The New Jersey Racing Commission expects to consider a "participation agreement" for distribution of revenue from account and off-track wagering at an Aug. 18 meeting at which the stakeholders are expected to apply for a license to begin account betting.
The New Jersey Senate Wagering, Tourism, and Historic Preservation Committee on June 7 approved a bill that would permit the state to lease Monmouth Park and Meadowlands, two racetracks operated by the New Jersey Sports and Exposition Authority.
The Indiana Horse Racing Commission April 21 called for an economic impact study on the impact of having--or not having--Kentucky signals available at the state's racetracks and off-track betting parlors.
A "master participation agreement" between the three entities that operate racetracks in New Jersey as to how they intend to divide the 15 potential off-track wagering sites in the state will be considered at the Feb. 18 meeting of the New Jersey Racing Commission. Approval of the deal is seen as the first step toward jump-starting the process of getting OTB parlors operational, perhaps by the end of the year.
A bill that would allow electronic pull-tab machines at Indiana racetracks and two satellite wagering facilities crossed a second hurdle Jan. 21. The House Ways and Means committee approved the legislation by a 17-10 vote and sent it along for consideration by the full House.
Video lottery terminals would be permitted at off-track betting facilities in New York under a plan being considered by state budget negotiators. The idea is being promoted to deal with another huge, multibillion-dollar budget looming over the next two years and a failure by racetracks to get VLTs up and running quickly enough to send revenue-sharing money to the state.
Racing Services Inc., North Dakota-based wagering company, has filed a complaint against Stevenson & Associates for alleged restraint of trade and monopolization in connection with off-track betting parlors in Mexico and Venezuela.
Kentucky Off-Track Betting Corp., owned by four of the state's racetracks, celebrated its 10th anniversary with total handle of $313 million through June 30. The corporation was formed in November 1992.
The first steps of expanding handle in Virginia over the next five years were taken July 1 when the Virginia Racing Commission reviewed an application for a second off-track wagering center in Richmond.
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.
Legislation to allow electronic gaming at Michigan racetracks was approved by the state House of Representatives May 22, just two days after the release of a poll that indicated the public overwhelmingly disapproves of the prospect.
Officials in Clark County, Ind., have scheduled a hearing May 12 to discuss a request by Indiana Downs to operate a satellite wagering facility in Jeffersonville or Clarksville. The OTB parlor would be located just across the Ohio River from Churchill Downs and its Trackside OTB in Louisville, Ky.
A deal to entice New York racetracks to install video lottery terminals was close the evening of April 28, but officials acknowledged a side deal is being hammered out to bring VLTs to the state's off-track betting parlors.
After months of legal wrangling and negotiations, the New Jersey Sports and Exposition Authority is close to presenting the New Jersey Racing Commission with participation agreements between itself and two other racing companies in the state in regard to account and off-track wagering.
On the sales block just a year ago, New York City Off-Track Betting Corp. is shedding its fire-sale image and moving ahead with plans to bring back bettors and forge new ties with racetracks, its new president said.
A revamped Indiana Horse Racing Commission granted approval July 2 for the proposed Indianapolis Downs to build and operate an off-track betting parlor in Evansville, not far from Ellis Park in Kentucky.
A series of racing laws in New York have been extended by state lawmakers, who failed, however, to act on several other items from an industry wish list involving video lottery terminals and off-track betting corporations.
Magna Entertainment plans to a launch this summer a 24-hour horse racing network that promises to educate and entertain viewers. The Canadian racing conglomerate also is planning a national off-track betting network.
Permission has been granted for the first time ever in New York for an off-track betting corporation to run a racetrack. After years of battling industry opposition and eventually paying hundreds of thousands of dollars to make the critics go away, Western Regional Off Track Betting Corp. was given approval by state regulators Feb. 27 to reopen Batavia Downs.
Despite plans by the new mayor of New York City to delay the sale of New York City Off-Track Betting Corp., the head of the New York Racing Association said he will make a new pitch to purchase the lucrative corporation.
The new mayor of New York City left open the prospect that he may still proceed with the sale of New York City Off-Track Betting Corp., a deal some of his aides are pushing him to make to raise money for the deficit-ridden city. But whether he will proceed with the sale of the $1-billion betting empire that was begun by his predecessor, Rudolph Giuliani, remains a question.
Edward Callahan, vice-president and general manager of Rockingham Park, is demanding a formal public apology from New Hampshire Republican gubernatorial candidate Gordon Humphrey over remarks made during a public hearing of the Ways and Means Committee of the New Hampshire House of Representatives. The committee conducted a public hearing Jan. 15 on four bills to expand gambling.
At its monthly meeting at Meadowlands Wednesday, the New Jersey Racing Commission said it is prepared to advertise regulations regarding account and off-track wagering, the first step toward implementation since legislation was signed into law in August.
Western Regional Off-Track Betting Corp., which controls wagering in a huge, 15-county region in upstate New York, will be allowed to run harness races at Batavia Downs, which is located east of Buffalo. It is the first time an OTB corporation, which in New York are quasi-public agencies, will be permitted to operate a racetrack. Gov. George Pataki must sign the legislation.
Legislation that would legalize off-track and account wagering in New Jersey stalled in a Senate committee Thursday when lawmakers decided to hold the bill up until they can come to a resolution on municipal issues.
All parties that met the city's demand of a bid of at least $250 million remain in the running for ownership of New York City Off-Track Betting Corp., sources close to the situation said Thursday. City officials have strongly denied a published report this week that the field has been narrowed to two bidders -- one group led by the New York Racing Association, and the other by Frank Stronach's Magna Entertainment.