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.
The owner of La Dolce Vita has formally appealed the decision of Gulfstream Park stewards not to change the outcome of the Feb. 3 Suwannee River Handicap (gr. III), saying the decision challenges the integrity of horse racing.
The parent company of TVG Network reported the horse racing television channel realized a 10% increase in wagers processed for 2007, but saw overall revenues decline slightly for the year.
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.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.
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.
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.
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.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.
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.
Earle I. Mack, who led the push for pending auction reform legislation in Florida, has come out in support of a strong policy statement recently released by the Thoroughbred Owners of California regarding horse sales.
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 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.
Churchill Downs Inc. has asked a federal bankruptcy court to ensure funds its member tracks contribute to the Jockeys' Guild be used for their intended purposes and not for other needs the financially-troubled organization may choose.
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).
Shares of Scientific Games Corp. tumbled to its lowest point in more than three years Jan. 16 as the lottery services supplier reeled from the loss of its third online contract within a month.
Overall wagering declined slightly in the United States in 2007 while purses increased, according to "Thoroughbred Racing Economic Indicators" data released Jan. 15.
Earle I. Mack has purchased recent Argentina group-I winner Star Plus, and has announced plans to race the 4-year-old colt in the United States under the direction of trainer Kenny McPeek.
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.
More than 400 people want to cash in on Curlin in a move that could put partial ownership of the leading Horse of the Year candidate on the sheriff's auction block.
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.
Eight-time Tampa Bay Downs leading trainer Don Rice was hospitalized in critical condition after he was apparently kicked in the head by a horse at his Central Florida farm.
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.
- By Ryan Conley
- News, Northeast Region, Midwest Region, Southeast Region, Southwest Region, West Region
Jess Jackson's Stonestreet Stables now has an 80% ownership interest in Curlin after completing a deal to acquire former partner George Bolton's percentage of the 2007 leading Horse of the Year candidate.
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.
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.
Churchill Downs has filed a lawsuit against Midnight Cry Stable's co-owners, saying it wants a court to decide who should get purse money earned by their runners.
Keeneland's record-setting November breeding stock came to a close Nov. 19, setting a new standard for gross receipts of $340,877,200.
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 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.
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.
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.
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.
Magna Entertainment Corp. has overhauled the ailing slots operation at its Gulfstream Park Racing and Casino complex by reducing the amount of machines it offers and expanding its simulcasting area.
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.
Fueled by a record total from TVG, wagers handled through Oregon hubs jumped 19.7% for the third quarter of 2007, according to data released by the state's racing commission.
Canterbury Park's parent company reported increased income during the third quarter of 2007 despite experiencing a 5% decline in total handle since the beginning of the year.
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.
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.
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 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.
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.
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.
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.
About 50 members of the horse industry met in a public forum setting Oct. 29 to discuss the potential impact of a new Florida law that authorizes regulation in public and private sales.
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.
One of the owners of likely Horse of the Year Curlin claims the recent order handed down by a Kentucky judge only affects the minority interest of embattled attorneys William Gallion and Shirley Cunningham Jr.
Magna Entertainment blamed the weak performance of its slots operation at Gulfstream Park Racing & Casino as a key to another in a series of poor financial quarters, as the company announced a $49.8 million net loss ending Sept. 30.
The parent company of TVG reported a record handle of $148.5 million for the third quarter of 2007, and announced a new wagering partnership in New York during a Nov. 1 conference call with analysts.
International Racing Group and parent company Youbet.com are facing a Nov. 12 deadline in regards to IRG's license to operate a wagering hub in Oregon, and basically have two avenues to pursue for continued operation there.
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