The owner of Colonial Downs reported May 14 an increased first-quarter profit of $3.1 million, helped by the improved performance of its racing subsidiary.
Flush off a quarter in which it saw increased handle and profit, Youbet.com said May 13 it would look at possibly establishing a presence in another country in an effort to expand its wagering offerings beyond horse racing.
The parent company of Canterbury Park Racetrack reported a profit of $438,180 for 2008, which was a decline of more than 80% over the net income in 2007 for the Shakopee, Minn., racing entity.
One day after reporting Magna Entertainment Corp. would not release an annual report due to its ongoing bankruptcy proceedings, controlling shareholder MI Developments released data showing MEC posted its highest-ever annual loss in its brief history, though it's not exactly clear what the final tally is.
Profits from continuing operations at Churchill Downs Inc. grew 71% in 2008, the company reported March 4, despite handle drops at all of its racetracks.
Flush with settlement funds from a failed buyout attempt from private equity groups, Penn National Gaming Inc. said July 24 it is ready to examine the many options it has for its future.
- By Ryan Conley
Fewer than half the 17 horses previously sold at auction produced a resale profit after going through the sale ring at the Aug. 6 opening session of the Fasig-Tipton Saratoga yearling auction.
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