Kentucky Downs is reporting receipts of more than a half-million dollars from Instant Racing machines during their first five days of operation.
Racetracks across New York Sept. 7 will unveil a plan to amend the state constitution to permit them to offer a complete array of casino gambling as part of a proposal they say will raise revenue for the state and industry.
Amid the uncertainty of reception in the marketplace and a lingering legal challenge, Kentucky Downs officially christened expanded pari-mutuel wagering via Instant Racing machines during an evening reception Aug. 30.
A racing regulator in Ohio said Aug. 21 it will be the middle of October for a decision is made on allowing Penn National Gaming Inc. to transfer the racing licenses of its two tracks to other locations.
With expectations that funding for the New York-bred program will increase about 100% by 2014, officials hope to strike a balance with plans to expand its offerings and rewards for owners and breeders.
MTR Gaming Group, which recently received approval to refinance its debt, reported net income of $2.3 million for the second quarter of 2011. For the same three months in 2010, the company posted a net loss of $500,000.
The New York Racing Association has struck a deal with Resorts World Casino New York by which the gaming company will operate some concessions at Aqueduct, which is being redeveloped to accommodate 4,500 gaming machines.
The New York Thoroughbred Breeders, Fasig-Tipton, and New York Racing Association during an Aug. 13 forum will discuss the future of New York racing and breeding after video lottery terminals begin operating at Aqueduct.
With Republican Gov. John Kasich preparing to sign legislation authorizing racetrack video lottery terminals and horse industry representatives already discussing strategy, a public policy group is ready to fight the plan.
Two consultants will soon issue a report recommending ways for Ohio to improve live racing apart from the anticipated revenue from video lottery terminals.
In a flurry of activity June 28 both houses of the Ohio General Assembly passed legislation allowing racetracks to apply for video lottery terminal licenses.
The Ohio House of Representatives June 23 passed legislation authorizing the relocation of racetracks that are eligible for video lottery terminal licenses.
The Ohio Roundtable, a public policy organization, said an agreement between Republican Gov. John Kasich and casino developers that includes a provision for racetrack gaming is a "clear violation" of Ohio law.
Alternative gaming in Illinois would be good for Arlington Park but could potentially have a negative impact on Kentucky, according to the chairman of Churchill Downs Inc.
Penn National Gaming Inc. said June 16 it has a "definitive agreement" to terminate its partnership in the Maryland Jockey Club.
Ohio Gov. John Kasich's "comprehensive gaming review agreement" includes provisions for the Ohio Lottery Commission to award racetracks licenses to operate video lottery terminals.
The racing industry in New York expressed concerns about new, potent competition after the Obama administration reversed course on federal policy that had blocked Indian tribes from building off-reservation casinos.
Ohio Gov. John Kasich has reached an agreement that will resume construction on casinos in Cincinnati and Cleveland -- and according to published reports permit video lottery terminals at the state's seven racetracks.
Penn National Gaming Inc. officials said April 21 they believe if the question of racetrack video lottery terminals makes the ballot in Texas it has a good chance to pass.
Lawmakers in New York said they plan to put off until next year passage of a measure permitting casino gambling in the Catskills resort region of the state.
Minnesota state Senator Dave Senjem (R-Rochester) and Representative Bob Gunther (R-Fairmont) introduced legislation that would permit the operation of video lottery terminals at Minnesota's two state-regulated racetracks.
The Maryland horse industry continued to make its case for assistance March 16, urging the Senate Budget and Taxation Committee to pass legislation that would shift some revenue from VLTs to support racetrack operations.
The Maryland horse industry made its case March 15 for legislation that would shift gaming revenue from capital improvements to racetrack operations.
Legislation that would have diverted gaming funds from several recipients including horse and dog racing in West Virginia has been altered to instead use excess video lottery terminal revenue.
Two of Ohio's oldest racetracks could be relocating to other Buckeye State cities if owner Penn National Gaming Inc. has its way, but the moves won't come without opposition.
