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Former Youbet CEO Resigns Board Position

Former Youbet CEO Resigns Board Position

Former Youbet co-founder and chief executive officer David Marshall has resigned his position as vice-chairman of the company's board of directors, according to an Oct. 30 filing with the U.S. Securities and Exchange Commission.

Wagering Declines on 2007 Breeders' Cup

Wagering Declines on 2007 Breeders' Cup

A total of $111,903,685 was wagered from all sources on the 11-race Breeders' Cup World Thoroughbred Championships card at Monmouth Park Oct. 27, according to preliminary data, a decline of 20.3% from the all-time record set at Churchill Downs last year.

English Channel Breaks Through in Turf

English Channel Breaks Through in Turf

English Channel pulled away from a tight pack coming out of the final turn and exploded through the stretch to win his first $3 million John Deere Breeders' Cup Turf (gr. IT) in three tries, beating a field that included European star Dylan Thomas.

ClassicStar Lawsuits Transferred to Kentucky

ClassicStar Lawsuits Transferred to Kentucky

Several lawsuits pending against ClassicStar have been consolidated into a single action to be heard in Kentucky federal court, but the primary operating entity of the former broodmare-lease marketer will be temporarily exempt from litigation pending its bankruptcy action.

IRG Faces License Suspension in Oregon

IRG Faces License Suspension in Oregon

The Oregon Racing Commission has notified International Racing Group that it intends to suspend its state operating license as an advance deposit wagering company, but parent company Youbet.com says it is working to prevent such an event.

Youbet In, IRG Out Among Those with Breeders' Cup Agreements

Youbet In, IRG Out Among Those with Breeders' Cup Agreements

Breeders' Cup Ltd. has anounced agreements to carry the World Championship signals with all major account deposit wagering platforms, including Youbet.com, which has been involved in a federal investigation regarding activities of its off-shore wagering entity, International Racing Group.

Task Force Recommendations Draw Praise, Criticism

Task Force Recommendations Draw Praise, Criticism

Preliminary recommendations aimed at self-regulation for the equine auction industry were unveiled by the Sales Integrity Task Force during a public forum held at the Keeneland sales pavilion Oct. 15, but the driving force behind Kentucky legislation seeking reform in the public selling arena quickly voiced displeasure with the suggestions.

Youbet.com Subject of Virginia Licensing Lawsuit

Colonial Downs and Virginia horsemen have filed a lawsuit claiming Youbet.com is operating illegally without a license in the commonwealth, and want the advance deposit wagering company to pay back hundreds of thousands of dollars in lost source-market fees.

Keeneland Sale Finishing With a Kick

Keeneland Sale Finishing With a Kick

Led by the $122,000 given for a half-sister to grade II winner Dream Rush, the Sept. 24 session of the 2007 Keeneland September yearling sale again produced lofty percentage increases over the corresponding 2006 session.

Seminars to Focus on Fraud and Tax Issues

A series of owners' seminars focusing on fraud and tax issues in the Thoroughbred industry is scheduled for Sept. 12 in Lexington, and will be hosted by a group of attorneys that include those involved in the high-profile James McIngvale lawsuit.

Betting Group Launches Protest Actions

A group of bettors angered at the divisive state of advance deposit wagering has taken action by staging what it termed a "buycott" at a New Mexico racetrack, and also launched a protest Web site against a content provider.

Legal Battle Over Lawyer Ron's Career 'in Limbo'

Lawyer Ron's victory in the July 28 Whitney Stakes (gr. I) at Saratoga apparently has had no impact on the lawsuit between his owners, a legal dispute that one of the principal parties described as being "in limbo."

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