Churchill Downs Inc. will terminate about 60 employees because of what it calls "redundancies" in its online betting operations.
Youbet.com said March 18 it had resolved its part in a federal investigation into its former International Racing Group subsidiary, and will not be charged in return for continued cooperation with officials.
A spokesman affiliated with Youbet.com says certain customers of subsidiary International Racing Group have received funds owed by the off-shore rebate shop, which is part of an investigation being conducted by the federal government.
A group of Vernon Downs shareholders filed a lawsuit Nov. 20 seeking to gain control of the upstate New York Standardbred track from Las Vegas investor Shawn Scott.
In a Jan. 31 report filed with the U.S. Securities and Exchange Commission, Magna Entertainment said two of its racetracks have experienced operating losses over the past two years, and the impact will be assessed when the company releases its 2002 financial statement.
California-based Gemstar said it received notice from Nasdaq that it faces delisting because it hadn't filed its most recent quarterly report with the U.S. Securities and Exchange Commission, Reuters news service reported.
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