Penn National Gaming Inc. will publicly inform the Ohio State Racing Commission Feb. 10 of its plans to relocate two Ohio racetracks should the state's tracks get video lottery terminals.
The Virginia Senate has again approved legislation authorizing Instant Racing--wagering on historical races--but the bill's reception in the House remains uncertain.
The operators of Aqueduct's future video lottery terminal casino have begun pressing state officials to permit table games at the facility and New York's other racetrack casinos.
Penn National Gaming Inc. said 10 of its 15 gaming properties increased net revenue and that it intends to "expand its presence to any jurisdiction considering the expansion of gaming."
- By Tom LaMarra
Penn National Gaming Inc. believes racetrack gaming can be a major economic driver but shouldn't be viewed as a means to increase pari-mutuel wagering on racing, company president Peter Carlino said.
Pinnacle Entertainment, a Las Vegas-based casino company, said Jan. 28 it has closed on the purchase of River Downs in Ohio for $45 million in cash.
Video lottery terminal revenue from two Maryland casinos will fund a 16% increase in purses at Laurel Park effective Feb. 2.
Penn National Gaming Inc. confirmed Jan. 21 there is a possibility it may attempt to relocate one or both of its Ohio racetracks to avoid competition with full-scale casinos the company is building nearby.
- By Tom LaMarra
Another look at some head-shakers in the horse racing industry, which never fails to produce good material. Read Blog
The group planning a racetrack, casino, and resort in northeastern Ohio said Jan. 18 "everything will fall into place," but a presentation made during a press conference indicated the project has a long way to go.
An eastern Ohio development company officially announced Jan. 17 plans to construct a racetrack and resort called Mahoning Valley Downs in the Youngstown, Ohio, area.
Pinnacle Entertainment has named Kevin Kaufman, general manager of its Belterra Casino in Indiana, as general manager of River Downs in Ohio.
A commission overseeing development of video lottery terminal parlors in Maryland said Jan. 11 the state should examine ways to attract more interest in available gaming licenses and study similar operations in other states.
A Kentucky circuit court judge has ruled draft regulations for Instant Racing "are a valid and lawful exercise" of the Kentucky Horse Racing Commission's statutory authority.
Ohio's three Thoroughbred racetracks have mapped out their live racing schedules for 2011, but two of them still have no agreement with horsemen on racing dates.
Las Vegas-based Pinnacle Entertainment confirmed Nov. 26 it has a deal to purchase River Downs near Cincinnati, Ohio, for $45 million.
New York's largest horsemen's group is among the latest calling on the Paterson administration to halt a looming agreement with a Wisconsin Indian tribe to build a casino in the Catskill Mountains.
Republican Ohio Gov.-elect John Kasich wants to study a plan to put video lottery terminals at the state's racetracks, a move that has the Ohio Lottery Commission in a holding pattern on the proposal.
There may be growing sentiment in the Kentucky legislature to pass a measure authorizing a constitutional amendment on racetrack gaming, officials indicated after the Nov. 2 election.
Beulah Park, which has changed hands several times in its long history, will open its 2010-11 meet Oct. 12 under the new ownership of Penn National Gaming Inc.
Nine years after first being approved, the last major hurdle for the Aqueduct video lottery terminal casino project was cleared Sept. 13 when the state's chief fiscal watchdog gave his approval for the project.
Participants in The Jockey Club Round Table Aug. 22 in Saratoga Springs, N.Y., sought to convey optimism and opportunity in the face of declines in many facets of the Thoroughbred industry.
Total racing dates would continue to drop under 2011 requests submitted by Ohio's seven racetracks Aug. 19.
It has taken three governors four different tries, but Gov. David Paterson and legislative leaders made it official Aug. 17: Genting New York will be the operator of the Aqueduct video lottery terminal casino.
Family Foundation of Kentucky may join a suit seeking a declaratory judgment on the legality of Instant Racing in an attempt to keep open its options.
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