Shares of Scientific Games Corp. tumbled to its lowest point in more than three years Jan. 16 as the lottery services supplier reeled from the loss of its third online contract within a month.
The New York City Off-Track Betting Corp. will cease operations June 16 unless state officials provide regulatory relief before then, according to a Jan. 16 report to the corporation's board of directors.
On-track handle at Calder Race Course fell 24% during the 2007 portion of its Tropical meet, according to data obtained from the Florida Division of Pari-Mutuel Wagering. Calder's simulcast handle fell 26% compared with the same period in 2006.
Jokes aside, there could be progress on the pari-mutuel pricing front if comments by industry officials are any indication.
The question of whether state legislators should become more involved in pari-mutuel pricing and distribution continues to be asked, and at this point, there doesn't appear to be an answer--at least a definitive one.
The head of a national organization of regulators told legislators Jan. 4 issues related to pari-mutuel integrity and security need "serious attention," and alleged available resources are being neglected.
After cutting its daily purses about 7% in early November, Calder Race Course quietly restored the money during the final weeks of its meet that ends Jan. 2. But questions concerning Calder and other South Florida tracks linger into the new year.
The New York Racing Association has entered into a content exchange agreement with TrackNet Media Group for 2008, NYRA officials said Dec. 28. In addition, NYRA has new deals with TVG and Youbet.com for the upcoming year.
Churchill Downs has announced the dates for the three wagering pools that will comprise the track's 2008 Kentucky Derby Future Wager and Kentucky Oaks Future Wager.
The current pari-mutuel structure has captured the attention of state legislators who will discuss the situation--and whether or not they need to get involved--during the National Council of Legislators from Gaming States winter meeting Jan. 4-6, 2008.
The Horsemen's Benevolent and Protective Association of Ontario is the latest horsemen's group to join the Thoroughbred Horsemen's Group, which was established Dec. 5 to facilitate simulcast activities for horsemen and improve pari-mutuel economics.
The United States and European Union struck a new trade agreement Dec. 18 that will greatly lessen the fight over offshore Internet gambling.
The Kentucky Horse Racing Authority will form a subcommittee to investigate an incident in which wagering on a Fair Grounds race at Keeneland remained available while a race was in progress, officials said Dec. 17.
Eight horsemen?s groups from around the United States have joined together to form a coalition designed to improve racing economics, specifically in the area of generating more purse revenue from interstate simulcasts.
Efforts to formulate regulations for the Unlawful Internet Gambling Enforcement Act of 2006 continue to be shadowed by a conflict between the United States and other countries over a trade dispute.
The head of the National Horsemen?s Benevolent and Protective Association has suggested the horseracing industry create an entity to assist in the marketing and distribution of its product, in this case racing signals.
The first two-day Breeders' Cup World Championships will feature some pari-mutuel firsts as well.
Favorites at Woodbridge, the first off-track betting parlor operated by the New Jersey Sports and Exposition Authority, is scheduled to open Oct. 17.
The pari-mutuel simulcast of the Breeders' Cup World Championships will be offered in Brazil for the first time via Carnegie Cooke & Co., the media and distribution company that offers pari-mutuel services in the country said in a release.
The National Thoroughbred Racing Association (NTRA) and Equibase Company have released the "Thoroughbred Racing Economic Indicators" for pari-mutuel wagering in the United States and Canada.
An increase in field size and familiarity with the product has led to some growth in business at Presque Isle Downs, which began its inaugural meet Sept. 1.
The topic of late odds changes continues to shadow the pari-mutuel industry.
Saratoga wrapped up a strong 36-day meet Sept. 3 with solid gains in total handle, on-track handle, and attendance, and even set a record along the way.
The chairman of the Hong Kong Jockey Club said tax rates and regulations need to be reviewed in order for the racing entity to compete at a time of great change.
The 15th International Simulcast Conference in Kansas City, Mo., Sept. 17-19 will focus on the impact of 21st-century technology on the pari-mutuel industry and the wagering routine of North American bettors.
The Indiana Horse Racing Commission's ban on the import of signals from Arlington Park and Calder Race Course turned out to be short-lived.
