Gary Sproule

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Youbet: 2007 Loss Now $28.4 Million

Youbet: 2007 Loss Now $28.4 Million

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 Settles Lawsuit in Virginia

Youbet Settles Lawsuit in Virginia

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.

Wanted: A Better Pari-Mutuel Model

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.

Champion Resigns Youbet Posts

Champion Resigns Youbet Posts

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.

TrackNet Takes Another Shot from Youbet

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 Hires Exec Away from Disney

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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