! Brands (gr. I) winner Mine That Bird and Kentucky Oaks (gr. I) victress Rachel Alexandra.
Magna Entertainment Corp. chairman Frank Stronach criticized certain hedge-fund investors for putting "unwarranted" pressure on the bankrupt racetrack company's parent entity, suggesting May 8 that those antagonists could start their own company if they didn't like what they saw.
TVG said April 24 it will make good on winning wagers that were canceled due to a now-resolved dispute the horse racing network had with Hollywood Park.
One day after reporting Magna Entertainment Corp. would not release an annual report due to its ongoing bankruptcy proceedings, controlling shareholder MI Developments released data showing MEC posted its highest-ever annual loss in its brief history, though it's not exactly clear what the final tally is.
Prominent trainer Scott Lake has filed for Chapter 11 bankruptcy reorganization in a New York federal court, according to recent filings.
Several assets owned by Magna Entertainment Corp. will apparently be offered separately for sale from a $195-million "stalking horse bid" its parent company has tendered in relation to MEC's Chapter 11 bankruptcy filing March 5.
With Magna Entertainment Corp. reportedly in financial peril, the California Horse Racing Board has called an emergency meeting March 6 to determine the status of the MEC-owned tracks in the state, Santa Anita Park and Golden Gate Fields, as well as the company's licensed advance deposit wagering entity, XpressBet.
Two brothers have been charged by the U.S. District Court in Nevada in connection with a U.S. Attorney's Office investigation that included the former offshore rebate shop International Racing Group.
After absorbing a $378.6-million loss in 2008's fourth quarter alone, Penn National Gaming Inc. posted an annual loss of $153.3 million for the year, and said while it isn't "enthused" about developing a potential new slots facility in Maryland, it will pursue those plans.
Here's a fact: Some domestic advance deposit wagering outlets are openly offering cash rebates to customers that wager on California racing signals.
A collection of familiar faces to Fair Grounds Race Course and Slots will line up Feb. 7 in the Mineshaft Handicap (gr. III), which is part of the six-stakes "Louisiana Derby Preview Day" card scheduled for the New Orleans-area track.
British-based Betfair Group, which announced Jan. 27 it had completed its acquisition of TV Games Network from Macrovision for $50 million in cash consideration, is hopeful its new holding helps it make inroads in the United States market, which it has courted for years.
After deliberating late into the night of a rare Saturday trial session, jurors in a Kentucky state court trial partially sided with Paula Singer in a wrongful-termination action by delivering a judgment of $47,417 against a prominent equine insurance agency and former boss Richard Vimont, but awarded her no punitive or emotional distress damages.
In a Kentucky court trial interrupted for two days by a paralyzing ice storm, jurors returned to hear chilling testimony that a manager was fired from her job with an equine insurance agency because she terrorized her staff, and not because she was on the verge of discovering an international scheme of fraud.
Some Nevada casino racebooks are booking wagers on races from tracks affiliated with TrackNet Media Group after the content company recently cut off signals to the state over a contract dispute.
Jurors in a Kentucky state courthouse are basically asked to believe one of two things pertinent to a civil lawsuit being tried there: Former Kentucky resident Paula Singer was either fired from Bluegrass Bloodstock Agency in 2001 for being a poor manager; or, that the former head of the company's equine insurance division was unjustly terminated because she was on the verge of uncovering a scheme of international fraud involving her boss.
Despite comments from TrackNet Media Group that negotiations are "going backwards" over issues involving racing signals to Nevada racebooks, the player on the other side of the table offered guarded hope matters can be resolved before a Jan. 25 cut-off deadline.
Mexico's Caliente Group, which for years has battled sometimes intense scrutiny of its South American bookmaking operation, has completed the comprehensive due-diligence process of the Thoroughbred Racing Protective Bureau.
TrackNet Media Group has granted an extension of its racing signals to Nevada casinos following a meeting held Jan. 7.
Hampered by a 20.3% drop in total handle in December, wagering in the United States declined 7.2% in 2008 to record the lowest overall total in a decade.
TrackNet Media Group is poised to cut off its signals to more than 80 Nevada casinos Jan. 7 unless a new agreement is met for what the content company feels are more equitable fees.
The Florida Horsemen's Benevolent and Protective Association said Dec. 22 it has reached agreements on advance deposit wagering contracts with Calder Race Course and Gulfstream Park.
In announcing a deal to sell its TV Guide Network for $255 million, Macrovision Solutions Corp. said Dec. 18 it also hoped to reach a deal to sell the TVG horse racing network in early 2009.
Cognizant of negative dynamics hammering the racing scene in South Florida, leaders of the Thoroughbred industry harbored in the central part of the state are considering preemptive-strike plans to pursue a permit for pari-mutuel meets to be run in the Ocala area.
Cushion Track has answered speculation it would add third-party defendants to it case with the Los Angeles Turf Club, charging several contracted companies with fault in the development of the former troubled synthetic surface at Santa Anita Park.
