Jacobs Entertainment announced Jan. 8 the selection of Cushman & Wakefield-Thalhimer to sell the properties formerly used as off-track betting facilities in conjunction with its Colonial Downs in New Kent County, Va.
New York's top fiscal watchdog said payments to racetracks, competition from advance deposit wagering entities, and sharply rising simulcast fees are contributing to increasingly perilous finances at five OTB corporations.
Texas legislators need to legalize ADW and OTBs. read blog
Jockey Club do Rio Grande do Sul announced May 7 that for the first time, racetracks from Brazil and Uruguay will be able to commingle their wagering pools, allowing fans to bet from either country into one system.
Centaur Gaming Jan. 12 said it is closing its off-track betting parlor in Merrillville, Ind., not far from the Illinois and Michgan borders, because of declines in business.
While no agreement is in place and the two sides still disagree on some important details, Colonial Downs and the Virginia Horsemen's Benevolent and Protective Association have moved closer to an agreement.
While acknowledging its decision could jeopardize Thoroughbred racing in the state for this year or even several years, Colonial Downs says it has ceased negotiations with the Virginia HBPA.
State lawmakers in New York are trying again to get legislation approved permitting tracks and off-track betting corporations to work together on race date start times and simulcasting schedules.
With Colonial Downs and the Virginia HBPA failing to reach a contract agreement on this year's race schedule, the track has decided to temporarily close several off-track betting locations.
Declining handle is forcing the closure of the state's only freestanding OTB network.
Penn National Gaming Inc. has signed a lease to renovate a former restaurant in Gloucester Township and turn it into New Jersey's fifth off-track wagering facility, the company announced Jan. 16.
A measure permitting an upstate off-track betting corporation to run gambling facilities in New York City has been sent to Gov. Andrew Cuomo for his veto or signature.
Delta Downs Racetrack Casino & Hotel said Jan. 10 it has been unable to strike a deal with New York offtrack betting corporations for import of its signal.
A bill authorizing small offtrack betting operations in bars and restaurants, and another measure giving Atlantic City Race Course a larger chunk of revenue from casino race books, passed New Jersey legislative committees.
Another off-track betting corporation in New York State is facing mounting fiscal problems and is considering Chapter 9 bankruptcy protection.
A New York lawmaker wants to put the now-defunct New York City Off-Track Betting Corp., out to competitive bidding.
An agreement to permit tracks and OTB corporations in New York to stream live racing over the Internet was approved Wednesday, Dec. 22.
The nation's largest off-track betting corporation, now under federal bankruptcy protection, faces closure in the next 60 days unless the state officials OK its recovery plan.
- By Tom Precious
The New York City Off-Track Betting Corp.'s bankruptcy petition and attempt to alter how it funds the industry risks undermining the state's already hard-hit breeding programs, New York's leading breeding group is warning.
- By Tom Precious
New York lawmakers are rushing to halt a 1% takeout increase on out-of-state pari-mutuel wagers before a law kicks in next week authorizing the higher levels.
By Dan Farley - I was intrigued when I read in Daily Racing Form that of the top 30 finishers in a recent million-dollar handicapping contest in Las Vegas sponsored by the National Thoroughbred Racing Association, six were women.
Fair Grounds Race Course will open five of its Finish Line off-track betting locations Oct. 26, Fair Grounds President and General Manager Randall Soth announced Monday. Four of the OTBs reopening also offer video poker.
- By Nick Hahn
The Virginia Racing Commission May 25 approved an application for Virginia's newest satellite wagering facility near Weber City, which is in Scott County in southwestern Virginia.
- By Tom Precious
A New York state authority that supports Standardbred purses and breeding has lax internal financial controls, according to an audit released Tuesday by state Comptroller Alan Hevesi.
Because of anticipated inclement weather conditions as a result of Hurricane Ivan, all Finish Line off-track betting locations in southeast Louisiana will be closed Wednesday.
- By Tom Precious
The New York Racing Association is filing paperwork stating its intent to sue the New York City Off Track Betting Corporation for undercutting simulcasting fees, the latest in a long line of tussles between the two influential industry groups.
Daily average attendance and handle were off across the board at the recently concluded 38-day Belmont fall meet.
New York City mayor Michael Bloomberg re-appointed David Cornstein as chair of the Off Track Betting Corp. (OTB) on Jan. 10. Cornstein was first appointed to the board in 1994.
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.
- By Tom Precious
Sweeping proposals for new gambling ventures in New York have moved far off the table in the aftermath of the Sept. 11 terrorist attack on the World Trade Center in Manhattan.
- By Ray Paulick
By Ray Paulick -- If the privatization of the New York City Off-Track Betting Corporation was a horse race, the inquiry sign would have lit up immediately after the city's mayor, Rudolph Giuliani, on Aug. 2 announced the bureaucracy would be sold to a group headed by Frank Stronach's Magna Entertainment and Bob Green's Greenwood Racing.
Four New York Racing Association employees have been indicted as part of a probe by state investigators into an alleged money laundering operation. New York City Mayor Rudolph Giuliani cancelled an 11 a.m. news conference at which he was to announce a group led by Magna Entertainment had won the purchase rights to the New York City Off Track Betting Corp.
The New Jersey Assembly on Thursday approved legislation to legalize off-track and account wagering in the state. The measure now moves to the Senate floor.
A deal to sell the New York City Off-Track Betting Corp. still awaits final approval from New York Mayor Rudolph Giuliani, and the delay could thwart the plan for this year.
The New York Off-Track Betting Corp. has made arrangements to carry Hialeah's current meet on its simulcast system. The arrangement was announced Monday.
State racing regulators have begun investigating a nasty new battle between the New York City Off Track Betting Corp. and Monticello Raceway and Vernon Downs after the big betting outfit suddenly stopped simulcasting races from the two upstate Standardbred tracks.
A bill that will enable New Jersey to proceed with off-track betting and telephone account wagering has passed another hurdle.
Several high-profile racing bills suffered quick deaths as the New York legislature ended its 2000 session.
Colonial Downs' interest in opening an off-track betting parlor in a shopping mall was dealt a setback Tuesday night.
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