At Large: Things That Make You Go Hmmmm (10)

Talking out both sides of the mouth ... and trying to make sense of it all.

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Churchill Posts Slight Increase in Earnings

Churchill Downs Inc. released its second-quarter results after the close of the stock market July 29, with a slight increase in earnings due to its advance deposit wagering system and slot-machine gaming.

Canterbury Park Reports Lower Profit

The parent company of Canterbury Park reported a smaller first-quarter profit May 13, blaming current economic conditions and increased competition at the racetrack located in Shakopee, Minn.

Youbet Looking Beyond Racing for Growth

Flush off a quarter in which it saw increased handle and profit, Youbet.com said May 13 it would look at possibly establishing a presence in another country in an effort to expand its wagering offerings beyond horse racing.

Colonial Downs Owner Hurt by MTR Gaming

The owner of Colonial Downs reported it lost $4.1 million during 2008, due in part to its investment in MTR Gaming Group, it was reported March 18.

Youbet Reports Rise in Net Income

After turning over a new leaf in management, Youbet.com's net income for the third quarter of 2008 experienced a significant increase in profit from the year before.

CDI: 3Q Earnings Up, Revenues Down

Churchill Downs Inc. more than doubled its net earnings against decreasing revenues from continuing operations in the third quarter, the company announced Nov. 5.

CDI Pleased with Quarterly Results

Churchill Downs Inc. said Aug. 6 it was pleased with its second quarter results despite various challenges that left the company with flat earnings in year-over-year comparison, claiming a high-profile dispute with horsemen had "little impact" on certain aspects of its financial performance.

Penn National Ready to Move Forward

Flush with settlement funds from a failed buyout attempt from private equity groups, Penn National Gaming Inc. said July 24 it is ready to examine the many options it has for its future.

Handle, Purses Drop at Churchill Downs

Churchill Downs' 52-day spring meet closed July 6 with steep declines in handle and purses, likely results of a well-publicized clash between track officials and horsemen over wagering revenue.

Evans: CDI Committed to End ADW Dispute

A leading executive of Churchill Downs Inc. told a gathering of shareholders June 19 that he didn't know when a nasty revenue-sharing dispute with horsemen would be resolved, but promised the company would do its part in reaching a satisfactory conclusion for all.

Horsemen: CDI Owes Wagering Fees, Purses

In a flurry of responses filed recently in federal court, Kentucky horsemen claim Churchill Downs Inc. owes purse funds upwards to $3 million in unpaid fees from wagering revenues, and have asked a judge to force the racetrack company to pay out funds lost from a 20% purse cut.

Horsemen Urged to Stay the Course

Players involved in the fractious negotiations with Churchill Downs over revenue sharing on the evening of May 13 exhorted a gathering of more than 150 horsemen to stay the course in the standoff and support their efforts.

NTRA Reports Revenue Surplus of $3.1M

The National Thoroughbred Racing Association has largely credited its NTRA Advantage program for a $3.1-million revenue surplus for 2007.

Youbet Incurs Fourth-Quarter Losses

Youbet.com reported March 31 it lost $28.7 million in the fourth quarter of 2007 on the same day it was notified by NASDAQ it faces delisting from the stock exchange.

TVG: Wagers Up, Revenues Down

The parent company of TVG Network reported the horse racing television channel realized a 10% increase in wagers processed for 2007, but saw overall revenues decline slightly for the year.

CDI: Multi-Year Proposal for 'Cup

Churchill Downs Inc. says it is sincerely interested in hosting the Breeders' Cup World Championships, so much so that it offered what it considered an "innovative" multi-year plan for regularly staging the annual event at its signature namesake track starting in 2009.

IRG a Hot Topic During Youbet Call

Youbet.com reported a decline in overall handle and increase in total revenue for the third quarter of 2007, but a related earnings conference call with analysts Nov. 7 was punctuated by discussion of the federal investigation involving the company's off-shore entity, International Racing Group.

Lower Slots Tax Bill Part of New Gaming Legislation Filed in Florida

A joint resolution that would allow voters of individual Florida counties to decide if they want specified forms of casino gaming is among at least two pieces of gaming legislation filed for the upcoming session of the Florida Legislature, which begins March 5.

MTR Gaming Hits Two Financial Records in Third Quarter

MTR Gaming Group, the owner of Mountaineer Race Track and Gaming Resort, hits some new financial records for the third quarter but still reported a decline in earnings per share.

Penn National Reports Record Third Quarter

Penn National Gaming, Inc. (PENN: Nasdaq) today reported record third quarter results for the period ended September 30.

Youbet CEO Says Company is Strong and Growing

Youbet.com is on solid footing, according to the California online horse racing and wagering service's top executive. Chief executive officer David Marshall said he expects substantial increases in revenue and to secure additional capital within the next three months.

MTR Gaming Reports Bad Second Quarter

The owner of Mountaineer Race Track and Resort in West Virginia took a huge hit in the stock market Friday morning after releasing poor second quarter earnings.

Magna Has Mixed Second Quarter, Gulfstream Project Delayed

Magna Entertainment reported mixed results for its second quarter on Wednesday and announced it had delayed a major renovation of Gulfstream Park.

Penn National Posts Strong Second Quarte

Gaming machines at Charles Town Races and expansions at Mississippi casinos helped Penn National report record revenue and earnings for the second quarter ending June 30.