A surplus in the Kentucky Thoroughbred Development Fund will allow Turfway Park to increase purses for allowance and maiden special weight races through the end of its winter/spring meet.
Legislation authorizing a more liberal use of the Kentucky Thoroughbred Development Fund sailed through a Senate committee Jan. 14.
The measure provides that horses running in allowance optional claiming races for a claim price of at least $25,000 will be eligible for money added to purses from the Kentucky Thoroughbred Development Fund.
Wagering on historical races in Kentucky generated more than $3.8 million for purses and the state Thoroughbred Development Fund from September 2011 through December 2012.
When Kentucky Downs conducts its short, all-turf meet in September, it will offer some of the most lucrative purses in the Bluegrass State this year, thanks to the success of Instant Racing.
Legislation that would tax pari-mutuel wagers made by Kentucky residents through advance deposit wagering services passed the House of Representatives by a 79-15 vote Feb. 24.
Legislation that would tax pari-mutuel wagers made by Kentucky residents through advance deposit wagering services was approved in committee Feb. 21 and heads to the House of Representatives.
The Kentucky General Assembly probably will consider legislation in 2012 that taxes bets made by Kentucky residents through advance deposit wagering systems to bolster the Kentucky Thoroughbred Development Fund.
A committee has approved use of $100,000 from the Kentucky Thoroughbred Development Fund for several Kentucky Cup races, but it remains to be seen whether the stakes series--at least part of it--will be run.
Efforts to restore the Kentucky Cup Day of Champions at Turfway Park in September are ongoing, but the return of the stakes program could hinge on sponsorships.
Members of an advisory committee that oversees the Kentucky Thoroughbred Development Fund expressed concern June 8 over diminishing revenue for the program as well as one racetrack's suspension of full-card simulcasts.
The Kentucky Senate passed a bill March 3 authorizing the licensing of advance deposit wagering companies and a requirement that they report pari-mutuel handle on Kentucky races.
Unlike 2009, when purses and live racing days were cut, Ellis Park reported solid numbers for its 27-day meet that ended Sept. 6.
Ellis Park will offer higher purses for some Kentucky-bred horses under a plan approved by the Kentucky Thoroughbred Development Fund advisory committee.
The board of directors of the Kentucky Thoroughbred Owners and Breeders (KTOB) honored the breeders of the 2007 Kentucky-bred champions and the Kentucky Thoroughbred Development Fund (KTDF) leaders at its annual luncheon April 23 at Keeneland.
Turfway Park has increased association purses 10% effective March 2. It's the second purse hike of the winter/spring meet.
The Kentucky Auditor's Office has released reports that show the Kentucky Horse Racing Authority needs stronger financial management and accountability.
The Kentucky Horse Racing Authority has approved an agreement that erases a deficit in the Kentucky Thoroughbred Development Fund and establishes tighter accounting procedures to preclude a similar deficit buildup in the future.
The Kentucky Thoroughbred Owners and Breeders has named Saint Liam as the state-bred Horse of the Year and Baby Zip as Broodmare of the Year.
The Kentucky Horse Racing Authority has requested the state auditor conduct an audit of the Kentucky Thoroughbred Development Fund after it discovered two shortfalls as a result of overpayments during meets conducted at Ellis Park.
Turfway Park has hiked purses for Kentucky-breds in some high-level races, and also reported that numbers for the first nine live racing days of 2004 show business is on the rebound.
Registration fees for eligible Kentucky-breds will jump by 50% to 100% under a plan approved Oct. 2 by the Kentucky Racing Commission at the request of the Kentucky Thoroughbred Owners and Breeders.
Ellis Park has raised the purse money of four stakes races to be run at the Henderson, Ky. track's upcoming summer meeting.
Churchill Downs has announced a 5 percent increase in overnight purses for its Spring Meet races, effective June 5.
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