Racetrack and casino owner Penn National Gaming Inc. reported a 9.6% increase in net revenues for 2015 compared with 2014.
- By Frank Angst
- Thoroughbred Racing, Northeast Region, Midwest Region, West Region, Mid-Atlanic Region
Penn National Gaming Inc. reported strong financial numbers for the first three months of 2015 that it attributed to improving regional gaming trends and contributions from new racino properties in Ohio.
The Massachusetts Gaming Commission said Sept. 18 it will offer help for soon to be unemployed Suffolk Downs workers and racing industry stakeholders, but the words rang hollow for the track's chief operating officer.
In November Colorado voters will decide if Arapahoe Park will be allowed to add casino-type gambling. The Denver Post reports Colorado Secretary of State Scott Gessler determined enough signatures had been submitted.
A Kentucky newspaper is reporting that the Kentucky House Speaker does not expect state lawmakers to move forward on any bills that would expand gambling in the state.
With the new, $88-million Meadowlands Racetrack scheduled to open for live Standardbred racing Nov. 23, Jeff Gural understandably has a case of the jitters.
A casino proposal offered by New York Gov. Andrew Cuomo will "cannibalize" as much as 85% of the state's current gambling industry, a racetrack casino association said June 11.
Indiana race tracks could move a step closer to being allowed to add table games on Wednesday, Jan. 23 when a state Senate committee considers changes to gambling laws.
The Texas Racing Commission has approved Nevada-based Pinnacle Entertainment to purchase 75.5% of the racing assets of Retama Park in San Antonio.
New York's nine racinos saw their highest-ever win-per-machine totals during the recent July 4 holiday week on the more than 17,000 video lottery terminals operating in the state.
How long will racino operators, legislators support racing's side of the business? read blog
- By Tom LaMarra
Talking out both sides of the mouth ... and trying to make sense of it all. read blog
The governor of New York is still not ready to divulge where he thinks new casinos should be located in the state, but said people are in a "state of denial" if they think casino gambling does not already exist in New York.
Why support an industry that cannot sustain itself? Because wherever this debate occurs, it's important to see that the racetrack is only part of the equation. Read Blog
Evan Hammonds explains how the revenue from casino gaming is causing the biggest shift in the Thoroughbred population. Read Blog
- By Ryan Conley
Even though overall United States casino revenues dropped for the first time this decade, domestic racinos registered double-digit percentage growth in 2008, according to a report issued May 18 by the American Gaming Association.
New York's lottery director caused a bit of a stir this week when he suggested to state lawmakers that racetracks are a drag on the profitability of their racino operations - leading to less money going to the state's education budget.
- By Tom LaMarra
Hollywood Casino at Penn National opened on time Feb. 12 with bells and whistles--and with a rousing alarm and taped recording telling everyone to vacate the building.
Another fight is brewing over whether Michigan's racetracks should be allowed to add casino-style gambling.
- By James Platz
Legislation that would allow slot machines at Indiana's two pari-mutuel racetracks was endorsed by a Senate committee on a 9-3 vote March 20, but there are concerns about a $400-million license fee each track would have to pay for the right to operate slots.
Despite some inconveniences in the facility, horsemen at Philadelphia Park welcome the anticipated benefits as slots became a reality Tuesday.
A petition drive to allow a vote on video lottery terminals at Ohio racetracks was 8,716 signatures short as of Aug. 30, but more will be submitted within the next two weeks.
- By Tom Precious
New York Gov. George Pataki is offering $10 million in immediate aid to help keep the ailing New York Racing Association from insolvency, and he pledged to work with legislators on another measure to lend NYRA cash against its future gaming proceeds.
The horse racing industry should exploit the growth of sports betting, broaden its distribution, and develop new content rather than looking to racinos as an industry "savior," according to Scientific Games chairman and chief executive officer A. Lorne Weil.
Plans for a racino at Canterbury Park continued to progress through the Minnesota legislature when the House Committee on Regulated Industries approved a bill March 29 and sent it to the House Committee on Taxes.
Canterbury Park has unveiled a legislative proposal to support a $120-million racino development at its 380-acre site in Shakopee, Minn.
Tom Meeker, president and chief executive officer of Churchill Downs Inc., told racetrack and gaming officials Tuesday that racing has become a remedy for state deficits rather than a means for economic development.
Planners of a Thoroughbred racetrack near Erie are weighing two location options pending a Sept. 15 license amendment decision from the Pennsylvania Horse Racing Commission.
Canterbury Park in Minnesota will open May 14 with a 10% increase in purses. The daily average will be $138,000, the highest since the track reopened in 1995.
Canterbury Park will kick off its 63-day Thoroughbred and Quarter Horse meet May 16. Highlight of the spring/summer season is the $550,000 Claiming Crown, a five-race series scheduled for July 19.
A survey of Minnesota residents indicates 70% support a plan to open a racino at Canterbury Park as a means to raise revenue for the state budget.
Monday's vote is the first time a bill of this kind has passed out of committee in Minnesota.
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