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Curlin Foreclosure Motion Continued

Curlin Foreclosure Motion Continued

A Kentucky judge delayed ruling on the latest motion asking to foreclose on the company that owns a minority interest in reigning Horse of the Year Curlin Feb. 19, leaving in place, at least temporarily, the colt's clouded ownership structure.

NASDAQ: MEC Not in Compliance

NASDAQ: MEC Not in Compliance

Share of Magna Entertainment Corp. have traded under $1 for more than 30 straight days, prompting NASDAQ to notify the racing and gaming company it was out of compliance with marketplace rules and faces delisting.

Youbet to Close IRG

Youbet to Close IRG

Youbet.com will close its troubled off-shore telephone wagering entity International Racing Group, according to a Feb. 13 filing with the U.S. Securities and Exchange Commission.

CDI: Multi-Year Proposal for 'Cup

CDI: Multi-Year Proposal for 'Cup

Churchill Downs Inc. says it is sincerely interested in hosting the Breeders' Cup World Championships, so much so that it offered what it considered an "innovative" multi-year plan for regularly staging the annual event at its signature namesake track starting in 2009.

TOC: Partial Signal Consent Given

TOC: Partial Signal Consent Given

The Thoroughbred Owners of California has given limited consent to New York's off-track betting corporations to accept wagers on California races, but is holding firm on its stance against allowing wagers from the companies'out-of-state account deposit wagering customers.

Guild Bankruptcy Stays in Kentucky

Guild Bankruptcy Stays in Kentucky

A federal judge presiding over the Jockeys' Guild bankruptcy proceedings denied a request to move the case to California Jan. 29, saying Kentucky was the right place for the group to reorganize its operations.

Youbet Set for Illinois Wagering

Youbet Set for Illinois Wagering

Youbet.com has reached an exclusive agreement with four Illinois racetracks to offer advance deposit wagering access to residents of the state, a deal that is being called the first of its kind because of its revenue sharing program.

Florida Sets Limit on Auction Rules

The Florida Department of Agriculture and Consumer Services claims it doesn't have the power to regulate certain aspects of horse sales in the state, but is prepared to publish proposed rules it says are intended to prevent unfair or deceptive trade practices.

Curlin Foreclosure Motion Denied

The current but clouded ownership of 2007 Horse of the Year Curlin remained unchanged following a hearing in a Kentucky state court Jan. 22, with a judge overruling a motion for foreclosure on the minority interest owned by jailed attorneys Shirley Cunningham Jr. and William Gallion.

Indian Blessing: 2-Year-Old Filly

Indian Blessing: 2-Year-Old Filly

Indian Blessing was rewarded for an impressive 2007 campaign that included three victories in as many starts by winning the Eclipse Award for 2-Year-Old Filly Jan. 21 at the Beverly Wilshire Four Seasons Hotel in Beverly Hills, Calif.

CDI Venture: Derby/Oaks Packages

CDI Venture: Derby/Oaks Packages

Following the lead of other premier sporting events such as the Super Bowl, Churchill Downs Inc. has partnered up with a full-service travel agent to offer event packages for its two biggest days of racing, the Kentucky Derby (gr. I) Presented by Yum! Brands and the Kentucky Oaks (gr. I).

Wagering Down, Purses Up in 2007

Overall wagering declined slightly in the United States in 2007 while purses increased, according to "Thoroughbred Racing Economic Indicators" data released Jan. 15.

Jackson: Curlin Interest Protected

Jackson: Curlin Interest Protected

An attorney representing Stonestreet Stables, the majority owner of leading Horse of the Year candidate Curlin, emphasized Jan. 8 that a foreclosure motion being considered in a Kentucky state court involves only the minority interest in the star colt.

Youbet Shut Out From Gulfstream

Youbet Shut Out From Gulfstream

A contentious standoff over Gulfstream Park's racing signal has brought a chilling end to any warm fuzzies felt from the recent broad distribution deals emerging out of California, New Jersey, and New York.

IRG: Some Customers Being Paid

IRG: Some Customers Being Paid

A spokesman affiliated with Youbet.com says certain customers of subsidiary International Racing Group have received funds owed by the off-shore rebate shop, which is part of an investigation being conducted by the federal government.

