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Harrah's Entertainment Inc., the world's largest casino company, said Tuesday that its board has accepted a $17.1 billion buyout offer from two private equity groups.
Wednesday, December 20, 2006Philadelphia Park will become Philadelphia Park Casino and Racetrack Dec. 19 when it officially begins slot-machine operations in Bensalem Township, Pa.
Tuesday, December 19, 2006With slot machines coming on line next week, Philadelphia Park announced a 40% boost in overall purses for the beginning of the 2007 season.
Thursday, December 14, 2006Presque Isle Downs, currently under construction near Erie, Pa., plans to offer 25 nights of Thoroughbred racing for its inaugural season in September 2007, track officials and horsemen said.
Tuesday, December 12, 2006A proposal that could lead to eliminating the state's $27-million-a-year subsidy to the horse racing industry likely won't make it out of the starting gate.
Tuesday, December 12, 2006The Jockeys' Guild has asked the Pennsylvania Gaming Control Board to consider the catastrophic on-track accident insurance policy at Philadelphia Park before it grants the racetrack a permanent license to operate slot machines.
Tuesday, December 05, 2006With Philadelphia Park about ready to open its slot-machine parlor, gaming at Mohegan Sun at Pocono Downs, located in a much smaller market, has exceeded expectations after the first two weeks of operation.
Friday, December 01, 2006Portland Meadows plans to install Instant Racing machines during its current 2006-07 meet under a plan recently approved by the Oregon Racing Commission.
Wednesday, November 29, 2006MGM Mirage, keeping a watchful eye on developments for New York's Thoroughbred franchise, is preparing to move ahead with plans to construct a casino at Aqueduct.
Tuesday, November 28, 2006Maryland's Thoroughbred industry is likely to be downsized considerably beginning in 2008 unless racetracks are allowed more gambling options such as slot machines, a racetrack executive said Nov. 14.
Wednesday, November 15, 2006Ohio racing interests, stung by the failure of a Nov. 7 referendum that would have allowed video lottery terminals at the state's seven tracks, didn't rule out another attempt and said there could be legislative assistance for the industry in the interim.
Tuesday, November 14, 2006For the third time in 16 years, Ohioans soundly rejected the expansion of gambling in Ohio, this time routing a racetrack-backed proposal to put video lottery terminals at seven tracks and two non-track locations in Cleveland.
Wednesday, November 08, 2006Penn National Gaming Inc. has entered into a definitive agreement to purchase Zia Park Racetrack and its Black Gold Casino for $200 million, the company announced Nov. 7.
Wednesday, November 08, 2006Expanded gambling in Kentucky isn't a front-burner topic right now, but it will be next year when the state holds elections for governor and other top posts, a racetrack official said Nov. 3 during the "Thoroughbred Industry Forum" at Churchill Downs on the eve of the Breeders' Cup World Championships.
Friday, November 03, 2006Thoroughbred racing returns to Delta Downs Racetrack & Casino in Vinton, La., Nov. 1 after a 19- month hiatus brought on by Hurricane Rita. The 88-night season, which runs through March 31, 2007, offers a 39-race stakes schedule worth more than $4 million.
Wednesday, November 01, 2006Presque Isle Downs, a Thoroughbred racetrack under construction near Erie, Pa., was awarded a conditional slot-machine license Oct. 25 and plans to have the reels spinning by mid-February 2007.
Thursday, October 26, 2006The head of a new Maryland panel designed to better market horse racing said he expects the state legislature to reach consensus on slot-machine legislation next year.
Monday, October 23, 2006Several departments of Maryland state government including the racing commission will be part of a marketing task force to be announced Monday (Oct. 23) at the commission's monthly meeting.
Friday, October 20, 2006Florida's first slot machines were delivered to the new Gulfstream Park Racing and Casino Oct. 20.
Thursday, October 19, 2006Gulfstream Park said Oct. 13 it has received a gaming license from the state of Florida.
Friday, October 13, 2006Tax relief for the horse industry, not racetrack gaming, will be the focus of the Kentucky Equine Education Project during the 2007 General Assembly session, according to the chairman of the organization.
