The parent company of TVG Network reported the horse racing television channel realized a 10% increase in wagers processed for 2007, but saw overall revenues decline slightly for the year.
Churchill Downs Inc. says it is sincerely interested in hosting the Breeders' Cup World Championships, so much so that it offered what it considered an "innovative" multi-year plan for regularly staging the annual event at its signature namesake track starting in 2009.
Overall wagering declined slightly in the United States in 2007 while purses increased, according to "Thoroughbred Racing Economic Indicators" data released Jan. 15.
On-track handle at Calder Race Course fell 24% during the 2007 portion of its Tropical meet, according to data obtained from the Florida Division of Pari-Mutuel Wagering. Calder's simulcast handle fell 26% compared with the same period in 2006.
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.
Youbet.com reported a decline in overall handle and increase in total revenue for the third quarter of 2007, but a related earnings conference call with analysts Nov. 7 was punctuated by discussion of the federal investigation involving the company's off-shore entity, International Racing Group.
Just as severe weather played havoc with many facets of the 2007 Breeders' Cup, the blustery, sloppy conditions hit the bottom line of handle figures at Monmouth Park during the first-ever two-day World Championships.
A total of $111,903,685 was wagered from all sources on the 11-race Breeders' Cup World Thoroughbred Championships card at Monmouth Park Oct. 27, according to preliminary data, a decline of 20.3% from the all-time record set at Churchill Downs last year.
A new all-sources handle of $30,370,671 was established for Monmouth Park during the Oct. 26 running of the Breeders' Cup World Championships, the track has reported.
The National Thoroughbred Racing Association (NTRA) and Equibase Company have released the "Thoroughbred Racing Economic Indicators" for pari-mutuel wagering in the United States and Canada.
Turfway Park ended its 2007 fall meet Oct. 4 with increases in on-track wagering and declines in all-sources wagering on its races compared with the same period in 2006.
An increase in field size and familiarity with the product has led to some growth in business at Presque Isle Downs, which began its inaugural meet Sept. 1.
Del Mar closed its 2007 meeting Sept. 5 - and its first with a synthetic surface - with its second-highest gross handle ever and a small increase in attendance, the Southern California track reported.
Evangeline Downs Racetrack & Casino's recently concluded 2007 spring/summer season showed across-the-board gains in several major categories, including total handle, on-track handle, purse distribution, and average field size for the 89-night meet.
Saratoga wrapped up a strong 36-day meet Sept. 3 with solid gains in total handle, on-track handle, and attendance, and even set a record along the way.
The chairman of the Hong Kong Jockey Club said tax rates and regulations need to be reviewed in order for the racing entity to compete at a time of great change.
Through the fifth week of the Saratoga meet, attendance is up 6% from last year, on-track handle is up 7.5%, and total handle is up 6.1%, according to figures released by the New York Racing Association.
Laurel Park's "Ten Days at 10 Percent" promotion didn't produce the desired results as far as handle is concerned, but track officials said the concept--cutting pari-mutuel takeout in half--should continue to be explored.
Attendance, on-track handle, and all-sources handle remain up through three weeks of the Saratoga meet when compared with figures for the comparable period in 2006, the New York Racing Association announced Aug. 13.
Attendance, on-track handle, and total handle remained up through the first 11 days of racing at Saratoga.
Attendance, on-track handle, and total handle remained up through the first 11 days of racing at Saratoga Race Course.
- By Tom LaMarra
Handle during the multi-faceted Hong Kong Jockey Club racing season topped the HK$100-billion mark for the first time in 2006-07, but officials said there's still much work to be done.
Belmont Park's on-track handle, including simulcasts, increased 4.3% at the recently-concluded 59-day spring/summer Meet, the racetrack announced July 27.
Purses and pari-mutuel handle were up slightly in the second quarter of this year compared with the same period in 2006.
Hollywood Park closed its 63-day spring meet July 15 with a record average in all-sources handle, fueled by increases in on-track and advance deposit wagering, the Inglewood, Calif. racetrack reported.
