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Preakness Yields Bountiful Handle Increases

Preakness Yields Bountiful Handle Increases

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.

Stronach Critical of Certain MID Investors

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.

MEC 2008 Loss Highest in Company History

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.

MEC: Other Assets to be Sold Separately

MEC: Other Assets to be Sold Separately

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.

CHRB Calls Special Session on MEC Issues

CHRB Calls Special Session on MEC Issues

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.

PNGI 'Not Enthused' About Maryland Slots

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.

Industry Awaits Betfair Plans for TVG

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Industry Awaits Betfair Plans for TVG

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.

Jury Gives Mixed Results in Singer Trial

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.

'Chilling' Tales Told at Kentucky Trial

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.

Kentucky Trial: Insurance Fraud? Or Not?

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.

TrackNet Signal Cut-Off Looms in Nevada

TrackNet Signal Cut-Off Looms in Nevada

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.

Caliente: Clean Bill of Health from TRPB

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 Poised to Cut Off Nevada

TrackNet Poised to Cut Off Nevada

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.

ADW Deals Reached on Calder, Gulfstream

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ADW Deals Reached on Calder, Gulfstream

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.

TVG Sale Now Targeted for 2009

TVG Sale Now Targeted for 2009

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.

Ocala Industry May Seek Racing Permit

Ocala Industry May Seek Racing Permit

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 Blames Others for SA Woes

Cushion Track Blames Others for SA Woes

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.

Judge Rules for Fulton in Stallion Suit

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.

Judge Jump-starts ClassicStar Litigation

Judge Jump-starts ClassicStar Litigation

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.

Judge Rules in Favor of Buckram Oak

Judge Rules in Favor of Buckram Oak

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.

PNGI Seeks Dismissal of Shareholder Suit

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 Countersues Santa Anita

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 Reaches Settlement in IRG Deals

Youbet Reaches Settlement in IRG Deals

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.

Fair Grounds ADW Deal: Good or Bad?

Fair Grounds ADW Deal: Good or Bad?

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.

OK of Guild Bankruptcy Plan Expected

OK of Guild Bankruptcy Plan Expected

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.

Jackson Makes Bid for Curlin Interest

Jackson Makes Bid for Curlin Interest

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.

Cushion Track Lawsuit Dismissal Denied

Cushion Track Lawsuit Dismissal Denied

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.

Receiver: Curlin Bids Will Go Forward

Receiver: Curlin Bids Will Go Forward

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.

Churchill ADW Agreement Off the Table?

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.

Motion Aims to Halt Curlin Sale Process

Motion Aims to Halt Curlin Sale Process

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.

Will Trends Continue at OBS Mixed Sale?

Will Trends Continue at OBS Mixed Sale?

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.

MEC Shares Plunge in Sept. 30 Trading

MEC Shares Plunge in Sept. 30 Trading

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.

No ADW Issues Evident at Hawthorne

No ADW Issues Evident at Hawthorne

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 May Add Defendants to Case

Cushion Track May Add Defendants to Case

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.

Sci Games Seeks 'Quick-Picks' Dismissal

Sci Games Seeks 'Quick-Picks' Dismissal

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.

Lawsuit Filed Over Penn National Deal

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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