Trainer Ken McPeek and his wife Sue are in the process of developing a horse racing mobile application for iPhones and the Android that will funnel some revenues into purses.
Prairie Meadows Racetrack and Casino and the Iowa Horsemen's Benevolent and Protective Association have announced they are collaborating on the development of the state's first legal online wagering platform.
Youbet.com has restated its earnings for 2007 due to a recalculation of an earn-out payment to the former owners of defunct subsidiary International Racing Group, increasing its annual loss for the year to $28.4 million.
Youbet.com announced May 21 it had regained compliance with NASDAQ trading requirements after its stock price traded above $1 for 10 consecutive business days.
Youbet.com said April 1 it had put a restructuring plan in place to recover from last year's $27.4-million loss, and is looking forward to a turnaround in 2008.
Youbet.com reported March 31 it lost $28.7 million in the fourth quarter of 2007 on the same day it was notified by NASDAQ it faces delisting from the stock exchange.
Youbet.com said March 18 it had resolved its part in a federal investigation into its former International Racing Group subsidiary, and will not be charged in return for continued cooperation with officials.
A federal lawsuit between Youbet.com and several entities associated with Virginia racing has been settled, resulting in a renewed effort by the advance deposit wagering company to become licensed in the state.
The head of the National Horsemen?s Benevolent and Protective Association has suggested the horseracing industry create an entity to assist in the marketing and distribution of its product, in this case racing signals.
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.
James Burk and Gary Sproule have been named chief financial officer and chief operating officer of Youbet.com, the company announced July 9.
Youbet.com directed more criticism at the controversial content alliance of Churchill Downs and Magna Entertainment May 8, with one executive telling analysts during an earnings conference that the partners in TrackNet Media Group "ended up shooting not only themselves, but an entire industry."
Youbet.com has hired Gary Sproule, a former Disney executive, as its chief financial officer. The California online racing and wagering company also announced a marketing agreement with California fairs.
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