New York off-tracking betting corporations will be permitted to dip into their capital funds to help pay for operating expenses under legislation given recent final approval by the New York lawmakers.
Pennsylvania lawmakers are examining legislation that would lower the minimum number of live racing days required at racetrack gaming facilities, and also allow each track to install slot machines at up to four OTW parlors.
As Monmouth Park prepares for its upcoming season, Dennis Drazin, who advises the track operators, said during May 5 luncheon the New Jersey facility is operating in the black.
Legislation designed to encourage Atlantic City casinos to offer full-card simulcasts -- or at least protect them at the one casino that still offers wagering on horse races -- was signed into law April 27.
Centaur Gaming Jan. 12 said it is closing its off-track betting parlor in Merrillville, Ind., not far from the Illinois and Michgan borders, because of declines in business.
The owner of Colonial Downs said the Virginia racetrack and its network of off-track betting parlors will close Nov. 1 if the Virginia Racing Commission doesn't approve its plan for live Thoroughbred racing in 2015.
Indiana Grand Racing & Casino has converted a 9,600-square-foot casino restaurant into an upscale off-track betting parlor that will be open year-round.
Penn National Gaming Inc. will open a new off-track wagering facility in southern New Jersey July 2. It will be the fifth OTW facility in New Jersey.
Attendance for the May 17 Preakness Stakes (gr. I) was believed to be about 117,000 as of 3 p.m. EDT with hopes by management that the final tally will be even higher.
While acknowledging its decision could jeopardize Thoroughbred racing in the state for this year or even several years, Colonial Downs says it has ceased negotiations with the Virginia HBPA.
Overnight purses at Fair Grounds Race Course & Slots have been reduced 10% for the rest of the current race meet, track officials said Feb. 20.
New York Gov. Andrew Cuomo has signed legislation to create a statewide standard for rebate programs at racetracks and off-track betting corporations.
Upgrading the on-site customer experience, be it for live horse racing or full-card simulcasts, is critical to the growth of the business, panelists said Oct. 7 on the first day of the International Simulcast Conference.
A New York lawmaker May 4 said he will introduce legislation authorizing off-track betting at New York City bars that offered it before New York City Off-Track Betting Corp. went bust and closed in 2010.
Declining handle is forcing the closure of the state's only freestanding OTB network.
There will be 77 Thoroughbred racing dates for 2013 under a schedule approved by the New Jersey Racing Commission Nov. 14. The dates were approved pending a review of the minutes of the meeting by Gov. Chris Christie.
A review of wagering on this year's World Championships indicated the aftermath of Hurricane Sandy cost Breeders' Cup roughly $9 million in pari-mutuel handle compared with 2011 figures, organization officials said.
A bill authorizing small offtrack betting operations in bars and restaurants, and another measure giving Atlantic City Race Course a larger chunk of revenue from casino race books, passed New Jersey legislative committees.
Lawmakers in New York said they plan to put off until next year passage of a measure permitting casino gambling in the Catskills resort region of the state.
The state Senate in New York has approved a measure to pick a new private company to run the closed New York City Off-Track Betting Corp., while the Assembly has backed a bill lowering a surcharge imposed on purses.
Eight entities have submitted bids to lease and operate Monmouth Park over a five-year period beginning June 1.
The operators of Aqueduct's future video lottery terminal casino have begun pressing state officials to permit table games at the facility and New York's other racetrack casinos.
Total pari-mutuel handle at New York Racing Association tracks was up 76% in the first month after the shutdown of New York City Off-Track Betting Corp., according to state officials.
A federal bankruptcy judge Jan. 25 dismissed the shuttered New York City Off-Track Betting Corp.'s Chapter 9 bankruptcy case, rejecting a motion by a union representing more than 1,000 fired workers.
The New Jersey Racing Commission Dec. 22 awarded full racing dates for 2011 and also licensed four off-track wagering facilities for the coming year.
Racetracks and OTB corporations in New York are circulating a draft agreement to permit live video streaming of races over the Internet -- a move supporters said could help pick up some business.