Horseplayers in the United States will be able to wager directly into Hong Kong Jockey Club pools under a plan approved by the Nevada Gaming Commission.
Hearing complaints from fans and state legislators, the California Horse Racing Board tried to tackle two fronts on how to maintain integrity for the sport: late wagers and board conflicts.
It appears the simulcast signals from Arlington Park and Calder Race Course could be pulled from other Indiana wagering outlets, this time at the urging of the Indiana Horse Racing Commission.
The Jockey Club has weighed in publicly on the topic of account wagering economics, urging the pari-mutuel industry to urgently work together to devise a model that benefits horsemen, racetracks, and patrons.
Account wagering, one of the more pressing issues facing the pari-mutuel industry, will be front and center Aug. 19 during The Jockey Club Round Table Conference in Saratoga Springs, N.Y.
Horseplayers upset over the current state of account wagering in the United States are attempting to drum up support for a petition drive aimed at asking the industry's top organizations to intervene.
Agua Caliente has formed a compliance program that establishes a committee to help the organization improve efforts to adhere to regulations in domestic and international jurisdictions in which it does business.
Attendance, on-track handle, and all-sources handle remain up through three weeks of the Saratoga meet when compared with figures for the comparable period in 2006, the New York Racing Association announced Aug. 13.
- By Tom LaMarra
Handle during the multi-faceted Hong Kong Jockey Club racing season topped the HK$100-billion mark for the first time in 2006-07, but officials said there's still much work to be done.
New York Gov. Eliot Spitzer has vetoed legislation advocates said would have made it easier for tracks and off-track betting corporations to begin bettor rebate programs as a way to compete with off-shore entities and others in the pari-mutuel wagering industry.
New York racing regulators July 31 adopted a series of new rules, including more restrictive prohibitions on betting by racetrack mutuel tellers and final action on a provision to combat "milkshaking" of horses.
The 10-cent superfectas that have become popular at North American racetracks will make their Breeders' Cup World Championships debut at Monmouth Park Oct. 26-27.
Horsemen are calling for an end to the stalemate over account wagering; and even though providers say they want it to end as well, there doesn't appear to be a resolution in sight.
James Burk and Gary Sproule have been named chief financial officer and chief operating officer of Youbet.com, the company announced July 9.
The National Horsemen's Benevolent and Protective Association will address distribution of racing content, equine drug testing, and health insurance during workshop discussions at its summer convention scheduled for July 19-22 in Williamsburg, Va.
A report by the New York Office of Inspector General to Gov. Eliot Spitzer lists four "general areas of concern" among the four entities seeking the franchise to operate Aqueduct, Belmont Park, and Saratoga, including relationships with rebate shops and bookmakers who take bets on racing from the United States.
The first "Global Bet" will be offered June 10 when wagering outlets in nine countries take trifecta bets on the Prix de Diane Hermes (Fr-I), the French Oaks, from Chantilly racecourse in France.
The United States will no longer have to open itself to foreign providers of betting services, a move the National Thoroughbred Racing Association said will strengthen the online pari-mutuel industry.
The financial results of the two biggest racing days for Churchill Downs Inc. show the company's new revenue model for account wagering can be successful, a company official said.
Legislation calling for a study of Internet gambling, including the impact of the Unlawful Internet Gambling Enforcement Act of 2006, has been introduced in the U.S. House of Representatives.
Major horsemen's groups have banded together to ask racetracks and account wagering providers to make the Triple Crown races available to all wagering services in light of a conflict that is spreading ill will as horse racing's most prominent and lucrative day approaches.
Youbet.com won't be offering Derby wagering this year, but its customers will have a shot at $1 million in a contest tied to the two marquee races at Churchill Downs this Friday and Saturday.
MTR Gaming Group has launched an online account wagering service called RacelineBet.com, which is affiliated with AmericaATB.
A decision by the AmericaTAB account wagering consortium to join TrackNet Media Group is a sign of support for efforts by Churchill Downs Inc. and Magna Entertainment Corp. to end exclusive contracts, an official said.
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