MTR Gaming Group (Nasdaq:MNTG) has received permission to increase the slot machines at Mountaineer Race Track by 31%. The new machines will raise the track's total number of video and slot machines to 2,500.
The last of four programs in the NTRA Champions series on CBS earned an overnight rating of 1.1 and captured 3% of the viewing audience. The ratings equaled the combined numbers for last year's NTRA Champions on Fox series.
Total handle for Belmont Park's 55-day meet increased 4.8%, but on-track numbers continued to be weak. Average daily on-track handle was flat at $1,929,951, while average daily attendance fell 5.9% to 8,025.
A Churchill Downs executive said Wednesday he hoped Arlington Park would be awarded the 2002 Breeders' Cup World Thoroughbred Championships within a couple months, but his prediction may have been a bit optimistic.
Uncertainty tinged with optimism permeated the Fasig-Tipton sale pavilion when the company's Kentucky select yearling sale began July 18.
Saratoga will offer full-card simulcasting for the first time in its 133-year history. Patrons will be able to wager on all the races from Monmouth Park when Saratoga's 36-day meet starts July 25.
The California Horse Racing Board gave initial approval Thursday to advertising on jockey attire, owners' silks, and racetrack saddle cloths. The program would be evaluated after one year.
Fasig-Tipton Kentucky's selected yearling sale offered enough quality to keep buyers on the grounds until the very last hip. As a result, the sale average climbed 25.5% to $97,671 and the median jumped 27% to $71,000.
A $400,000 Saint Ballado colt is leading the Thursday session of Fasig-Tipton Kentucky's selected yearling sale. The session's top selling filly is a $300,000 daughter of Gulch.
Keeping in step with rest of the nation, Lone Star Park reported an increase in total handle and decreases in on-track wagering and attendance.
The NTRA Champions series is holding its own on CBS. The first three of four programs have earned a combined 1.1 rating and a 3% market share, which is identical to the combined ratings the series earned on Fox last year.
Jerry Bailey, Jockeys' Guild president emeritus, is resigning Friday from his positions on the Guild's executive committee and board of directors. He is resigning because he believes a five-member majority of the executive committee acted too hastily in hiring Matrix Capital Associates to manage the Guild.
Anchor Gaming, the parent company of United Tote, has agreed to a merger with joint venture partner International Game Technology. If the deal is approved it would create a gaming equipment company with combined annual revenue of $2 billion and control of 60% of the United States market.
Magna Entertainment has signed agreements to take over the operation of Portland Meadows and acquire Multnomah Greyhound Park near Portland, Ore.
Peninsula Gaming Partners announced today it has entered into an agreement to acquire 50% of Evangeline Downs, a racetrack near Lafayette, La.
If Lane's End Farm owner Will Farish is confirmed next week as the next U.S. Ambassador to Great Britain, it will take Churchill Downs two or three weeks to replace him as chairman of the board.
The first of four programs on the revamped NTRA Champions series started well with a final television rating of 1.4. The rating was an 8% improvement over best rating earned last year when the series was on Fox.
The final television ratings for the Belmont Stakes rose 61 percent to a 4.5 and 13 percent market share. The combined ratings for the Triple Crown rose 49 percent to a 6.1 rating and a 17 percent market share.
Youbet.com, an online horse racing and wagering site that has burned through more than $64 million since 1998, expects to begin turning a profit in 2002. The company also expects to have more than 20,000 subscribers by the end of the year.
The revamped NTRA Champions Series got off to a good start June 10 with an overnight rating of 1.7 and attracted 4% of the viewing market. Last year's version of the series on Fox collectively earned earned a 1.1 rating and a 3% market share.
Equitana USA, a leading international equine exposition being held in Louisville this week, will include seminars on Mare Reproductive Loss Syndrome and Foot and Mouth Disease.
Record handle figures and higher television ratings were Belmont Park's rewards the day of its premier event. These were payoffs of clear skies, increased national and local publicity, and a showdown between Kentucky Derby (gr. I) winner Monarchos and Preakness (gr. I) winner Point Given.
Racetracks and off-track betting sites lost hundreds of thousands of dollars after heavy flooding in Houston shut down a wagering hub two hours before the Belmont Stakes on June 9.
Surely, no disappointment is greater than losing the Triple Crown by a narrow margin in the Belmont. But ranking a very close second is a first-round loss in the Kentucky Derby. If there is one Triple Crown race to win, many trainers agreed the Derby is the one.
In near wire-to-wire fashion,.Put It Back scored his fifth consecutive victory in the Riva Ridge Stakes (gr. II) that was part of the Belmont Stakes undercard. Favored Flame Thrower finished second by a neck, then was taken off the track in a van with a compression bandage on his left front leg.
The Jockey Club has launched an inquiry into whether artificial insemination was used at Valley Creek Farm in California, which is co-owned by Jack Liebau, one of its members. Additionally, the Jockey Club has agreed to conduct a hearing into the fraudulent registration of four Palomino Thoroughbreds.
