Churchill Downs Inc. reported net earnings from continuing operations of $19.6 million in 2010, up from $17.7 million for 2009.
Legislation that would have diverted gaming funds from several recipients including horse and dog racing in West Virginia has been altered to instead use excess video lottery terminal revenue.
The Family Foundation of Kentucky, in an about-face, is attempting to slow the process by which a ruling on Instant Racing will be issued by the courts.
Penn National Gaming Inc. confirmed March 1 it has closed on the purchase of Rosecroft Raceway, a Maryland harness track it won in a bankruptcy auction.
Cordish Cos. of Baltimore has sued the Maryland Jockey Club and the owners of Indiana Downs for allegedly conspiring to defame the company, which plans to build a slot machine casino at the Arundel Mills Mall in Maryland.
A statewide poll conducted by Baselice and Associates shows 64% of Texans support slot machines at racetracks and Indian reservations.
Two of Ohio's oldest racetracks could be relocating to other Buckeye State cities if owner Penn National Gaming Inc. has its way, but the moves won't come without opposition.
Penn National Gaming Inc. will publicly inform the Ohio State Racing Commission Feb. 10 of its plans to relocate two Ohio racetracks should the state's tracks get video lottery terminals.
The Virginia Senate has again approved legislation authorizing Instant Racing--wagering on historical races--but the bill's reception in the House remains uncertain.
The operators of Aqueduct's future video lottery terminal casino have begun pressing state officials to permit table games at the facility and New York's other racetrack casinos.
Penn National Gaming Inc. said 10 of its 15 gaming properties increased net revenue and that it intends to "expand its presence to any jurisdiction considering the expansion of gaming."
- By Tom LaMarra
Penn National Gaming Inc. believes racetrack gaming can be a major economic driver but shouldn't be viewed as a means to increase pari-mutuel wagering on racing, company president Peter Carlino said.
Pinnacle Entertainment, a Las Vegas-based casino company, said Jan. 28 it has closed on the purchase of River Downs in Ohio for $45 million in cash.
Hialeah Park is moving ahead with plans to build a casino even though three other southeast Florida pari-mutuel outlets are continuing with a lawsuit that challenges its legal right to have slot machines.
Video lottery terminal revenue from two Maryland casinos will fund a 16% increase in purses at Laurel Park effective Feb. 2.
Penn National Gaming Inc. confirmed Jan. 21 there is a possibility it may attempt to relocate one or both of its Ohio racetracks to avoid competition with full-scale casinos the company is building nearby.
The group planning a racetrack, casino, and resort in northeastern Ohio said Jan. 18 "everything will fall into place," but a presentation made during a press conference indicated the project has a long way to go.
An eastern Ohio development company officially announced Jan. 17 plans to construct a racetrack and resort called Mahoning Valley Downs in the Youngstown, Ohio, area.
Democratic Illinois Rep. Lou Lang reiterated Jan. 15 he intends to push legislation authorizing racetrack slot machines and will begin drafting a bill the week of Jan. 17.
The proposed Indiana budget bill includes a line item that would almost cut in half the amount horse racing receives from racetrack slot machines.
Pinnacle Entertainment has named Kevin Kaufman, general manager of its Belterra Casino in Indiana, as general manager of River Downs in Ohio.
The Illinois General Assembly adjourned early the morning of Jan. 12 without voting on a massive expansion of gaming that would have permitted the state's racetracks to install a limited number of slot machines.
A commission overseeing development of video lottery terminal parlors in Maryland said Jan. 11 the state should examine ways to attract more interest in available gaming licenses and study similar operations in other states.
The Maryland General Assembly convenes Jan. 12 for a session expected to include aid for horse racing, but action on the expansion of gambling is questionable.
A bill that would dramatically expand Illinois gaming, including permitting slot machines at the state's racetracks, has advanced to the floor of the Illinois House of Representatives with bipartisan support.
The prospect of changes in Maryland's law governing slot machines has led Baltimore Orioles owner Peter Angelos to again make a bid to purchase bankrupt Rosecroft Raceway, located just south of Washington, D.C.
