A third-quarter increase in purses despite a decrease in pari-mutuel handle is attributed to growth in alternative gaming, the National Thoroughbred Racing Association said.
A measure that would repeal the 30% alien withholding tax and allow the pari-mutuel industry to further export racing to foreign markets was approved by the U.S. Senate Monday, Oct. 11.
Barry Schwartz, chairman and chief executive officer of the New York Racing Association, said he would resign effective Dec. 31 and "hand the reigns to someone new who can focus vigorous energy" on setting the future course of the association.
The former president of the Charles Town Horsemen's Benevolent and Protective Association said he would fight charges leveled by the current Charles Town HBPA board of directors over alleged unauthorized loans and purchases while he was in office.
The National Thoroughbred Racing Association, Breeders' Cup Ltd. and Magmic., announced the launch Wednesday of the first officially-licensed horseracing wireless video game in North America, "Breeders' Cup 2004."
A few racetracks have adopted recommendations made last year by the National Thoroughbred Racing Association Players' Panel, but NTRA officials and panel members said Sept. 28 the response generally has been sparse if not disappointing.
Horse racing might be better served by shifting its focus from advertising to public relations to better develop a product consumers will want, a marketing strategy specialist said during the National Thoroughbred Racing Association Annual Meeting and Marketing Summit in Las Vegas.
Horse racing continues to gain ground in popularity and measures up very well compared with other major league sports, according to the latest information from the ESPN Sports Poll.
The National Thoroughbred Racing Association and Breeders' Cup are well under way in mapping out a long-range strategy that apparently will bring changes in programs and goals as they seek a larger share of the entertainment, sports, and gambling marketplaces.
D.G. Van Clief Jr. was named commissioner of the National Thoroughbred Racing Association by the organization's board of directors during its board meeting at Lone Star Park in Grand Prairie, Texas Sept. 25.
The National Thoroughbred Racing Association will take a leadership role in the refinement of wagering security and infrastructure, its board of directors decided at a third-quarter meeting Sept. 24 in Dallas.
Keeneland will request approval from the Kentucky Horse Racing Authority Sept. 27 to offer a new wager whereby patrons can invest money in a group of predetermined selections during each racing program at the meet that begins Oct. 8.
A mixed reaction greeted the first public presentation of the National Thoroughbred Racing Association Wagering System Task Force report Sept. 20, first day of the International Simulcast Conference in Miami Beach, Fla.
The task force formed to look at why handle is up but purses are down ended up producing a report that tackles other issues such as disclosure of information from wagering outlets, technological limitations in tote systems, and the need for a secure database of wagering information.
The Breeders' Cup board of directors has approved president D.G. Van Clief Jr. as acting commissioner and chief executive officer of the National Thoroughbred Racing Association.
Laura Ries, president of Ries & Ries, an Atlanta-based marketing strategy firm, will be the keynote speaker at the National Thoroughbred Racing Association Annual Meeting and Marketing Summit Sept. 26-28 at The Mirage casino in Las Vegas.
Tim Smith, former National Thoroughbred Racing Association commissioner, announced Sept. 4 that he will not become president and chief executive officer of the troubled New York Racing Association.
The 2005 Daily Racing Form/NTRA National Handicapping Championship will return to Bally's Las Vegas with more prize money and a follow-up television special on ESPN.
As the National Thoroughbred Racing Association embarks on its search for a replacement for outgoing commissioner Tim Smith, the intentions of a few top-level NTRA officials have become clearer.
The National Thoroughbred Racing Association said Aug. 15 Lexmark International has reached an agreement to become an official partner of the NTRA and an official partner of the Breeders' Cup World Thoroughbred Championships. The deal begins immediately and runs through July 31, 2007.
Thoroughbred racing continues to take steps on its way to becoming a true league sport, but officials at the Aug. 15 Jockey Club Round Table again beat the drum for cooperation and aggregation in what some still believe is a largely fragmented industry.
The National Thoroughbred Racing Association (NTRA) announced Wednesday that vouchers worth $2.69 million--including a $1-million grand prize--have been mailed to more than 540,000 racing fans as part of this week's NTRA Mystery Mutuel Voucher promotion.
A recently released report on wagering trends concludes the "handle up, purses down" situation isn't new, and that "incentive wagering service providers"--rebate operations--improve the competitiveness of the pari-mutuel industry.
The court-appointed monitor overseeing the New York Racing Association said his job is to bring "structural reforms" to NYRA, not tear it down with "scandal of the week" announcements.
National Thoroughbred Racing Association commissioner Tim Smith tendered his resignation as expected July 27, but there was no announcement that Smith had taken a job as president and chief executive officer of the New York Racing Association.
The board of directors of the Thoroughbred Championship Tour, a proposed owner-driven series of races tied to big-event days, said July 24 it has hired Thoroughbred Owners and Breeders Association president Dan Metzger to serve as president and chief executive officer.
