Horsemen hashed out the issue of high-volume bettors and rebates Jan. 13, and in the process got a fairly detailed look at their impact on pari-mutuel Thoroughbred racing in the United States.
The Stronach Group has officially acquired the racing and gaming assets of MI Developments, a company once headed by Frank Stronach.
- By Tom LaMarra
Churchill Downs Inc. and Daily Racing Form are at odds over the publishing company's launch of an advance deposit wagering system powered by XpressBet.com, which is owned by CDI rival MI Developments.
When state veterinarian Bryce Peckham presented his monthly report to the Kentucky Horse Racing Commission on May 11, it was met with an unusual amount of enthusiasm from the regulators.
TVG announced June 8 an agreement with TrackNet Media Group that allows its affiliated Web sites -- TwinSpires.com and XpressBet.com -- to accept online wagers on TVG-exclusive racetracks.
Led by strong performances from Twinspires.com and Youbet.com, collective handle for the four largest domestic advance deposit wagering platforms increased by roughly 15% in the first quarter of the year, while their overall share of the national betting pie grew by more than 2%.
Wagering on the Churchill Downs spring meet may again be restricted to customers of certain betting outlets, although negotiations appear to be ongoing to include some that are on the outside looking in.
A trio of large domestic advance deposit wagering companies is facing a shut-off of operations in Maryland unless a new agreement for revenue sharing is reached, the Maryland Racing Commission said recently.
Even though TVG, TwinsSpires.com, and XpressBet.com enjoyed handle growth in 2008, total wagers processed by advance deposit wagering entities through hubs in Oregon decreased for the first time this decade, though the numbers are skewed by actions related to another member of the "Big Four," Youbet.com.
Magna Entertainment Corp. announced March 5 it filed for Chapter 11 bankruptcy protection, and also unveiled a plan to sell many of its assets, including Gulfstream Park in Florida, Golden Gate Fields in California, and Lone Star Park in Texas.
Here's a fact: Some domestic advance deposit wagering outlets are openly offering cash rebates to customers that wager on California racing signals.
Thoroughbred racing's all-time winning jockey Russell Baze and three of his colleagues will fly up from Northern California to take on four of the top riders at Portland Meadows Jan. 7 in the first Golden Gate versus Portland Meadows Jockey Challenge sponsored by XpressBet.
Magna Entertainment Corp., which posted a $21.25-million loss for the second quarter of 2008, said Aug. 5 it's reconsidering the sale of some assets it expected to unload as part of a debt-elimination plan.
Magna Entertainment Corp.'s HorseRacing TV will now be carried on DISH network, beginning July 15. HRTV features television coverage of 13 racetracks owned, operated or managed by MEC.
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