The New York City Off-Track Betting Corp., facing a shutdown later in the day, was given a four-day reprieve Dec. 3 when the state Senate is due back to consider passage of a bankruptcy reorganization plan
Legislation geared toward horse racing, Internet betting, and Atlantic City casinos moved closer to reality in New Jersey Nov. 22 as lawmakers voted to create big changes in the way people can gamble.
Officials said they are close to a deal to try to bring New York City Off-Track Betting Corp. out of bankruptcy protection, but that a final agreement is being blocked by several harness tracks in the state.
New Jersey lawmakers questioned the research behind a report on gaming and racing in the state Sept. 29 and suggested it left too many unanswered questions, particularly in regard to options for the horse racing industry.
A group of creditors involved in the NYCOTB bankruptcy proceeding has suggested a number of changes, including a 1% surcharge on wagers, according to a June document.
Penn National Gaming Inc. said June 17 it has sued Greenwood Racing -- its partner in Freehold Raceway -- over its failure to build an off-track betting parlor in Camden County, N.J.
Officials and horsemen at Finger Lakes Gaming & Racetrack are livid over a 12% purse cut they say was necessitated by the ongoing financial difficulties of New York City Off-Track Betting Corp.
More than 1,000 unionized workers at New York City Off-Track Betting Corp. are in still in line for pay hikes and severance deals but won't be paid until a long-term agreement is made.
- By Tom Precious
Seeking to avoid a "profound" impact on the state's racing industry, New York City Off-Track Betting Corp. will not shut down April 18 as planned.
An effort to bail out New York City Off-Track Betting Corp. collapsed April 14, leaving uncertainty over whether the betting giant will have to close its doors the weekend of April 17.
- By Tom Precious
Legislation introduced April 2 would permit a New York state government panel to take over the operations of the New York City Off-Track Betting Corp. if it shuts down.
Officials in New York have failed to agree on a bailout plan for the New York City Off-Track Betting Corp., which issued layoff notices Friday to its 1,300 workers as it prepares to close down April 11.
New York City Off-Track Betting Corp., facing a possible shutdown, can continue its bankruptcy reorganization case, a federal judge ruled March 22.
A transition committee has submitted a report that recommends statewide consolidation of the New Jersey horse racing industry, shorter Thoroughbred meets at Monmouth Park, and the opening of more off-track betting parlors.
A state task force is recommending a series of changes in the law to address new competition for dwindling betting dollars and repair a situation that has created a damaging war in New York racing.
New York's rules governing racetrack and off-track revenue-sharing took another twist Dec. 15 as state racing regulators ordered four downstate off-track betting corporations to pay millions of dollars to Yonkers Raceway.
- By Tom LaMarra
New York City Off-Track Betting Corp. plans to seek Chapter 9 bankruptcy protection in an attempt to reorganize its business.
Ellis Park officials said Oct. 27 the racetrack will shut down after Nov. 8 and suspend simulcast operations until April 1, 2010. The move affects 75 full- and part- time employees at the Western Kentucky track.
The New York City Off-Track Betting Corp., which is now controlled by the state government, is facing insolvency unless it can get its financial affairs in order, state Comptroller Thomas DiNapoli reported Aug. 14 in a long-awaited audit.
At the urging of the New York State Racing and Wagering Board, the New York Racing Association July 29 -- opening day of the Saratoga meet--authorized restoration of its televised signal to the in-home distribution network of Nassau Regional Off-Track Betting Corp.
Here's a fact: Some domestic advance deposit wagering outlets are openly offering cash rebates to customers that wager on California racing signals.
Colonial Downs may be looking for a manager to operate its live Thoroughbred and harness meet after releasing general manager Iain Woolnough Nov. 10. It also closed one of its nine off-track betting parlors in Virginia.
A new top racing industry regulator is poised to be confirmed by New York lawmakers Aug. 8 when the state Senate returns for a one-day session.
New York officials announced the evening of June 15 a deal to avert the closure of New York City Off-Track Betting Corp. by having the state take over the entity. The move could be a prelude to a statewide consolidation of all OTB corporations.
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