The National Horsemen's Benevolent and Protective Association has adopted a memorandum of understanding with a company that plans to operate an offshore wagering hub, and it also endorsed a draft a report on pari-mutuel economics that suggests high-volume betting shops are important to the industry.
Kentucky Sen. Damon Thayer, vice president of event marketing for the National Thoroughbred Racing Association and Breeders' Cup, was among the representatives of professional and college sports July 23 at a seminar hosted by the United States Department of Homeland Security.
The New York Racing Association's chief executive officer isn't willing to definitively say National Thoroughbred Racing Association commissioner Tim Smith will take over as president, but Barry Schwartz believes the time has come for him to step aside from his full-time NYRA post.
Tim Smith, the first and only full-time commissioner of the National Thoroughbred Racing Association, may resign effective Sept. 1 and could be headed to the New York Racing Association to serve as president and chief executive officer.
Though pari-mutuel handle on Thoroughbred racing in the United States and Canada dropped slightly in the second quarter of 2004, purses increased 2.86%, according to the National Thoroughbred Racing Association and Equibase.
The United States Senate on July 15 agreed by voice vote to send the foreign sales corporation bill, which includes provisions to eliminate the 30% withholding tax on winnings by foreign bettors and reduce the capital gains holding period for horses from two years to one, to conference.
The Breeders' Cup Future Bet won't be offered this year, but an official said he hopes it eventually returns under a format whereby wagering would be offered on more than 24 interests. Meanwhile, talks are under way about a new wager tied to jockey performance in the eight-race series.
PGA TOUR commissioner Tim Finchem will discuss the significance of centralized structure in professional sports and the steps that golfers took to develop successful television programming, corporate sponsorships, and marketing programs when he delivers the keynote address at The Jockey Club Round Table Aug. 15 in Saratoga Springs, N.Y.
The National Thoroughbred Racing Association Wagering Systems Task Force, formed to study why handle is up but purses are down, plans to release its report in August, officials said.
Harrah's Louisiana Downs in Bossier City, La., has rejoined the National Thoroughbred Racing Association.
Youbet.com has joined the National Thoroughbred Racing Association (NTRA) as a special member, the NTRA announced Friday.
Officials of the Thoroughbred Owners and Breeders Association announced Friday that America's Day at the Races will not be held this year, but will return in 2005.
The United States House of Representatives June 17 passed the American Jobs Creation Act of 2004, another step toward possible repeal of the 30% withholding tax on pari-mutuel winnings by foreign bettors on U.S. races.
The Breeders' Cup board of directors June 11 approved agreement in principal with the Thoroughbred Championship Tour based upon the joint proposals of Breeders' Cup and TCT subcommittees, which met in New York the week of May 31.
Smarty Jones and just about anyone or anything connected to him have proven hot commodities in anticipation of a Visa Triple Crown Challenge bid June 5 at Belmont Park.
As the National Thoroughbred Racing Association Wagering Systems Task Force prepares to hear recommendations on ways to address the "handle up, purses down" situation, operators of high-volume betting shops believe they might be a target and suggest that, as generators of up to 15% of annual handle in North America, they should be directly involved in the process.
Breeders' Cup officials said it's far too early to discuss the probability of the World Thoroughbred Championships having to move from Lone Star Park this year because of an outbreak of vesicular stomatitis in western Texas.
Turfway Park president Bob Elliston has been elected to represent the independent Midwestern racetracks on the National Thoroughbred Racing Association board of directors.
The National Thoroughbred Racing Association anticipates bottom-line revenue for 2004 will come in at $400,000, up from $307,895 in 2003. Total operating revenues are expected to increase by more than $6 million this year.
The Imus Ranch, a retreat for children fighting cancer, is $123,000 richer thanks to a National Thoroughbred Racing Association promotion in which Don Imus, the popular host of WFAN's nationally syndicated "Imus in the Morning" program, wagers $10,000 on each race in the VISA Triple Crown.
A major corporate tax bill under consideration in the United States Senate includes a few provisions for the pari-mutuel industry, including elimination of the 30% withholding tax on bets made by foreigners.
Isidore Sobkowski, previously chief technology officer at Self Service Technologies in Stamford, Conn., has been special consultant on technology and interim director of the National Office of Wagering Security.
The National Thoroughbred Racing Association (NTRA), Breeders' Cup Limited and NTRA Purchasing has announced a program linking horsemens support for the sponsorship of Dodge with increased purse money. The program, entitled Dodge Drive to the Finish Line, is intended to provide incentive to NTRA member horsemens' associations to promote and sell Dodge vehicles in return for a reimbursement in the form of increased prize money.
The National Thoroughbred Racing Association and Breeders' Cup unveiled a promotion April 21 that offers Breeders' Cup Stakes purse enhancements tied to the sale of Dodge vehicles.
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