Penn 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.
Expanded 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.
Thoroughbred 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.
Presque 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.
The 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.
Several 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.
Florida's first slot machines were delivered to the new Gulfstream Park Racing and Casino Oct. 20.
Gulfstream Park said Oct. 13 it has received a gaming license from the state of Florida.
Tax 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.
A 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.
The 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.
Pennsylvania 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.
A 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.
New 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.
Pennsylvania gambling regulators began licensing hearings Sept. 11 that will be a prelude to authorizing slot machines at racetracks later this year.
Bally 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.
Jockeys 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.
Retired jockey Laffit Pincay Jr. went to Sacramento, Calif., on Wednesday to plead for help for California's embattled racing industry and jockeys.
Finger 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.
Bally Technologies, headquartered in Las Vegas, will provide a casino management system for the slot-machine operation planned for Philadelphia Park in southeastern Pennsylvania.
With 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.
Magna 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.
Magna 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.
Magna 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.
A 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.
Supporters of video lottery terminals at the seven racetracks in Ohio have submitted 624,625 signatures to put the issue on the November ballot.
Hearings 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.
Amid 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.
Kevin 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.
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.
- By Dan Liebman
By 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.
The first phase of a multimillion-dollar renovation to the grandstand in anticipation of slot machines is nearly complete at Philadelphia Park.
After 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.
Supporters 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.
The 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.
The 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%.
The 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.
Fred Havenick, who spearheaded the campaign to bring slot machines to pari-mutuels in South Florida, died Wednesday of lymphoma. He was 62.
Jim 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.
Supporters of video lottery terminals at Ohio racetracks have started circulating petitions to put the issue on this year's November ballot.
Magna 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.
Broward 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.
Churchill 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.
The 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.
Three 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.
Unable 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.
As 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.
Ohio 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.
The 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.
The 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.
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