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Magna Entertainment Corp. has amended its project financing deal with MID Islandi to add bonds of up to $27.75 million to fund design and construction of a slot-machine facility at Gulfstream Park in South Florida.
Thursday, July 27, 2006By Dan Liebman - From the belt buckles to the Longhorns, things are big in Texas. How's this for big--one billion dollars. That's billion, with nine zeros.
Tuesday, July 25, 2006The first phase of a multimillion-dollar renovation to the grandstand in anticipation of slot machines is nearly complete at Philadelphia Park.
Saturday, July 15, 2006After months of wrangling, Magna Entertainment Corporation and the Florida horseman agreed Friday evening to the percentage of slots revenue that will increase horseracing purses at Gulfstream Park.
Friday, July 14, 2006Supporters of video lottery terminals at Ohio's seven racetracks have collected 117,000 more signatures than needed to put the issue on the November ballot, though they must be validated.
Wednesday, July 12, 2006The Pennsylvania Gaming Control Board approved licenses for the manufacturers and suppliers of slot machines June 28, which could accelerate the licensing process for casino operators in the state.
Thursday, June 29, 2006The Pennsylvania Senate passed legislation June 27 that would eliminate an obstacle that has kept slot machine casinos from being licensed. But the bill includes a potentially volatile provision that would raise the tax on casino slots revenue by 4%.
Wednesday, June 28, 2006The three major horsemen's groups involved in racing in Ohio have all endorsed a proposed constitutional amendment to allow slot machines at the state's seven racetracks and two locations in downtown Cleveland.
Tuesday, June 27, 2006Fred Havenick, who spearheaded the campaign to bring slot machines to pari-mutuels in South Florida, died Wednesday of lymphoma. He was 62.
Saturday, June 24, 2006Jim Navolio, who played a key role in the building of the Kentucky Equine Education Project, will retire as executive director of the grassroots organization effective Sept. 1.
Thursday, June 15, 2006Supporters of video lottery terminals at Ohio racetracks have started circulating petitions to put the issue on this year's November ballot.
Tuesday, May 23, 2006Magna Entertainment Corp. has received conditional approval from the Pennsylvania State Harness Racing Commission to sell The Meadows, a western Pennsylvania harness track, for $225 million.
Friday, May 19, 2006Broward County commissioners approved a plan May 9 that's expected to lead to the construction of residential, retail, and office space on Gulfstream Park property.
Wednesday, May 10, 2006Churchill Downs Inc. officials are encouraged by a rebound of their Louisiana operations in the wake of Hurricane Katrina, but it appears slot machines at Fair Grounds won't be operating until mid-2008 at the earliest.
Wednesday, May 10, 2006The Illinois General Assembly has approved and sent to Gov. Rod Blagojevich legislation that would provide as much as $35 million a year in subsidies for Illinois racing--but only for two years.
Friday, May 05, 2006Three groups seeking to legalize video lottery terminals at Ohio racetracks have decided to join forces rather than pursue their own ballot questions, which have generated conflict.
Wednesday, May 03, 2006Unable to strike a deal with the Florida Horsemen's Benevolent and Protective Association on revenue from slot machines, Magna Entertainment Corp. said April 28 it plans to proceed with arbitration under Florida statute to reach an agreement.
Friday, April 28, 2006As Delaware Park begins its 69th season of Thoroughbred racing, management has announced a major Las Vegas-style expansion of the facility pending approval from New Castle County, where the track is located.
Wednesday, April 19, 2006Ohio Attorney General Jim Petro has rejected requests of three groups seeking to put the issue of video lottery terminals at racetracks on the ballot this year.
Thursday, April 13, 2006The grandstand/clubhouse facility at Penn National Race Course is in the final days of its almost 34-year history. Racing fans with a fondness for the track with a mountain view are expected to make the trip for the final two nights of racing.
Friday, April 07, 2006The Massachusetts House of Representatives voted April 5 to defeat a proposal adding 8,000 slot machines to the state's four racetracks, one of which is Suffolk Downs, the historic Thoroughbred facility in East Boston.
Thursday, April 06, 2006Gambling proponents announced a proposed constitutional amendment March 24 to allow video slot machines at the seven racetracks in Ohio. The proposal, which calls for slots at non-track sites in Cincinnati and Cleveland, would also allow voters in counties with racetracks to vote in four years on establishing full casinos with table games in those areas.
Friday, March 24, 2006Ohio racetracks and a Cleveland developer are reportedly close to a deal on language for a November referendum on slot machines at the tracks and three non-track locations.
Wednesday, March 22, 2006At a March 20 statehouse rally in Boston, hundreds of local horsemen, track employees, city mayors, and labor leaders pressed lawmakers for action on a proposal that would add 2,000 slot machines at each of the state's four pari-mutuel facilities.
Wednesday, March 22, 2006A Kentucky House committee approved legislation March 15 to authorize a constitutional amendment on casino gambling, but the substitute measure--believed to have little or no chance of passage in the full House--makes no mention of racetracks or dedicated revenue for state programs, the lynchpins of legislation proposed by the Kentucky Equine Education Project.
