A group of six to seven investors from Texas and Louisiana has issued a letter of intent to buy the 27-year-old Louisiana Downs. A state license issued in March that allows the racetrack to run 15,000 square-feet of slot machines significantly increased its value. If the deal closes, the investors intend to spend more than $90 million on renovations.
A change of judges has delayed a pre-trial hearing in a lawsuit involving 1998 Kentucky Derby (gr. I) winner Real Quiet. For scheduling reasons, Judge Henry R. Wilhoit recused himself from the case in which Kentucky farm owner George Hofmeister has accused owner Mike Pegram and trainer Bob Baffert of fraud.
A hearing to determine if five defendants should be dismissed from a lawsuit filed against the Jockeys' Guild by former national manager John Giovanni was postponed Wednesday due to illnesses by attorneys on both sides of the case.
The Jockey Club will not reinstate the foal registration papers of four rare Palomino Thoroughbreds because they were bred by artificial insemination. The breeder, who believes she is the victim of selective prosecution, intends to pursue the case further in a in New York courtroom.
Canterbury Park reported increased revenue and decreased net income for the third quarter ending Sept. 20. Revenue for the Minnesota racetrack was up 4.3% to $12.1 million, but net income for the third quarter fell 21% to $378,103, or 10 cents per share.
The TV Games Network's parent company reported a 13.5% increase in net loss for the third quarter ending Sept. 30. The increase in losses was attributed to charges related to the merger between Gemstar and TV Guide in July 2000 and to higher operating expenses.
Prospective foal insurance used to be about the new owner of a pregnant broodmare protecting his investment after the purchase. At this year's Keeneland November breeding stock sale, insurance coverage became an incentive to buy the mare in the first place.
Keeneland's online version of its November breeding stock sale will begin Nov. 18 at 9 a.m.. Some horses have already been entered in the sale with more entries expected today and Friday. Bidding starts closing hip-by-hip on
New York media magnate Stuart Subotnick belongs to an elite group: he's one of America's 500 richest people. He also belongs to a more exclusive clique of the super-wealthy who own Thoroughbred racehorses. Subotnick, 59, did not grow up around a racetrack, and he's not a gambler. He got into Thoroughbred racing at the urging of a friend and found the game intoxicatingly competitive as well as financially challenging.
Robert Fell has stepped down as chief executive officer of Youbet.com, an online horse racing and wagering company, and will be replaced by two men. Vice presidents Ronald Luniewski and Phillip C. Hermann will share CEO duties.
Arlington Park's first meet to run through October produced a new single-day record handle and a 10.4% increase in average daily total handle. The tragedies of Sept. 11 were blamed for double-digit losses in on-track handle and attendance.
Calder Race Course, near Miami, increased total handle by 3% to $631.6 million and increased total attendance by 2.4% to 591,039 for its 119-day meet that ended Nov. 3.
Magna Entertainment showed some improvement during the third quarter ending Sept. 30, historically the company's weakest period of the year. Revenue for the Ontario-based racing conglomerate increased 31.1% for the quarter and 24.9% for the first nine months of the year.
The five-hour Breeders' Cup World Thoroughbred Championship telecast on NBC earned a 1.7 rating and captured 4% of the viewing audience. They were the lowest ratings the championship has ever received.
Maxxam, the owner of Sam Houston Race Park, reported a gain of $4.08 per share for its third quarter compared with a loss of $2.47 per share reported a year ago. The diversified company's racing operations reported a slight increase in sales, but the gains were offset by increased costs.
Penn National Gaming reported a 67.3% increase in revenue and a 52.5% increase in net income for the third quarter. In other news, the company is seeking dismissal of a lawsuit filed against Charles Town Races by Showboat Development over the rights to operate slot machines and video lottery terminals at the company's West Virginia racetrack. If the case is not dismissed, Penn National wants the case moved out of Nevada to a West Virginia court.
A Mexican subsidiary of simulcast service provider Racing Services of Fargo, N.D., is creating an international online wagering service. The Global Pari-Mutuel Network will be created with a subsidiary of Orbis Development, which handles electronic financial transactions for banks and merchants worldwide.
The troubled state of world politics will keep Prince Ahmed bin Salman at home in Saudi Arabia for the Breeders' Cup World Thoroughbred Championships.
A decrease in Churchill Downs' third quarter earnings has been attributed to an increase in outstanding shares and the aftermath of Sept. 11's terrorist attacks.
Second-day momentum at Fasig-Tipton's Kentucky October yearling sale helped deliver some statistical gains over last year's significantly larger edition.
An agreement struck over the weekend will allow all online and telephone account wagering services to put the World Thoroughbred Championships on their menus Oct. 27.
Gross sales, average price, and median price all dropped during Monday's opening session of the Fasig-Tipton Kentucky Fall Yearling sale. The session's top-selling colt by Unbridled out of Debit My Account sold for $360,000.
The public companies that own Mountaineer Park and Canterbury Park were recognized by Forbes magazine this week as two of the country's top 200 small companies.
Graded stakes winner Intidab will stand the 2002 season at Wycombe House Stud near Redding, Fla.
D. Wayne Lukas is heading to the Breeders' Cup Classic (gr. I) with longshot Orientate, winner of the Indiana Derby.
British contractor Robert Killoran has defaulted on 10 summer yearlings purchases worth more than $3.3 million. The Keeneland Association filed a lawsuit against Killoran Tuesday, and the Fasig-Tipton sales company intends to sue.
