Concerns about under-funded education programs could make slot machines more attractive to Maryland legislature this year, according to poll results released today. The poll showed 54% of 800 voters contacted by phone favored having slot machines at racetracks provided a portion of the revenue went toward improving education.
Expanded distribution of Woodbine Entertainment Group's Thoroughbred and harness races and larger fields generated by higher purses helped increase the company's total handle for the year by 11.1%. The all sources handle for Thoroughbred and Standardbred racing was a record $1.36 billion.
The National Thoroughbred Racing Association is expected this week to fully acquire EquiSource, a corporation that managed group purchasing for the association. Once the deal is closed, a new organization called NTRA Purchasing will be formed.
Uniformity among testing procedures and the development of a broad-based funding mechanism to support expanded testing programs and research were among 21 recommendations made by Racehorse Medication Summit report released today.
The boom from simulcasting is over and North American purses are now growing progressively slower every year like a freight train struggling up a mountain pass. The problem this time around is that the next mountain peak may still be a ways off, and the downhill side does not appear to be very steep.
Kentucky's Thoroughbred industry lost more than 30% of its expected 2002 foal crop and will take a financial hit of about $300.5 million due to MRLS.
Magna Entertainment Corp. will revive The Racing Network early next year, according to company chairman and founder Frank Stronach. The live racing network will likely be reintroduced when MEC launches its account wagering service in California.
Thoroughbred Interests, a Louisville-based pinhooking business, has gone public and is now being traded on the Over the Counter Bulletin Board under the ticker symbol TBIN.
Loudrangle, one of Sam-Son Farm's foundation mares and 1986 Canadian broodmare of the year, died Dec. 12.
Gtech Holdings, a co-owner of Turfway Park and lottery system operator, reported Monday an 18% increase in fiscal third-quarter profits due to the sale of terminals and software to the United Kingdom. Net income rose to $21.6 million, or 73 cents a share, in the three months ending Nov. 24 from $18.3 million, or 53 cents a share, a year earlier.
The Jockeys' Guild wants the racing community to help build a $10 million endowment that will provide long-term support for its disabled jockeys program
Fair Grounds president Bryan Krantz has been appointed the United States representative for Attheraces, an ambitious new online wagering and interactive television wagering company in the United Kingdom.
Woodbine Race Course reported a 14% increase in average daily handle driven by a substantial increase in purses and field size.
Magna Entertainment president Jim McAlpine told racing industry leaders Thursday that their best chance to compete against Las Vegas and Disney, which he says are horse racing's true competitors, is by making industrywide deregulation and the adoption of free enterprise a top priority. And as Magna prepares to launch its own online and telephone account wagering service in California, McAlpine urged TVG to abandon its exclusive contracts with racetracks and merge its content with Magna's tracks and others.
Magna Entertainment president Jim McAlpine told racing industry leaders Thursday that their best chance to compete against Las Vegas and Disney, which he says are horse racing's true competitors, is by making industrywide deregulation and the adoption of free enterprise a top priority.
Hoosier Park broke a record for all-sources handle during its 70-day meet that ended Dec. 3, but also reported declines in on-track handle, attendance, purses, and starters per race.
Four jockeys and the chief executive of a California management firm running the Jockeys' Guild will remain part of a wrongful termination and slander suit filed by former Guild national manager, John Giovanni. A Fayette County circuit court judge on Friday asked attorneys on both sides to finish their depositions in the case and readdress the motion to dismiss later with more refined arguments.
A full sister to classic winner Galileo sold for 1.1 million guineas ($1,648,300) to John Magnier Friday at Tattersalls December foal sale.
Call Now, the parent company of Retama Park, announced today the retirement of chairman and chief executive officer William Allen and president Robert Buffkin. The new president and CEO is Thomas Johnson and Christopher Hall will replace Buffkin on the board. At Delaware Park, Sam Abbey has been appointed racing secretary and vice president of finance John Rooney announced he will retire.
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.
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