Trading was heavy again on Gemstar-TV Guide International Tuesday, but the media and technology company that lost 39% of its stock value Monday ended the day with a small gain.
International investment bank Dresdner Kleinwort Wasserstein initiated coverage of Magna Entertainment last week and promptly told investors to sell.
Gemstar-TV Guide International, the parent company of the TV Games Network, lost 39% of its value Monday in a frenzy of selling. Investors reacted to a ruling June 21 that Gemstar's patents for an interactive television program guide have not been infringed by competing products.
Gemstar-TVG Guide International, the parent company to the TV Games Network racing channel, suffered a serious blow in court Friday when it lost a crucial patent infringement case.
Chris McCarron captured the NTRA All-Star Jockey Challenge Championship title Friday night at Lone Star Park as if destiny demanded it.
Jockey Chris McCarron, who is retiring from riding Sunday, said during a Friday teleconference that he is healthy, but leaving racing because he's tired. McCarron said he loved his time in the saddle, but it's time to move on.
Prairie Meadows is reviving a $25 million expansion plan on the heels of a state Supreme Court decision that drastically reduced the racetrack's gambling taxes, according to the Des Moines Register.
Churchill Downs has postponed asking its board of directors to approve the financing for a $100 million renovation project. The company is still negotiating some public assistance deals and is tweaking the project's design.
Audrey Skirball-Kenis, a long-time Thoroughbred owner and philanthropist, died Wednesday in Los Angeles.
Anthony M. Alonso, one of America's foremost horse artists, will donate to the Grayson-Jockey Club Foundation a portion of the sales from 200 prints of his "Horse Fair Panorama" oil painting.
Former Illinois Gov. Jim Edgar has been appointed to the Youbet.com board of directors effective Wednesday.
Gtech Holdings, a lottery systems operator and co-owner of Turfway Park, reported first quarter earnings that were 6-7 cents higher than analysts' expectations.
Total handle dropped 4% and attendance declined 13% for the 2001-02 Hong Kong racing season that ended June 16.
Estate planning and financial flexibility were the reasons Gainesway Farm sought permission June 13 from a county planning commission to subdivide a portion of its 1,500-acre farm into 10-acre tracts.
NBC Sport's coverage of the Belmont Stakes (gr. I) earned a final rating of 7.6 and captured 21% of the viewing audience. The rating was highest since 1989 when the race earned an 8.5.
Television Games Network has acquired 16.6% of Youbet.com's outstanding shares of common stock.
The American Quarter Horse Association has eliminated all restrictions regarding the registration of foals produced through embryo transfer as part of an out-of-court settlement with a coalition of breeders. The ruling could affect the rules of other registries, including The Jockey Club.
Magna Entertainment chairman Frank Stronach, former top jockey Ted Atkinson, trainer Mac Benson, and two-time Horse of the Year Chief Bearhart will be inducted into the Canadian Hall of Fame Aug. 29.
New York Racing Association officials expected Belmont Stakes Day to be big, but what they got by the end of the day blew everyone away.
Hawthorne Race Course's spring meet continued to provide a popular turf racing "bridge" between winter/spring meets at Fair Grounds and Oaklawn Park, and the meet that just began at Arlington Park.
A big weekend of racing at Belmont Park will be capped off in grand style Sunday when millionaire sprinter Xtra Heat takes on six challengers in the Vagrancy Handicap (gr. II).
Hawthorne Race Course's ended its 23-day spring meet with double digit increases in average on-track, full card, and total all-sources handle.
Youbet.com has hired Gary Sproule, a former Disney executive, as its chief financial officer. The California online racing and wagering company also announced a marketing agreement with California fairs.
Magna Entertainment Corp. announced Tuesday an agreement to buy Flamboro Downs Holdings for $47 million, which will give the Ontario-based racetrack conglomerate its first racetrack in Canada.
A licensing deal announced today by Youbet.com may put live odds and online audio and video streaming of selected races on ESPN.com as early as this weekend.