A Kentucky circuit court judge has ruled draft regulations for Instant Racing "are a valid and lawful exercise" of the Kentucky Horse Racing Commission's statutory authority.
Mountaineer Casino, Racetrack & Resort will offer 210 days of live Thoroughbred racing in 2011 beginning March 1.
Suffolk Downs has been given approval to simulcast dog racing by the Massachusetts State Racing Commission, which recently issued a decision to allow the shuttered Wonderland Greyhound Park to transfer its license.
The Maryland Jockey Club will receive more than $5 million for operations under the parameters of a negotiated agreement that will maintain a full 146-day live Thoroughbred racing schedule in the state.
The Florida Division of Pari-Mutuel Wagering Dec. 21 issued a license for slot machines to Hialeah Park. Gaming could be offered in November 2011, officials said.
Ohio's three Thoroughbred racetracks have mapped out their live racing schedules for 2011, but two of them still have no agreement with horsemen on racing dates.
Issues impacting the long-term health of California horse racing were dissected Dec. 9 and produced a general message: Think outside the box, because the prospect of revenue from gaming is very dim.
- By Tom LaMarra
Churchill Downs Inc. president and chief executive officer Bob Evans said Dec. 7 there are reasons to be optimistic about the future of horse racing -- but not without major changes in the way the industry does business.
Illinois senators approved a major expansion of casino gambling, including racetrack slot machines, Dec. 1, but the measure must now pass the House of Representatives and be signed by Gov. Pat Quinn.
Penn National Gaming Inc. said Nov. 30 its joint venture with MI Developments in Maryland will continue, and that it planned to work on an "expedited basis" to devise a 2011 live racing schedule in the state.
Las Vegas-based Pinnacle Entertainment confirmed Nov. 26 it has a deal to purchase River Downs near Cincinnati, Ohio, for $45 million.
A state court in Tallahassee, Fla., Nov. 22 ruled in favor of Hialeah Park on one count of a lawsuit that challenges its legal right to build a casino with Las Vegas-style slot machines.
An informal poll conducted by the Hall Institute the week of Nov. 15 showed more than half would support installing slot machines at Meadowlands in New Jersey.
New York's largest horsemen's group is among the latest calling on the Paterson administration to halt a looming agreement with a Wisconsin Indian tribe to build a casino in the Catskill Mountains.
With a Dec. 1 deadline on racing dates looming, Maryland horsemen are advocating a schedule similar to that of 2010 even though a shutdown of Laurel Park for live racing and training is on the table.
Faced with making a decision brought about by the battering of the Kentucky horse racing industry, Turfway Park has opted to cut some overnight purses in order to maintain a weekly stakes schedule.
Republican Ohio Gov.-elect John Kasich wants to study a plan to put video lottery terminals at the state's racetracks, a move that has the Ohio Lottery Commission in a holding pattern on the proposal.
Pinnacle Race Course officials shut down the Detroit, Mich.-area track following the end of its live meet Oct. 31 and announced that simulcast operations would be suspended until at least the spring 2011.
There may be growing sentiment in the Kentucky legislature to pass a measure authorizing a constitutional amendment on racetrack gaming, officials indicated after the Nov. 2 election.
The Maryland Jockey Club will map out a plan for the future over the next several weeks and the closure of Laurel Park for live racing and training remains a real possibility, officials said Nov. 3.
Voters in Anne Arundel County, Md., approved a ballot measure that grants zoning for a slot machine casino at the Arundel Mills Mall.
A plan to put slot machines at Arundel Mills Mall instead of Laurel Park is the driving force of a Nov. 2 referendum in Anne Arundel County, Md.
Pinnacle Entertainment Inc. reported a reduced net income loss for the third quarter and said it's looking to expand into new markets while adhering to "disciplined capital-spend and return metrics."
Hoosier Park Racing & Casino in Indiana reported strong across-the-board gains for its 2010 meet that ended Oct. 24.
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