Churchill Downs Inc., which spent $600,000 in the first quarter of this year on another failed bid for casino gambling in Kentucky, believes the next opportunity to makes its case will come in 2016.
With continued success in its gaming and online operations and the Kentucky Derby presented by Yum! Brands (gr. I) week, along with a steady year in racing, Churchill Downs Inc. reports record net revenues in 2013.
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Canterbury Park Holding Corp., despite temporary shutdown of operations last summer at Canterbury Park, reported positive financial figures for 2011 and the fourth quarter of last year.
MTR Gaming Group reported solid growth in net revenue for the fourth quarter of 2011 but a net loss for the quarter and the year.
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Churchill Downs Inc. reported net earnings from continuing operations of $19.7 million for the third quarter of 2011, up significantly from $3.7 million for the third quarter of 2010.
Nine-year-old New Jersey-bred Who's the Cowboy, a seven-time stakes winner, passed the $1 million mark in earnings when he won an allowance optional claiming event at Monmouth Park July 25.
Penn National Gaming Inc. officials said April 21 they believe if the question of racetrack video lottery terminals makes the ballot in Texas it has a good chance to pass.
Penn National Gaming Inc. said 10 of its 15 gaming properties increased net revenue and that it intends to "expand its presence to any jurisdiction considering the expansion of gaming."
Churchill Downs Inc. reported net earnings of $3.7 million for the third quarter of 2010, up considerably from a net loss of $1.2 million for the same period in 2009.
Boosted by growth in its gaming and online segments and this year's Kentucky Derby and Kentucky Oaks, Churchill Downs Inc. reported that net revenues rose 11% during the second quarter of 2010.
MTR Gaming Group reported a net loss of $3.3 million for the first quarter of 2010 versus net income of $752,000 for the same period in 2009.
- By Tom LaMarra
Youbet.com reported a small loss for the first three months of 2010, noting there would have been a similar gain if not for $1 million in expenses tied to its impending merger with Churchill Downs Inc.
Churchill Downs Inc. reported a decline in net income for 2009, as well as a fourth-quarter loss for the year.
Canterbury Park Holding Corp., parent of Canterbury Park in Minnesota, reported a gain in income for the third quarter of 2009.
Canterbury Park Holding Corp. reported a net loss of $173,099 for the second quarter of 2009 but said reduced costs and improved operating efficiencies should help moving forward.
- By Tom LaMarra
Youbet.com reported Aug. 12 a 3% increase in revenue for the second quarter of 2009 but a 27.9% decrease in net income.
MTR Gaming Group, which cut jobs and corporate expenses in the past year, released improved financial results for the second quarter of 2009 and said it's poised for growth in Ohio, where racetrack video lottery terminals have been authorized.
Churchill Downs Inc. released its second-quarter results after the close of the stock market July 29, with a slight increase in earnings due to its advance deposit wagering system and slot-machine gaming.
Penn National Gaming Inc. officials see upside to an expansion of gambling in Ohio, but said they have no idea how it will shake out.
The parent company of Canterbury Park reported a smaller first-quarter profit May 13, blaming current economic conditions and increased competition at the racetrack located in Shakopee, Minn.
The owner of Colonial Downs reported May 14 an increased first-quarter profit of $3.1 million, helped by the improved performance of its racing subsidiary.
Flush off a quarter in which it saw increased handle and profit, Youbet.com said May 13 it would look at possibly establishing a presence in another country in an effort to expand its wagering offerings beyond horse racing.
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.
MTR Gaming Group swung to a profit of $742,000 in the first quarter of the year, with officials vowing May 7 to continue to improve on current operations rather than seek other properties to add to the company's portfolio.
Despite growth in its online pari-mutuel wagering and Louisiana slots operations, the top executive of Churchill Downs Inc. said May 7 the company is not ignoring its racing properties, but needs legislative help to keep them viable entities.
Citing the absence of insurance payments received in 2008, Churchill Downs Inc. reported a net loss of $4.8 million in the first quarter of the year, but said a 12% increase in net revenues were attributed to strength in its Louisiana gaming business and on-line wagering operation.
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.
The owner of Colonial Downs reported it lost $4.1 million during 2008, due in part to its investment in MTR Gaming Group, it was reported March 18.
MTR Gaming Group on March 12 reported a $17.7 million loss for 2008, and took a shot at a new Ohio proposal to put slots in casinos.
Youbet.com reported a loss of $4.5 million for 2008, fueled by an $11.2 million fourth-quarter impairment charge for subsidiary United Tote, the company reported March 5.
Profits from continuing operations at Churchill Downs Inc. grew 71% in 2008, the company reported March 4, despite handle drops at all of its racetracks.
TVG has been classified as a discontinued operation by parent company Macrovision Solutions Corp., which says it in the "final phases" of negotiations to sell the horse racing network.
After turning over a new leaf in management, Youbet.com's net income for the third quarter of 2008 experienced a significant increase in profit from the year before.
Churchill Downs Inc. said Nov. 6 it is in a position to grow in various gaming areas, but is mum about what possible ventures might be considered in the future.
Churchill Downs Inc. more than doubled its net earnings against decreasing revenues from continuing operations in the third quarter, the company announced Nov. 5.
Following a transition period, MI Developments chief executive officer and board member John Simonetti said he will leave his post, but he offered no timeline Aug. 8 during a conference call on the company's second-quarter earnings.
Magna Entertainment Corp., which posted a $21.25-million loss for the second quarter of 2008, said Aug. 5 it's reconsidering the sale of some assets it expected to unload as part of a debt-elimination plan.
Youbet.com, during an Aug. 5 conference call in which it reported a profit for the second straight quarter, said it is evaluating the effects of a possible merger with TVG.
MTR Gaming Inc. has defined as core assets its two Thoroughbred racinos and an Ohio harness track, and will examine sale possibilities of all other properties to reduce debt and raise shareholder value, the company said July 30.
Churchill Downs Inc. posted net earnings of about $800,000 in the first quarter of 2008, compared with a net loss of $8.4 million for the same period a year ago, the company announced May 6.
Jacobs Entertainment Inc. and its affiliates have recently increased their overall stake in MTR Gaming Group, a move that follows a January announcement that the owner of Colonial Downs was shifting its focus towards facilities that feature multiple forms of gaming.
Churchill Downs Inc. is asking for patience in seeing financial rewards from what it termed an $80 million investment into the advance deposit wagering industry in 2007, and promises to act on opportunities for the company's progress in 2008.
With one analyst tagging the proceedings "Groundhog Day," Magna Entertainment Corp. announced Feb. 29 more losses during a short, testy conference call that discussed year-end financials for 2007.
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.
Play at poker tables in their first few weeks of operation at Mountaineer Race Track & Gaming Resort has exceeded expectations.
The financial results of the two biggest racing days for Churchill Downs Inc. show the company's new revenue model for account wagering can be successful, a company official said.
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