Racetracks

News, Articles, Videos and other content about Racetracks

Help Wanted: Churchill Begins Search for Meeker's Successor

Churchill Downs Inc. announced Thursday that the company had initiated a formal succession-planning process for the position of president and chief executive officer, which is currently held by Thomas H. Meeker. Meeker's current employment contract with CDI will expire in March 2007. Meeker plans to retire from the company and step down from its board of directors upon the expiration of his employment contract.

Centennial (Cella)bration: Oaklawn Turns 100

Brainstorming for ideas to celebrate Oaklawn Park's centennial in 2004, track owner Charles Cella turned into the $6-million man late last summer. At the ripe old age of 67, Cella stunned his colleagues when he said he was going to offer a $5-million bonus to any 3-year-old that swept Oaklawn's Rebel Stakes and Arkansas Derby (gr. II) and then won the Kentucky Derby (gr. I). He also raised the purse of the Arkansas Derby to $1 million.

E-mbarrassing

By T.D. Thornton -- Effort to obtain information from racetracks via e-mail elicits mixed reaction.

Churchill Stock on Roller-Coaster Ride

  • News

After rising to a 52-week high of $37.24 at one point Monday, the price of Churchill Downs' stock had fallen $2.72 (-7.36%) to $34.25 by mid-afternoon Wednesday.

Court Upholds Warrantless Searches at Tracks, Except in Dorms

A federal appeals court has upheld the ability of regulators in New York to conduct unannounced searches of racetracks without warrants to investigate illegal equine drug use and other activities that may affect the integrity of racing in the state. But the 2nd Circuit U.S. Court of Appeals said the investigators from the state Racing and Wagering Board went too far in 1997 when they also searched dormitories used by grooms at Yonkers Raceway

Sun and Fun at Pimlico Belie Industry Problems

For one day, the sun shone on Maryland racing. On July 7, closing day at Pimlico, kids frolicked in the infield, nearly 6,500 patrons risked their dollars on the horses, and Joe De Francis, president and CEO of the Maryland Jockey Club, got dunked in the dunking booth.

Churchill Reports Record Revenues, Earnings for 2000

Churchill Downs Incorporated reported Tuesday that it had record revenues and earnings for the year ended December 31, 2000. Net revenues for the year totaled $362.0 million, a 40 percent increase over $258.4 million in 1999. Net earnings were $19.2 million, a 28 percent increase over $15.0 million last year. Earnings per share for the year were $1.75, compared with $1.72 in 1999.

Magna Reports $9.2 Million Fourth Quarter Loss

Magna Entertainment, the racetrack company chaired by owner-breeder Frank Stronach, reported Monday a net loss of $9.2 million during the fourth quarter of 2000. For the year, the company reported net income of $441,000 on revenue of $413.6 million. The fiscal year profit was a reversal from 2000, when Magna posted a $62,000 loss; the 2000 fourth quarter loss was $3-million.

Fair Grounds Meet Off to Solid Start

Despite intermitent rain and an important NFL football game featuring the local New Orleans Saints, opening week of racing at Fair Grounds produced increased attendance and handle from the previous year. Fair Grounds opened its 129th season of racing Thursday, with a crowd of 7,158, the third-largest crowd at Fair Grounds since the facility reopned in 1997 after it was destroyed by fire.

Most Popular Stories