Impairment Hits Youbet Bottom-Line
Youbet.com reported a loss of $4.5 million for 2008, fueled by an $11.2 million fourth-quarter impairment charge for subsidiary United Tote, the company reported March 5.
Handle
News, Articles, Videos and other content about Handle
Handle Up Mid-Meet at Tampa Bay Downs
Driven by its live export signal to out of state outlets, total handle is up slightly at Tampa Bay Downs through the mid-way part of the 94-day meet, the track reported Feb. 20.
Nevada Booking Bets After Signal Cut-Off
Some Nevada casino racebooks are booking wagers on races from tracks affiliated with TrackNet Media Group after the content company recently cut off signals to the state over a contract dispute.
TrackNet Signal Cut-Off Looms in Nevada
Despite comments from TrackNet Media Group that negotiations are "going backwards" over issues involving racing signals to Nevada racebooks, the player on the other side of the table offered guarded hope matters can be resolved before a Jan. 25 cut-off deadline.
Handle Down, Purses Up for NYRA in 2008
All-sources handle for all New York Racing Association tracks declined 2.1% in 2008, but purses grew 3.1%, it was reported Jan. 22.
Calder Handle Down Significantly
- By Jim Freer
Wagering in Florida on Calder Race Course's recently concluded Tropical at Calder meet fell 31% in 2008, according to the Florida Division of Pari-Mutuel Wagering.
Total U.S. Handle Lowest in a Decade
- By Ryan Conley
Hampered by a 20.3% drop in total handle in December, wagering in the United States declined 7.2% in 2008 to record the lowest overall total in a decade.
Gulfstream Banking on 2009 Meet Changes
- By Jim Freer
Gulfstream Park is hoping that a move to a five-day race week will help produce larger fields and attract more live fans and other bettors on days that have proven more popular than its newly-dark Mondays.
Remington Park: Purses Up, Handle Down
Remington Park in Oklahoma recently completed its 20th season of Thoroughbred racing with a record purse disbursement and increased attendance, but followed national trends with a decline in most wagering statistics.
Woodbine Realizes Handle Decline
Woodbine concluded its 167-day Thoroughbred meet Dec. 7 with a 1.55% drop in all-sources handle, the Toronto-area track recently reported.
Youbet Reports Rise in Net Income
- By Esther Marr
After turning over a new leaf in management, Youbet.com's net income for the third quarter of 2008 experienced a significant increase in profit from the year before.
CDI: 3Q Earnings Up, Revenues Down
Churchill Downs Inc. more than doubled its net earnings against decreasing revenues from continuing operations in the third quarter, the company announced Nov. 5.
Belmont Handle, Attendance Averages Down
The 37-day 2008 Belmont fall meeting, which ended on Oct. 26, produced mixed business results. All-sources handle on NYRA races was $356.3 million, compared with the 2007 figure of $346.5 million, for an increase of 2.8%. Because the 2008 meet included four more days than the 2007 meet, there was actually an 8.3% decline in the equivalent daily average all-sources handle figure.
Oak Tree Meet Lifted by Breeders' Cup
An otherwise sluggish Oak Tree at Santa Anita meet got turned around by hosting the Breeders' Cup World Championships, Oct. 24-25. Excluding the Breeders' Cup, the Oak Tree handle was down 14%.
Handle Dives Almost 10% in Third Quarter
- By Tom LaMarra
Handle on races in the United States sharply dropped 9.85% in the third quarter of this year, clearly in keeping with a trend that began in early 2008.
Numbers Down for Turfway Fall Meet
Turfway Park closed its 2008 fall meet with declines in all-sources and on-track handle, the Florence, Ky., track reported Oct. 3.
Presque Isle Handle Tops $31 Million
Presque Isle Downs reported a total handle of $31,425,213 for its 101-day meet that ended Sept. 28, a stand that was 76 days longer than the track's inaugural meet last year.
No Early Issue with Breeders' Cup Signal
Early handicapping on signal distribution of the Breeders' Cup World Championships shows the prestigious event will be available to a wide variety of outlets and bettors, at first glance calming fears of any "signal wars" fallout evident in other revenue-sharing disputes involving advance deposit wagering.
Evangeline Downs Reports Record Gains
Evangeline Downs Racetrack and Casino's recently concluded 2008 spring/summer Thoroughbred season posted all-time highs in average nightly handle, single-night handle, average field size, and purse distribution for the 84-night meet.
Ellis Handle Drops, But Geary 'Content'
- By Ryan Conley
Ellis Park ended its annual racing meet Sept. 1 with a 3% drop in daily handle, despite broader signal distribution to advance deposit wagering outlets.
Del Mar Puts Declines in Perspective
Del Mar closed its 69th race meeting Sept. 3 with declines in handle and attendance, but track officials were left with a positive attitude in light of tough economic conditions.
'Realities' Force Calder Date Cuts
- By Jim Freer
Calder Race Course has asked the Florida Division of Pari-Mutuel Wagering for permission to hold live racing four days a week, rather than five, during 11 weeks beginning Sept. 1.
Weather Impacts Saratoga Meet Figures
Severe thunderstorms, heavy rain, and nearly continuous inclement conditions played havoc on attendance and handle figures during the third week of the 2008 Saratoga Race Course meet, according to the New York Racing Association, Inc.
Saratoga Meet Off to a Slow Start
Handle and attendance are down through the first week of the 2008 Saratoga meeting, the New York Racing Association reported July 28.
Belmont Park Reports Mixed Results
All-sources handle declined 2.2% during the recently-concluded Belmont Park Spring/Summer meet, the New York Racing Association announced July 23.