A Kentucky state judge has ruled on a summary judgment in favor of Stan Fulton in his lawsuit against Stonewall Farm Stallions, saying the stud farm owes the horseman and racetrack owner more than $800,000 on the sale of sire It's No Joke.
More than two years after the first federal lawsuits were filed in connection to the former ClassicStar broodmare lease operation, efforts are being made to clear legal logjams that have impeded resolution of now multiple disputes.
A Circuit Court judge in Lexington has dismissed claims filed by Jess Jackson and his Stonestreet Farm against Buckram Oak Holdings in connection with Jackson's $17.5 million purchase of the horse farm in February 2005.
Penn National Gaming Inc. has asked a Maryland federal court to dismiss a lawsuit brought against the company for alleged securities violations inherent to its failed buyout deal earlier this year, claiming the legal action is an attempt by the plaintiffs to recover bad investment decisions.
Cushion Track and related defendants have filed a counterclaim against the Los Angeles Turf Club and its general counsel in the lawsuit over the troubled former synthetic surface at Santa Anita Park, asking a California federal court to award it at least $1.3 million in damages.
Youbet.com said Nov. 19 it has settled several disputes with the former owners of defunct off-shore wagering entity International Racing Group, a deal which features both cash and stocks changing hands, and mentions that a federal investigation into IRG may still be active.
A recent deal that allowed expanded distribution of the Fair Grounds racing signal was hailed by some as a step forward in the months-long nationwide dispute between horsemen, racetracks, and advance deposit wagering entities. But some horsemen's groups are categorizing the development as a step backwards in an overall plan to secure higher revenue shares for purses from a growing wagering segment.
Confirmation of a plan allowing the Jockeys' Guild to emerge from bankruptcy was delayed for at least a couple of weeks during a Nov. 17 hearing in a Kentucky federal court, but the judge presiding over the Chapter 11 reorganization said he expects to approve the necessary order when it crosses his desk.
Members aligned on different sides of advance deposit wagering's "Big Four" reported mixed handle results in the third financial quarter amid declining national betting trends.
Jess Jackson is involved in a private bid to buy out the 20% minority interest he doesn't control in reigning Horse of the Year Curlin, but actions in a Kentucky court Nov. 13 on the surface probably won't help speed a decision on the champion colt's future.
One old betting axiom -- "shut out at the window" -- has taken on a whole new meaning when paired with a relatively new one in the racing industry lexicon: "signal wars."
The federal lawsuit against Cushion Track and affiliates over the former synthetic racing surface at Santa Anita Park is geared to go forward after a judge recently denied most of the defendants' request for dismissal.
The court-appointed receiver managing the minority ownership in Horse of the Year Curlin said the sealed-bid process established Oct. 15 to possibly sell the 20% interest in the champion colt will go forward, despite a motion filed in attempt to halt it.
An agreement has reportedly fallen apart for signal distribution of the upcoming Churchill Downs fall meet to advance deposit wagering entities, according to horsemen representatives involved in the negotiations.
Although Keeneland has announced it has been retained to market the 20% minority interest in reigning Horse of the Year Curlin, a pending motion in a Kentucky court is asking for the current sale process to be halted.
Double-digit percentage drops hit the first open session of the Ocala Breeders' Sales Co.'s fall mixed sale Oct. 7, continuing a trend from the previous day's consignor-preferred session.
It took roughly six hours to get there, but a horse selling in the opening session of the Ocala Breeders' Sales Co. fall mixed sale finally brought six figures Oct. 6, a day marked by severe across-the-board declines for the Central Florida auction.
With a yearling auction season all but over, and one that delivered a sharp dose of economic reality, industry eyes will be fixed on the upcoming Ocala Breeders' Sales Co. fall mixed sale, the unofficial annual kick-off to the campaign of selling of broodmares and weanlings.
Shares of Magna Entertainment Corp. plummeted by more than 50% on heavier than average volume Sept. 30, prompting more concern for the owner of the site of next month's Breeder' Cup World Championships.
While signal distribution at racetracks continues to be a hot topic in the horse racing industry, that doesn't appear to be the case at Hawthorne Race Course, which opens its meet Sept. 26.
Cushion Track Footing and affiliated defendants have indicated in a recent court filing that they may countersue certain defendants in the federal lawsuit over Santa Anita Park's original synthetic surface.
The Portland Meadows meet, which looked for a time like it might be canceled, is scheduled to kick off Oct. 5, despite ongoing issues in Oregon.
Scientific Games claims the lawsuit brought against the gaming company over the recent "quick-picks" wagering situation cannot be judged in the California federal court system, and its settlement with the California Horse Racing Board was an appropriate measure to satisfy damages caused by any "alleged" defect in its betting systems.
Power outages to the barn area and the Kentucky Derby Museum are about the only effects Churchill Downs felt from the Sept. 14 windstorm created by the remnants of Hurricane Ike.
A Maryland attorney who is a shareholder of Penn National Gaming Inc. has filed a styled class-action lawsuit against the publicly-traded gaming company and certain of its executives over the failed buyout attempt by two investment entities.
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