The account wagering operation owned by Churchill Downs Inc. avoided losing its license to operate in California when it reached an agreement with racetracks in the state on rates to carry their signals before a deadline expired March 18.
During its meeting March 14, the California Horse Racing Board conditionally approved a license extension for 2011 to Twinspires.com. Under the action approved by a 5-1 vote, CDI was required to settle a percentage rate dispute with Monarch Content Management Services, a company that negotiates rates on behalf of a number of racetracks.
"Monarch has a signed agreement with Twinspires. They are in compliance" with the CHRB's directive, said Kirk Breed, executive director of the regulatory agency.
Scott Daruty, representing Monarch before the CHRB, said the dispute was caused by CDI seeking to lower the rate returned to tracks for wagering on Louisiana content.
Terms of the agreement were not available.
Twinspires and XpressBet, the ADW company belonging to major track owner MI Developments, were also required to complete a labor agreement with the California union local representing pari-mutuel clerks.
Breed said both companies had complied with that requirement.