The second Keeneland online auction for September yearlings that didn't bring their reserves during the live sessions sold five horses for a total of $27,800. Keeneland said the sale is a work in progress.
MTR Gaming Group (Nasdaq:MNTG), the owner/operator of Mountaineer Racetrack & Gaming Resort in West Virginia, reported a 20 percent drop in revenue in the two weeks following the Sept 11. terrorist attacks on New York and Washington, D.C.
John Giovanni, former head of the Jockeys' Guild, filed a lawsuit Sept. 20 alleging that he was slandered by Guild officers and illegally forced out of his position in June.
The U.S. Department of Agriculture gave its approval today to a foot-and-mouth quarantine facility at Aqueduct. The decision will make it easier for European horses to compete in Breeders' Cup World Thoroughbred Championship prep races at Belmont Park.
Churchill Downs' board of directors authorized the repurchase of up to 55,000 shares. The buy-back was authorized to help stablize the company's stock price and contribute to stablizing the market overall. Despite financial experts pleas to investors that they should not react to the terrorist attacks in New York and Washington D.C., the major stock markets sustained significant losses.
Keeneland will begin posting on its Website Saturday afternoon some of the yearlings available through its Internet RNA auction. Online bidding begins at 9 a.m. Sept. 26 and the closes horse-by-horse at five minute intervals by hip number starting at 2 p.m. on Sept. 27.
Greenwood Racing will make donations totaling $100,000 to charities involved in disaster relief efforts in the City of New York resulting from the attack on the World Trade Center Towers on September 11, 2001.
Flame Thrower will stand at Robert Slack's Stoneriggs Farm near Ocala, Fla. He will stand for $8,500 with a live foal guarantee.
Dubai Destination, a $1.5 million Keeneland July sale purchase owned by Godolphin Racing, won his first stakes race Friday at Doncaster in the Rothmans Royals Champagne Stakes (Eng-II). It was the colt's third start, and his impressive victory made has made him the favorite for next season's Sagitta 2000 Guineas. Godolphin's Ekraar won the Amco Corp. Troy Stakes the same day.
The shutdown of New York airports will keep Beautiful Pleasure and Hero's Tribute out of important graded stakes races at Belmont Park on Saturday.
Breeders' Cup officials have only just begun thinking about how the World Trade Center disaster could affect the World Thoroughbred Championships at Belmont Park on October 27.
Del Mar reported across-the-board increases and a record total handle of $518.3 million for its 43-day meet that ended Wednesday.
Saratoga attracted more than a million fans for the first time in its 137-year history. The crush of additional fans caused a slew of statistical records to fall.
Ellis Park fought off the chilling effects of escalating gasoline prices and a sluggish economy to post gains in attendance and wagering.
Cashier's Dream dominated a field of six other horses in the $200,000 Spinaway Stakes (gr. I) at Saratoga.
Hoof and mouth quarantine restrictions on imported European horses is keeping some horses out of major Breeders' Cup World Thoroughbred Championships prep races at Belmont Park. NYRA hopes to secure an exemption to the quarantine rules next week and have a quarantine facility at Aqueduct set up in time for races on Sept. 29.
Portland Meadows will not open Sept. 1 as planned because the Environmental Protection Agency has rejected a plan to keep contaminated storm water from leaving the racetrack property. Magna Entertainment was notified Tuesday that the plan was rejected. The environmental problems could accelerate the company's plans to build a new racetrack in the area.
Youbet.com today announced the opening of its new Oregon wagering hub. The new hub allows Youbet.com customers access to racetracks previously available only through the TV Games Network. Along with the new hub, Youbet has adjusted its price. The service now charges a fee per transaction instead of a monthly fee.
The annual Del Mar yearling sale set a record average price of $43,663 this week. The two-day sale at the Del Mar HorsePark sold 104 horses for a total $4,541,000. Monday's session was responsible for elevating the average price. Seven horses sold for $100,000 or more compared to five during last year's entire sale. Tuesday session was weaker overall, but still an improvement over last year's second session.
Seven horses sold for more than $100,000 during Monday's opening session of the two-day Del Mar yearling sale. Last year, five horses sold in this price range for the entire sale. The average price for the first session was $52,918, far above the sale's record average price of $36,798 set in 1999.
A Jockey Club investigation found no evidence that mares were bred using artificial insemination at Southern California's Valley Creek Farm.
City Zip kept his winning streak at Saratoga alive Friday when he held on to win the $125,000 Amsterdam Stakes (gr. II) by a narrow margin over Speightstown.
Magna Entertainment reported an 11% increase in revenue and a 21% increase in earnings before interest, taxes, depreciation, and amortization for the second quarter ending June 30. The recent quarter was the first to include all the company's operations.
Most Popular Stories
- Retro Rebel: Smarty Jones Wowed in 2004
- Louisiana Bills to Reduce Dates, Slots Money
- Turfway to Boost Purses With KTDF Supplements
- Gulfstream Uses Graded Stakes Testing Fund
- Dixiana to Sponsor Two Keeneland Stakes
- Slideshow: The Week in Photos for 3/11/2014
- Jezki Wins Cheltenham's Champion Hurdle
- Downey: Derby Trail, Where They're Going Next
- Steve Haskin's Derby Dozen 3/10/2014
- Horses to Watch at OBS March Sale