HOPA Reorganizes Board, Focus

HOPA Reorganizes Board, Focus

The Horse Owners' Protective Association, an industry advocacy group that was formed in part by activist owner Jess Jackson, has announced a reorganization of its board and an expanded focus of its mission.

Florida OKs Quarter Horse Permit

There may be more opportunities for Thoroughbreds to race in Florida in the coming years as at least one proposed Quarter Horse track has received a permit from the state, with a second such facility under consideration for similar licensing.

TVG Deal Opens NJSEA to TrackNet

TVG Deal Opens NJSEA to TrackNet

A deal struck between TVG and the New Jersey Sports and Exposition Authority extends the network's previous agreement for rights to signals from Monmouth Park and Meadowlands, but allows the NJSEA to separately negotiate with entities affiliated with TrackNet Media Group.

The Meadows Changes Hands

The parent company of the The Meadows Racetrack and Casino in Pennsylvania, which is operated in part by former owner Magna Entertainment Corp., has been sold for $1.75 billion to an Australian entity, it was announced Dec. 12.

Damages Awarded in Stallion Trial

A Las Vegas federal jury has awarded nearly $1.9 million in damages to a New York horsewoman and her partners in a case involving the undisclosed sale of shares and seasons of prominent Thoroughbred stallions.

Champion Resigns Youbet Posts

Champion Resigns Youbet Posts

Chuck Champion has resigned his executive positions with Youbet.com, ending a five-year tenure that featured bouts of growth and turmoil for the advance deposit wagering entity.

Dragone Ready for MJC Challenge

Dragone Ready for MJC Challenge

Chris Dragone knows he is wading into some fiery situations as the new head of the Maryland Jockey Club, but said he is more than willing to take whatever heat necessary to right a rocky ship.

Jockeys' Guild Operating in Deficit

Jockeys' Guild Operating in Deficit

The financially troubled Jockeys' Guild has slightly more assets than liabilities, but projects a working monthly deficit of nearly $120,000, according to documents filed Nov. 26 in compliance with the group's bankruptcy protection action.

McPeek Lawsuit Targets Curlin Sale

McPeek Lawsuit Targets Curlin Sale

Trainer Kenny McPeek has filed a lawsuit in Kentucky against a company involving two jailed attorneys who are part owners of leading Horse of the Year candidate Curlin, alleging he is owed money from the previous sale of the horse.

IRG Contests Oregon Suspension

IRG Contests Oregon Suspension

International Racing Group has contested a decision by the Oregon Racing Commission to suspend its state operating license, and will continue to conduct business through its hub pending an administrative law hearing.

Numbers up for Keeneland Session

Buyers at the eighth session of the Keeneland November breeding stock sale kept things rolling Nov. 12, pushing the gross, average, and median towards positive gains in a session-to-session comparison over 2006.

Legislators OK Task Force Rules

Legislators embraced recommendations of self-regulation for Kentucky horse auctions during a committee session Nov. 9, and applauded the effort of the Sales Integrity Task Force that formulated them.

CDI Keeping an Eye on the Future

CDI Keeping an Eye on the Future

Churchill Downs Inc. reported a 7.1% increase in net revenue for the third quarter of 2007, but realized a 62.9% decline in net earnings, as the company's chief executive voiced hope for the future on a variety of fronts during a Nov. 8 conference call.

IRG a Hot Topic During Youbet Call

IRG a Hot Topic During Youbet Call

Youbet.com reported a decline in overall handle and increase in total revenue for the third quarter of 2007, but a related earnings conference call with analysts Nov. 7 was punctuated by discussion of the federal investigation involving the company's off-shore entity, International Racing Group.

Padua's Interest in Curlin Acquired

Padua's Interest in Curlin Acquired

Jess Jackson's Stonestreet Stables and George Bolton have acquired Padua Stables' interest in likely Horse of the Year Curlin, whose ownership structure has been under a cloud due to legal actions involving the principals of another part-owner, Midnight Cry Stable.

Midnight Cry's Interest in Curlin Intact, Attorney Claims

Midnight Cry's Interest in Curlin Intact, Attorney Claims

An attorney representing a limited liability company that includes embattled attorneys William Gallion and Shirley Cunningham Jr. claims his client's ownership interests in likely Horse of the Year Curlin is still intact, and is not in the hands of 400-plus plaintiffs in a class-action lawsuit settlement.

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