A lucrative meet at Fair Grounds and the advent of slot machines at race meets in Florida and Pennsylvania fueled a 13% hike in purses for the first quarter of 2007, but handle was down.
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."
Steady growth in interstate wagering, total handle and purse payouts highlighted the 81st season of live thoroughbred racing at Tampa Bay Downs, which ended May 6. The Oldsmar, Fla., track also celebrated a record single-day attendance May 5 when a crowd of 11,014 witnessed Tampa Bay Derby (gr. III) winner Street Sense capture the 133rd Kentucky Derby.
With one day remaining in the 15-day spring meet, Keeneland's wagering went over the record mark Thursday.
Fueled in part by all-source handle declines at such meetings as Del Mar, Arlington Park and Monmouth Park, overall wagering on United States racing in the third quarter of 2006 dropped by nearly $7 million.
Officials representing virtually every major racing country around the world with pari-mutuel betting have taken the first step toward creating huge pools through international commingling that could revolutionize the sport.
Kentucky Downs saw drops in both on-track and all-source gross handle totals during its rain-marred meet that concluded Sept. 26.
The mixed meet at Prairie Meadows Racetrack & Casino experienced a 12.5% increase in overall betting per day, but a 4.6% drop in on-track wagering.
Del Mar officials said the second half of the Southern California racetrack's 43-day meet helped offset on-track declines caused by unusual heat and humidity early in the season.
Ellis Park posted gains in average daily on-track wagering and attendance for its 36-day meet that ended Sept. 4, its first effort since a tornado damaged the Henderson, Ky., complex last November.
Though on-track numbers were down at Colonial Downs, the Virginia racetrack reported gains in off-track business for its 41-day meet that ended Aug. 12.
River Downs and Thistledown combined July 6 for what is believed to be an all-time one-day Thoroughbred handle record for the state of Ohio.
Youbet.com handled $4.2 million Preakness Stakes (gr. I) day to top last year's same day handle by 18.5%. The May 20 figure is the second-highest in the history of the account wagering service.
On the heels of an announcement by Beulah Park officials that the track's winter/spring meet produced an all-time record handle, the Ohio Horsemen's Benevolent and Protective Association claims the success did little for purses.
The Maryland Jockey Club reported Saturday night that a record crowd of 118,402 was on hand for the 131st Preakness Stakes (gr. I) in Baltimore.
Youbet.com and Harrah's Louisiana Downs have joined forces on a multi-year program that will make the online wagering company the official wagering provider for the Bossier City, La., racetrack.
Lawmakers will tackle the complicated issue of Internet gambling during a two-hour hearing June 2 during a meeting of the National Council of Legislators from Gaming States in Boston.
Beulah Park in Grove City, Ohio, set an all-time handle record during its 75-day winter/spring meet that spanned Jan. 7-May 6.
TV Games Network set a one-day handle record of $7,555,958 Kentucky Derby day, May 6. The amount was up 18% from Derby day in 2005.
Youbet.com, the online wagering company with headquarters in Southern California, handled $5.6 million Kentucky Derby day, May 6, an increase of 34% from 2005 and the highest one-day amount in the history of the company.
The National Thoroughbred Racing Association (NTRA) and Equibase Company released the "Thoroughbred Racing Economic Indicators" for United States and Canadian pari-mutuel wagering on U.S. Thoroughbred racing during the first quarter of 2006, as well as for U.S. purses and race days, with prior-year, first-quarter comparisons.
The first meet with a Polytrack surface proved not only to produce solid footing but also solid financial figures.
The National Thoroughbred Racing Association and Equibase Company reported Wednesday that pari-mutuel handle and purses declined in the U.S. last year, primarily a result of racing cancelled due to weather.
The National Horsemen's Benevolent and Protective Association may look for ways to pursue legal action to stop signal piracy and recover what they believe is their fair share of revenue from wagering on Thoroughbred racing.
Beulah Park set an all-time one-day handle record, while Turfway Park has increased purses because of business gains.
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