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Good-Bye Mom and Pop?

The financial drain is becoming too large for small commercial Thoroughbred breeders to handle.

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NYRA Losses Nearly Double for 2007

In a financial statement released by the New York Racing Association March 28, the non-profit organization reported total net operating losses of $34.28 million in 2007. That figure is nearly double from 2006, when total net losses reached $17.83 million.

MEC: Track Business Forces $82-Million Write-Down

Magna Entertainment Corp. will record an $82-million non-cash write-down for the fourth quarter of 2003, but the company said there would be no operating impact on any of its racetracks.

Churchill Indicates Desire to Sell Ellis Park

Churchill Downs Inc. reported a gain in earnings for 2002 but indicated it's looking to sell Ellis Park, the western Kentucky racetrack it purchased in 1998 as part of a $22 million package. The company's financial statement for 2002 was released Feb. 11.

NTRA Annual Report Outlines Financial Situation

The National Thoroughbred Racing Association, in its 2001-02 annual report released May 7, outlines a $59.5-million budget that relies heavily on revenue from Breeders' Cup Ltd. and membership dues.

Churchill, Others Seek Payments from Hialeah

Churchill Downs Inc. has filed a lawsuit in Miami-Dade, Fla., Circuit Court alleging that Hialeah Park has failed to make payments of approximately $185,000 in simulcast fees. Meanwhile, a North Dakota wagering company and South Florida horsemen also are seeking money from the racetrack.

NTRA Revenues: From Red to Black in 2000

The National Thoroughbred Racing Association in 2000 had $4.81 million in operating revenue over operating expenses, compared with a $1.82 million deficit in operating revenue in 1999. That's a swing of $6.6 million to the positive side of the fiscal ledger.