Public companies with ties to Thoroughbred racing slumped from 1-20% Monday as the resignation of Tyco International's chairman and growing investor skepticism dragged down the entire market.
William Richard "WR" Smith, a veteran Thoroughbred trainer, breeder, and owner died May 27 in Ocala, Fla.
Former AmTote president Ted Mudge began working at Magna Entertainment this week.
A Texas judge reaffirmed on May 16 his earlier decision that an American Quarter Horse Association rule restricting the number of registered foals produced through embryo transfer violates the state's antitrust law.
Fight Your Corner, winner of the Chester Vase, will run in the Vodafone Epsom Derby. Sheikh Mohammed, who bought the colt to race in the colors of his son, Sheikh Hamdan bin Mohammed al Maktoum, made the decision to pay a £90,000 supplementary fee after consulting with Sheikh Hamdan and trainer Mark Johnston.
Trainer Bob Baffert and jockey Pat Day will try capturing the marquee event on Texas' richest day of racing Monday with grade I winner Congaree.
Take Charge Lady is the 4-5 morning line favorite in the 1 1/16-mile $100,000 Dogwood Stakes (gr. III) at Churchill Downs on Saturday.
The total all-sources handle for the Preakness Stakes (gr. I) reached $71,468,223, a 14% increase over last year, according to the Maryland Jockey Club.
Maxxam, the industry conglomerate that owns Sam Houston Race Park, posted a huge first quarter loss after its aluminum operation declared bankruptcy. The bankruptcy is not expected to affect racing operations.
Vodafone has renewed its sponsorship of the Epson Derby (Eng-I) for three years and has an option for a two-year extension.
Youbet.com announced the promotion of seven managers Wednesday. Leading the list are former jockey agent Jeff Franklin who has become vice president of product management and Chris McConnell who is now executive director of track relations and player development.
Penn National Gaming will proceed with a 2-for-1 split of the company's common stock on June 25.
Youbet.com broke its single-day handle record of $1 million following the Preakness Stakes (gr. I) on May 18.
The Nasdaq Stock Market notified executives at Youbet.com on May 16 that the company's stock was not in compliance with a $1 per share minimum standard and was subject to delisting.
Gloomy weather depressed on-track wagering for the 127th Preakness Stakes (gr. I), but interest in the race around the country helped Pimlico Race Course set several wagering records.
Magna Entertainment could complete a deal to buy Pimlico Race Course and Laurel Park within the next several weeks, according to a report by the Washington Times.
A U.S. District Court judge on Thursday ruled to dismiss a fraud and breach of contract suit involving the retirement of 1998 Kentucky Derby (gr. I) winner Real Quiet.
Canterbury Park Holding reported an 11.4% increase in revenue and a 28.6% increase in net income for the first quarter ending March 31. Revenue of $8.9 million and net income of $931,038 were records.
Gemstar-TV Guide International, parent company to the TV Games Network, posted a steep first quarter net loss due to $297.8 million write-off and declining revenu
NTRA Productions has entered into a five-year licensing agreement with Florida Equine Publications to use the name "Wire to Wire" in the title of a weekly horse racing television show on ESPN.
Gaines-Gentry Thoroughbreds is suing a prominent Central Kentucky insurance company for negligence, fraud, and breach of contract associated with the coverage of a Storm Cat--Beautiful Bid foal and the stallion Indian Charlie.
Good weather and lower takeout were credited with producing double digit increases in average attendance and significant gains in average on-track handle at Aqueduct.
The final television ratings for the Kentucky Derby (gr. I) fell one rating point from a year ago to 7.1 and captured 18% of the viewing audience.
The TV Games Network is enjoying record growth due to the opening of Hollywood Park, the Kentucky Derby (gr. I), and an increasing popularity in Quarter Horse racing at Los Alamitos.
Higher insurance costs and a lack of live racing caused Churchill Downs' first quarter losses to deepen.
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