New York Gov. Andrew Cuomo wants to eliminate the state's chief racing industry regulatory body and merge it with an agency that now runs the state's lottery and racetrack VLT programs.
CDI and Youbet.com extend the outside date for termination of their merger agreement, though merger still expected to close in second quarter of 2010
- By Tom LaMarra
Youbet.com reported a small loss for the first three months of 2010, noting there would have been a similar gain if not for $1 million in expenses tied to its impending merger with Churchill Downs Inc.
Youbet.com shareholders voted to approve a merger agreement with Churchill Downs Inc., the company announced April 6.
Churchill Downs Inc. has announced that the United States Justice Department has asked for more information related to its proposed $126.8-million deal to buy online rival Youbet.com.
- By Tom LaMarra
Churchill Downs Inc. is expanding its presence in the advance deposit wagering market with the purchase of Youbet.com for $126.8 million. United Tote is included in the proposed deal.
Penn National Gaming Inc. has asked a Maryland federal court to dismiss a lawsuit brought against the company for alleged securities violations inherent to its failed buyout deal earlier this year, claiming the legal action is an attempt by the plaintiffs to recover bad investment decisions.
The North American Pari-Mutuel Regulators Association and the Association of Racing Commissioners International have set Jan. 1, 2006 as the official date of a merger between the two organizations, though they are now functioning as one, according to a Dec. 6 release.
Edward Joseph Sukley's homebred Purim, unbeaten in three starts, will face seven 3-year-olds in Saturday's American Derby (gr. IIT) at Arlington Park. The American Derby goes as the fifth race and is the first of three graded stakes on the program with an approximate post of 2:56 p.m. CDT.
Unbeaten Purim, 2 1/2-length winner of the Arlington Classic (gr. IIIT) July 2, puts his three-race win streak on the line against seven rivals in the $250,000 American Derby (gr. IIT) for 3-year-olds on the Arlington Park turf Saturday.
The New York Racing Association and Magna Entertainment Corp. again are discussing merger possibilities, two months after the NYRA board flatly rejected a bid by Frank Stronach's company to become financial partners.
The two regulators' associations in North America, during a Dec. 10 meeting in Tucson, Ariz., discussed a potential merger of operations but didn't come to a firm decision. Still, the talks, which will continue, were categorized as positive.
Anchor Gaming, the parent company of United Tote, has agreed to a merger with joint venture partner International Game Technology. If the deal is approved it would create a gaming equipment company with combined annual revenue of $2 billion and control of 60% of the United States market.
Satish Sanan's Clearwater, Fla.-based IMRglobal Corp. will merge with CGI Group of Montreal, Quebec, according to a release from IMRglobal. But the Feb. 22 edition of the St. Petersburg, Fla., Times called it a $438-million stock sale to the Canadian company.
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