Wagering Plummets Since Triple Crown
- By Ryan Conley
Wagering has dropped 11% on North American Thoroughbred racing since the end of the Triple Crown series -- at least by one indicator -- a disturbing trend that can likely be attributed to a variety of factors.
New Boss at Calder Among CDI Changes
Churchill Downs Inc. has appointed Ted Nicholson to oversee operations at Calder Race Course on an interim basis, one day after CDI implemented a company-wide personnel overhaul.
Monmouth Meet Called 'Soft' Thus Far
Monmouth Park officials said two nearby off-track wagering parlors and skyrocketing gasoline prices have led to decreases in attendance and on-track handle nearly one month into the New Jersey racetrack's 2008 meet.
Pimlico Handle Drops 16.5% During Meet
Hampered by a double-digit handle decline on its biggest race card, the May 17 Preakness Stakes (gr. I), Pimlico Race Course realized a 16.5% drop in all-sources wagering for its 31-day meet that closed June 7.
Nathanson Promoted to TVG President
David Nathanson has been promoted to the newly-created position of president of TVG, the company announced May 19.
Preakness Handle Suffers Heavy Decline
After four straight years of handle topping $87 million, wagering on the Preakness program declined 15.8% in a year-over-year comparison with the 2007 card.
Churchill Downs to Reduce Purses 20%
Churchill Downs announced May 9 a 20% purse cut for its spring meet effective May 14, laying the blame on horsemen's groups for rejecting offers on signal distribution.
TVG: Record Handle for First Quarter
TVG processed $108.8 million in total wagering during the first quarter of 2008, the highest first quarter total in the company's history and a 32% increase over the first quarter of 2007.
ADW Lockout Blamed for Derby Handle Drop
All-sources handle dropped nearly 2% on the May 3 card of the Kentucky Derby Presented by Yum! Brands (gr. I), a result a Churchill Downs official blamed on the fallout from an ongoing dispute with horsemen over signal distribution.
Handle Declines on Kentucky Oaks Card
Perhaps feeling the effects of an ongoing dispute with horsemen over signal distribution, handle on the May 2 Kentucky Oaks (gr. I) program was down about 7%, according to numbers released by the track.
Total Wagering Up in New Zealand
The unaudited figures from the New Zealand Racing Board for the first six months of the 2007/08 season show that despite the challenges imposed by the equine influenza outbreak in Australia, business has continued to deliver strong turnover growth.
Arneault Plans to Exit MTR Gaming
MTR Gaming in its annual report said it lost $11.4 million in 2007 and announced Ted Arneault will step down as chairman and chief executive officer at the end of the year.
Youbet Incurs Fourth-Quarter Losses
Youbet.com reported March 31 it lost $28.7 million in the fourth quarter of 2007 on the same day it was notified by NASDAQ it faces delisting from the stock exchange.
Youbet Settles Lawsuit in Virginia
- By Ryan Conley
A federal lawsuit between Youbet.com and several entities associated with Virginia racing has been settled, resulting in a renewed effort by the advance deposit wagering company to become licensed in the state.
TVG: Wagers Up, Revenues Down
The parent company of TVG Network reported the horse racing television channel realized a 10% increase in wagers processed for 2007, but saw overall revenues decline slightly for the year.
CDI: Multi-Year Proposal for 'Cup
Churchill Downs Inc. says it is sincerely interested in hosting the Breeders' Cup World Championships, so much so that it offered what it considered an "innovative" multi-year plan for regularly staging the annual event at its signature namesake track starting in 2009.
Wagering Down, Purses Up in 2007
- By Ryan Conley
Overall wagering declined slightly in the United States in 2007 while purses increased, according to "Thoroughbred Racing Economic Indicators" data released Jan. 15.
Calder On-Track Handle Down 24%
On-track handle at Calder Race Course fell 24% during the 2007 portion of its Tropical meet, according to data obtained from the Florida Division of Pari-Mutuel Wagering. Calder's simulcast handle fell 26% compared with the same period in 2006.
CDI Keeping an Eye on the Future
- By Ryan Conley
Churchill Downs Inc. reported a 7.1% increase in net revenue for the third quarter of 2007, but realized a 62.9% decline in net earnings, as the company's chief executive voiced hope for the future on a variety of fronts during a Nov. 8 conference call.
IRG a Hot Topic During Youbet Call
- By Ryan Conley
Youbet.com reported a decline in overall handle and increase in total revenue for the third quarter of 2007, but a related earnings conference call with analysts Nov. 7 was punctuated by discussion of the federal investigation involving the company's off-shore entity, International Racing Group.
Officials Blame Weather for Breeders' Cup Wagering Declines
Just as severe weather played havoc with many facets of the 2007 Breeders' Cup, the blustery, sloppy conditions hit the bottom line of handle figures at Monmouth Park during the first-ever two-day World Championships.
Wagering Declines on 2007 Breeders' Cup
A total of $111,903,685 was wagered from all sources on the 11-race Breeders' Cup World Thoroughbred Championships card at Monmouth Park Oct. 27, according to preliminary data, a decline of 20.3% from the all-time record set at Churchill Downs last year.
Wagering in First Breeders' Cup Day Shatters Monmouth Record
A new all-sources handle of $30,370,671 was established for Monmouth Park during the Oct. 26 running of the Breeders' Cup World Championships, the track has reported.
Handle and Purses Up, Race Days Down for Third Quarter of 2007
The National Thoroughbred Racing Association (NTRA) and Equibase Company have released the "Thoroughbred Racing Economic Indicators" for pari-mutuel wagering in the United States and Canada.
Turfway Reports Mixed Numbers for Fall Meet
Turfway Park ended its 2007 fall meet Oct. 4 with increases in on-track wagering and declines in all-sources wagering on its races compared with the same period in 2006.
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