Thursday, October 05, 2006A water main break discovered by construction workers early Monday morning forced the cancellation of live racing at Philadelphia Park and could threaten Tuesday's card as well.
Monday, October 02, 2006The Pennsylvania Gaming Control Board approved the first slot-machine licenses in the state Sept. 27, clearing the way for five racetracks to add thousands of machines.
Wednesday, September 27, 2006Pennsylvania gambling regulators are expected to give the state's racetracks the go-ahead Sept. 27 to plug in thousands of slot machines, the biggest step in two years toward making Pennsylvania one of the nation's busiest gambling markets.
Monday, September 25, 2006A referendum to allow video lottery terminals at seven racetracks and two stand-alone casinos in Ohio will be on the November ballot because supporters of the measure have obtained the required number of certified signatures.
Tuesday, September 19, 2006New York's top fiscal officer has warned a state agency that its delay in approving a video lottery terminal casino contract for Aqueduct is costing the state needed revenue and risking bankruptcy for the New York Racing Association.
Tuesday, September 19, 2006Pennsylvania gambling regulators began licensing hearings Sept. 11 that will be a prelude to authorizing slot machines at racetracks later this year.
Tuesday, September 12, 2006Bally Technologies has signed a contract with Magna Entertainment Corp. to provide a complete slot-machine accounting, casino management, and bonusing solution, and a wide variety of gaming devices, at Gulfstream Park.
Monday, September 11, 2006Jockeys at Philadelphia Park again have asked the Pennsylvania State Horse Racing Commission to facilitate an agreement between riders and track management on catastrophic-injury insurance coverage.
Thursday, August 24, 2006Retired jockey Laffit Pincay Jr. went to Sacramento, Calif., on Wednesday to plead for help for California's embattled racing industry and jockeys.
Wednesday, August 23, 2006Finger Lakes Gaming & Racing will add almost 200 video lottery terminals as part of a $4-million expansion, but a top official with owner Delaware North indicated major racing-related projects, such as installation of a turf course and perhaps a synthetic surface, are closely linked to the VLT revenue model in New York.
Sunday, August 20, 2006Bally Technologies, headquartered in Las Vegas, will provide a casino management system for the slot-machine operation planned for Philadelphia Park in southeastern Pennsylvania.
Thursday, August 17, 2006With ongoing declines in Thoroughbred breeding and racing in Ohio, and a possible November referendum for racetrack gaming in the state, organizers of this year's Midwest Regional sale said the industry has reached a "pivotal" point.
Thursday, August 17, 2006Magna Entertainment Corp. said it intends to proceed with the development of a slot-machine facility at Gulfstream Park despite a decision by the Florida District Court of Appeal First District.
Thursday, August 10, 2006Magna Entertainment Corp. chairman Frank Stronach indicated his company hopes to be involved in New York racing on some level, and that it also is working with Churchill Downs Inc. on projects that will benefit the two companies and the industry at large.
Thursday, August 03, 2006Magna Entertainment Corp. reported a slightly smaller net loss for the second quarter of 2006 compared with the same period last year, but indicated a working-capital deficiency of almost $140 million remains a problem.
Thursday, August 03, 2006A racetrack at which all revenue after expenses would go toward the racing product remains in the works and in the running for a license in Pennsylvania, but the individual spearheading the project said it remains to be seen whether it would be a Thoroughbred track without slot machines, or a dual-breed facility with slots.
Wednesday, August 02, 2006Supporters of video lottery terminals at the seven racetracks in Ohio have submitted 624,625 signatures to put the issue on the November ballot.
Tuesday, August 01, 2006Hearings for the companies seeking licenses to operate slot machines at racetracks have been set by the Pennsylvania Gaming Control Board, which could vote on conditional licenses in late September.
Tuesday, August 01, 2006Amid the sound of hammers and drills as Philadelphia Park readies the first two floors of its grandstand in anticipation of slot machines later this year, the Pennsylvania Horse Breeders Association celebrated "Pennsylvania's Day at the Races" July 29.
Monday, July 31, 2006Kevin DeSanctis, president and chief operating officer of Penn National Gaming Inc., will leave the company by the end of this year to form establish his own company.
Thursday, July 27, 2006Magna 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.
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