The Nasdaq stock exchange notified Youbet.com officials Tuesday that the company still fails to meet its minimum price requirement and is subject to being delisted. To remain on the exchange, Youbet.com stock needed to trade about $1 per share for 10 consecutive days before Monday.
Total handle at Turf Paradise increased 9% to an estimated $334.2 million for its 165-day meet that ended May 22.
What may have been Hialeah Park's last live meet was reportedly its best ever.
Youbet.com just completed its busiest week ever. The Preakness Stakes (gr. I) and a handicapping contest held in conjunction with the Daily Racing Form attracted $2.6 million in online wagers for the week ending May 19.
Youbet.com has signed a deal that could give the Television Games Network a majority interest in the online horse racing and wagering service. Under the terms of the agreement, Youbet.com will pay TVG fees based on the handle. Youbet.com also has issued warrants allowing TVG to buy 19.9% of the online service's 19.4 million shares of common stock for 1 cent per share. Youbet.com's stock reacted strongly to the news. The stock, which closed at 75 cents per share Friday, jumped 101% to peak at $1.51 within the first hour of trading Monday.
Churchill Downs announced Friday that it will provide simulcast accounting services to Racing and Gaming Services, a company on the Caribbean island of St. Kitts that handles wagers on Thoroughbred, harness, and Greyhound races.
John Grady Jr. is stepping down as vice president and general manager of Tampa Bay Downs, but will remain associated with the track as a consultant. Grady was the overseer of significant improvements at the Florida racetrack, and a controversial figure during contract negotiations with horsemen.
Lexington, Ky., feed companies are busy filling orders for bags and buckets of mycotoxin binder from horse owners in 15 states throughout the East Coast and Canada. Here is a list of companies selling the binder and associated products.
Canterbury Park reported a 114% increase in revenue and a 300% increase in earnings per share for its first quarter. The strong performance is attributed to the Minnesota racetrack's card room. Call Now, the owner of Retama Park, saw revenue increase but so did its net loss.
Magna Entertainment chairman Frank Stronach told shareholders May 11 that he plans to buy four more racetracks in the United States. He said he hopes the racing conglomerate will control 35% of the U.S. handle on Thoroughbred races within two years. Stronach is also considering breaking into the Ontario racing market.
Youbet.com reduced its net loss for the first quarter of the year by 31% to $2.4 million, or 12 cents per share. During the same period a year ago, the company reported a net loss of $3.4 million, or 17 cents per share. The online horse racing and wagering service also gained 1,400 new subscribers between Jan. 1 and March 31.
A long New York winter is being blamed for a decreases in attendance, on-track handle, and average daily total handle for Aqueduct's winter/spring meet.
An attorney for the California Horse Racing Board has recommended a six-month suspension and $10,000 fine for trainer Bob Baffert, who had a horse test positive for morphine last year. The positive urine sample came from Nautical Look, the winner of an allowance race at Hollywood Park May 3, 2000.
The name "Trackside" will soon appear on Churchill Downs' nine off-track betting outlets.
NBC Sports' debut broadcast of the Kentucky Derby (gr. I) attracted 40 percent more viewers than a year ago. The national rating for the 5 p.m. to 6:42 p.m. program earned an 8.1 rating and captured 21 percent of viewers compared with last year when the Derby earned a 5.8 rating and a 17 percent market share. The rating is the highest since 1992 when the Derby earned a national rating of 8.9 and a 26 percent market share. Each rating point currently represents slightly more than one million households.
Magna Entertainment reported an 87% increase in earnings to 28 cents per share along with double digit increases in revenue and net income for the first quarter ending March 31.
A large majority of casual Thoroughbred racing fans said they had heard of the Breeders' Cup, but more than half did not know it was racing's championship event, according to an ESPN Sports Poll conducted last year.
Jim Host discusses his new contract with the National Thoroughbred Racing Association to secure corporate sponsors for horse racing and the Breeders' Cup. The Lexington sports marketing pioneer also discusses why an ESPN Sports Poll shows most casual racing fans don't realize the Breeders' Cup is Thoroughbred racing's championship day.
Louisville distillery and consumer products company Brown-Forman is expanding its race sponsorships. The company will sponsor six new races later this year at three tracks owned by Churchill Downs.
Las Vegas casino company Boyd Gaming has agreed to buy Delta Downs in Louisiana for $115 million to $125 million.
Santa Anita may withdraw as the host for the 2002 Breeders' Cup because of construction plans. The news has frustrated Oak Tree Racing Association officials, who conduct racing at the Arcadia, Calif., track in the fall. An executive with racetrack owner Magna Entertainment said the news should not surprise anyone since construction plans have been discussed for months.
Penn National's stock got a huge boost this week from a glowing first quarter earnings report and an announcement that it will soon close a deal involving casinos in Canada and Louisiana.
A 45.9% increase in revenue at Charles Town Races helped its parent company Penn National acheive record revenue, earnings, and net income for the first quarter of the year.
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