The National Thoroughbred Racing Association said its fiscal year that ended Jan. 31 produced net revenue of $190,340, the third consecutive year in which revenue outpaced expenses.
- By Tom LaMarra
The National Thoroughbred Racing Association is projecting total operating revenue of $81.5 million by 2010, the last year of its five-year strategic plan. The largest revenue-producer would be Breeders' Cup, which has a joint operating agreement with the NTRA.
Magna Entertainment Corp. reported a net loss of $4.12 million for the first quarter of 2005, down from net income of $21.11 million for the comparable period in 2004.
Penn National Gaming Inc. reported an increase in net revenue for the first quarter of 2005 compared with the comparable period in 2004, but also showed a $2-million loss in net income.
The Jockeys' Guild generated $2.1 million less revenue in 2003 than in 2002, according to a 2003 financial report the Guild filed in December with the U.S. Department of Labor. Total revenue declined 31% from $6.8 million in 2002 to $4.7 million in 2003, according to the document.
Profits at Pimlico Race Course fell almost 58% in 2003, according to a financial report filed with the Maryland Racing Commission.
Magna Entertainment Corp. reported a $6-million decrease in net income for the first quarter of 2003 compared with the same period in 2002, according to a financial statement released April 30.
Youbet.com on Wednesday posted a loss of $3.2 million, or 17 cents per common share, for the second quarter of 2001. Meanwhile, revenue for the second quarter rose 14% to $1.7 million compared with the same period last year, and handle derived from the company's subscriber base increased 8% to a record $28.4 million for the second quarter, compared with $26.3 million during the same quarter in 2000.
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