Colonial Downs will continue with its plan to gradually add more Thoroughbred racing dates, having asked the Virginia Racing Commission for 42 days in 2006, two more than this year and eight more than 2004.
Members of the Virginia Racing Commission want more time and expertise to review the effects the $10 million purchase of the Maryland-Virginia Racing Circuit by Colonial Downs, LP, may have.
Magna Entertainment Corp. and Colonial Downs, L.P. announced Thursday they have entered into an agreement under which Colonial LP will acquire all of the outstanding shares of Maryland- Virginia Racing Circuit, Inc., a subsidiary of Magna Entertainment.
A dispute over account wagering in Virginian could lead to a lawsuit against Colonial Downs, the Richmond Times-Dispatch reported May 19.
Racing fans in Virginia probably will have more outlets at which to place wagers in the coming months. New off-track betting parlors and account wagering are expected to increase handle in Virginia, and ultimately lead to more racing days at Colonial Downs.
When patrons arrive at Colonial Downs this summer for live racing, there will be a few changes, said John Mooney, general manager of Colonial Downs and president of the Maryland-Virginia Racing Circuit.
The Virginia Racing Commission Jan. 15 approved a five-year deal between the Virginia Horsemen's Benevolent and Protective Association and Colonial Downs, and also heard of plans for a $2-million turf festival in the state.
Fresh off of a successful weekend that included the $500,000 Virginia Derby, Colonial Downs officials updated the Virginia Racing Commission July 17 on the progress of its five-week summer meet.
Magna Entertainment has plans to transform Maryland's premier Thoroughbred racetracks into "destination entertainment centers," and apparently expand off-track wagering in the state. At this time, though, officials are reluctant to discuss details.
In what clearly has become one of most interesting race meets in North America, Colonial Downs will kick off its 2002 season the weekend of June 21-23 with 30 races, all of them scheduled for the turf.
The Virginia Racing Commission on Feb. 20 approved a contract between Colonial Downs and the Virginia Horsemen's Benevolent and Protective Association, and also discussed a decline in handle at off-track wagering facilities in the state.
The Virginia Racing Commission may take a more active role in regulating horse racing if the recommendations of a blue-ribbon committee are implemented. The panel suggests a need for more off-track wagering facilities, elimination of a law that mandates 150 live racing dates by 2006, and addition of account wagering.
Colonial Downs was awarded 26 Thoroughbred dates for 2002, and the Virginia track will again race in the summer.
Only weeks before the scheduled opening of its Thoroughbred meet, Colonial Downs still hasn't secured a loan to fund purses for its summer meet. It appears, though, that track owner Jeffrey Jacobs and some horsemen are prepared to provide the funds in the interim.
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