Eric Mitchell

Derby Berth Possible For Transy Winner

German-bred Flying Dash balked entering the gate in the $100,000 Transylvania Stakes at Keeneland Friday, but was full steam ahead at the wire. Attendance of 14,879 at the Lexington, Ky. track was the largest for a spring opening day since 1985. Attendance last year on opening day was 11,646.

Price Set for Magna Stock Offering, Stock Jumps

An offering of 20 million shares of Magna Entertainment (Nasdaq:MIEC) was priced at $6.65 Thursday through underwriters Bear Stearns. The update on the offering caused the company's stock to rise as much as 13.4 percent during trading on Friday.

San Bernardino May Set Up Gonzalez Daily Double

Trainer Paco Gonzalez hopes to set the stage for his own daily double Saturday at Santa Anita Park. He'll start by winning the $200,000 San Bernardino Handicap (gr. II) with Bosque Redondo, then two races later cap off his day by taking the Santa Anita Derby (gr. I) with probable favorite Came Home.

Stock Plunges for TVG's Parent Company

Gemstar-TV Guide stock plummeted Tuesday morning on the heels of poor fourth quarter and year-end results. As of 3 p.m., the parent company of the TV Games horse racing network was down $4.21 to $17.52, a drop of 19.4%.

Churchill Stock Continues to Rally, MTR Gaming Slips

The approval of electronic pull-tabs in Indiana and the introduction of video lottery legislation in Kentucky pushed Churchill Downs stock up $1.80 to $41.80 per share Tuesday. On the flip side, MTR Gaming was downgraded by a major investment bank and its stock dropped 8.8%

Matthews' Appeal Denied

A federal appellate court has upheld Gary Matthews' conviction for participating in a scheme to defraud a Houston bank out of $65 million. The former chief financial officer for Calumet Farm will be required to serve his entire 21-month prison sentence.

Churchill Downs Stock Jumps 9% on Monday

Churchill Downs stock rallied Monday, rising $3.22 on heavy trading. What drove the increase can only be speculated, but it came the day before Indiana legislators are to vote on a bill that expands gambling at racetracks and riverboats, and video lottery legislation is to be introduced in Kentucky.

Lundy Appeal to be Denied, A New Hearing Already Requested

A federal appellate court indicated in mid-February it did not intend to change the status of former Calumet Farm president J.T. Lundy's conviction on charges of bribery and deceit. Lundy immediately requested another hearing before the Fifth Circuit U.S. Court of Appeals headquartered in New Orleans.

Electricity Possible Cause of Fatal Barn Fire

Leading New York owner Carl Lizza hoped to broaden the scope of his mostly homebred racing stable by buying a large number of yearlings in 2001. His hopes perished in a late-afternoon barn fire Feb. 23 that killed 22 horses in training at Mike O'Farrell's Ocala Stud in Florida.

Breeders' Cup Future Wager Scaled Down

Breeders' Cup officials and tote companies have scaled down the size of a proposed World Thoroughbred Championships future wager slated for later this year. Instead of a minimum of 100 betting interests, as originally hoped for, Breeders' Cup's first future pools would offer 24 runners each.

McGee Enters Handicapping Contest for Charity

Daily Racing Form correspondent Marty McGee will be competing for two charities in Gulfstream Park's inaugural Turf-Vivor Thoroughbred handicapping contest that began Friday. Any money McGee wins will go a special fund for Robert Williams, who lost his family in a car accident Feb. 15, and the Jockeys' Guild Disabled Jockeys Fund.

Oaklawn and Turfway Increasing Purses

Good weather and higher handles are driving up purses at Oaklawn Park and Turfway Park. Oaklawn will increase purses by $1,000 per race starting Saturday, while Turfway Park will increase purses 7% beginning with Friday's card. Both purse increases exclude stakes races.

Showboat Re-Files Lawsuit Against Penn National

Showboat Development has reportedly re-filed in Pennsylvania a lawsuit related to the operating rights of slot machines at Charles Town Races. A similar lawsuit filed in Nevada last year was dismissed Jan. 25 because of a lack of jurisdiction.

Canterbury Park Pursues VLTs

Minnesota legislators will consider video lottery terminals for Canterbury Park. If approved, the track could double its purses and extend its meet with the help of 1,750 machines.

Magna Posts Mixed Fourth Quarter, Strong Gains for 2001

Magna Entertainment reported a 28% gain in fourth quarter revenue, but losses in net income and earnings per share for the three-month period ending Dec. 31. For the year, the Canadian racing conglomerate reported a 25.5% increase in revenue, a jump in net income from $441,000 to $13.5 million, and an increase in diluted earnings per share from 1 cents to 16 cents.

TOC: Some NTRA Money Should Go to Purses

The Thoroughbred Owners of California is using a deal with Magna Entertainment as leverage in an attempt to garner a greater share of pari-mutuel takeout from account wagers made through the TV Games Network. In question is a share of the money TVG pays to the National Thoroughbred Racing Association.

Penn National Announces Record Fourth Quarter and Stock Offering

Penn National reported a record fourth quarter Monday with revenue climbing 48.1% and net income jumping 105.2%. The Pennsylvania racetrack and casino company also announced it will be offering 2.5 million in additional shares of common stock, which should generate about $74 million. Another 1 million shares will be offered at the same time by the Carlino Family Trust.

Most Popular Stories