Wednesday, March 15, 2006It has been almost two years since Smarty Jones won the Kentucky Derby (gr. I) and slot machines were legalized in Pennsylvania. And while the horse has begun his career at stud, racetracks are still waiting for slots and may encounter some challenges when they finally get them.
Tuesday, March 07, 2006It has been almost two years since Smarty Jones won the Kentucky Derby (gr. I) and slot machines were legalized in Pennsylvania. And while the horse has begun his career at stud, racetracks are still waiting for slots and may encounter some challenges when they finally get them.
Tuesday, March 07, 2006Legislation that would funnel more than $50 million a year to the Illinois racing industry cleared a House committee March 1, but it failed to win enough support after a third reading March 3.
Friday, March 03, 2006Legislation to authorize a constitutional amendment on casino gambling at Kentucky racetracks was introduced Feb. 16 by legislators in the House of Representatives and Senate.
Thursday, February 16, 2006Representatives of operations that have or will have gaming at racetracks left little doubt which half of the equation drives the financial engine, and they indicated marketing horse racing as an entertainment option rather than a gambling enterprise may be the way to go.
Wednesday, February 08, 2006West Virginia lawmakers are considering two bills--one that would prohibit account wagering, and another that would authorize county referendums on the addition of casino-style games at Thoroughbred and Greyhound racetracks.
Thursday, February 02, 2006Bob Farinella resigned Jan. 18 after nearly 12 years as president and general manager of Prairie Meadows Racetrack & Casino in Altoona, Iowa.
Thursday, January 19, 2006New York would add three additional casinos featuring video lottery terminals, which would be permitted to locate near the New York Racing Association's future Aqueduct racino, Gov. George Pataki proposed Jan. 17.
Wednesday, January 18, 2006Magna Entertainment Corp. has received local approval to develop a commercial district at Laurel Park in Maryland.
Wednesday, January 18, 2006Following the refusal of jockeys to ride the remainder of the live card after two races had been completed Jan. 7, Penn National Race Course in Grantville, Pa., announced Jan. 9 it would cancel live racing and training for this week while attempts are made to fix "inconsistent" portions of the racing surface.
Wednesday, January 11, 2006With reconstruction work continuing at Delta Downs Racetrack & Casino in the aftermath of Hurricane Rita, the track's Thoroughbred meet will remain at Evangeline Downs Racetrack & Casino.
Tuesday, January 10, 2006Patrons at Philadelphia Park will find themselves in an unfamiliar world--at least temporarily--by the fall of 2006.
Monday, January 09, 2006Maine Gov. John Baldacci, as promised last June, vetoed a Washington County racino bill Friday.
Saturday, January 07, 2006More than nine in 10 Kentucky voters (92 %) believe they should be given an opportunity to vote on a constitutional amendment allowing for casino gaming even if they are opposed to expanded gambling, according to the finding of a recent survey of 801 Kentucky voters conducted on behalf of KEEP˜the Kentucky Equine Education Project.
Thursday, January 05, 2006Just days after the Illinois Gaming Board revoked the license of Emerald Casino, one-time rival communities once again are preparing to join a prolonged battle for the lucrative riverboat license.
Thursday, December 22, 2005Total handle and purses registered gains during the 167-day Woodbine meet that spanned April 16-Dec. 11.
Thursday, December 15, 2005A dream came true Nov. 21 for Remington Park officials and Oklahoma horsemen. Shortly before 1 p.m., the track opened the doors of its new $35-million slot-machine casino.
Tuesday, November 22, 2005The Kentucky Equine Education Project began lobbying in earnest for its racetrack casino plan with a letter to more than 3,200 community officials outlining how the state's share--a projected $437.5 million a year--from gaming would be spent under proposed legislation.
Tuesday, November 15, 2005In a photo finish Tuesday, voters narrowly approved Oaklawn Park's request to bring additional electronic games of skill to the Hot Springs, Ark., track.
Wednesday, November 09, 2005On the same day it reported a third-quarter loss of $34.5 million, Magna Entertainment Corp. announced it entered into a deal to sell its Pennsylvania operation--The Meadows harness track and a ring of off-track betting parlors in the western part of the state--to Millennium Gaming and Oaktree Capital Management for $225 million.
Wednesday, November 09, 2005A proposal by Illinois House Speaker Michael Madigan to ban riverboat gambling in Illinois has been dry-docked in the state Senate.
Friday, November 04, 2005The Massachusetts horse racing industry is taking a day off Sept. 28 to show its support during a hearing in the state House of Representatives on legislation that could impact the industry.
Tuesday, September 27, 2005Zia Park will kick off its inaugural 44-day season Friday with an 11-race card of Quarter Horse and Thoroughbred racing, with the opening day program highlighted by the $50,000 Premier Stakes for Thoroughbreds at six furlongs.
Tuesday, September 20, 2005The Kentucky Equine Education Project announced its support Sept. 16 for a referendum to amend the state constitution to allow for casino gambling at licensed racetracks. But details of the plan won't be in the form of legislation until Jan. 1, 2006, and officials admitted the final document will be subject to revision.
Friday, September 16, 2005The Kentucky Equine Education Project will unveil what it calls a "bold legislative initiative aimed at increasing the state's revenue for critical services without a broad-based tax increase" Sept. 16 on the steps of the State Capitol in Frankfort.
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