Woodbine said Oct. 29 it will raise the pari-mutuel takeout rates on many Breeders' Cup wagers because of a new standardized revenue model, action that sparked a rebuke from the Horseplayers' Association of North America
Churchill Downs Inc. reported a 19% increase in net earnings for the third quarter of 2015 compared with the same three months last year, and attributed a 61% spike in net revenue for the quarter to Big Fish Games.
Ken Kirchner, a former regulator in Pennsylvania, was hired by Breeders' Cup as a consultant in 1996, and since that time has overseen wagering formats, simulcast expansion, and elevating the product with bettors.
Total and average pari-mutuel handle, as well as purses, were up slightly during the 81-day meet at Delaware Park that ended Oct. 17.
A tote security initiative launched by the TRPB remains on track, but in a major change, the organization said Oct. 7 there no longer is a need for outlets that receive simulcast signals to pay a monthly fee to fund it.
Fantasy sports, fixed odds, and broader distribution were offered as potential avenues of growth for the pari-mutuel racing industry - all with caveats - during an Oct.6 session at the International Simulcast Conference.
Average daily all-sources and on-track pari-mutuel handle fell while average daily purses and field size rose during the 11-day September at Churchill Downs that ended Sept. 27.
Bettors on track and at simulcast outlets across the country will have an incentive at Suffolk Downs Oct. 3: The pari-mutuel takeout to a rate has been lowered to 15% across the board.
Monmouth Park officials said given the intense competition for gambling dollars and horses in the Mid-Atlantic and Northeast regions, the numbers from its just-completed 2015 race meet held up fairly well versus last year.
For the second time in three years, the Ohio Horsemen's Benevolent and Protective Association has pulled the plug on the exporting of ThistleDown Racino's live racing signal.
Keeneland and Red Mile officially opened their jointly owned historical racing parlor Sept. 17.
Canterbury Park reported increases in pari-mutuel handle, purses, and attendance for its 2015 meet that ended Sept. 12.
Commingled wagering on Thoroughbred races in the United States was up less than 1% in August versus the same month in 2014, while purses paid dropped almost 3% in conjunction with a reduction of 56 racing days.
After a one-day shutdown, live racing and simulcasting resumes Sept. 2. The Texas Racing Commission has been granted operating funds for the next three months.
Saratoga Race Course reported record pari-mutuel handle for its Aug. 29 program that featured the Travers Stakes and five other grade I stakes.
Woodbine Entertainment Group Aug. 24 said it will close its Turf Lounge off-track wagering facility in the Toronto financial district effective Sept. 5.
The Texas Thoroughbred Association has asked racing regulators to drop efforts to repeal rules they adopted last year to govern historical race wagering at tracks in the state.
Aided by an almost 9% increase in average field size and eight more turf races, pari-mutuel handle at the midway point of the 40-day Saratoga Race Course meeting is showing strong gains compared with the same period in 2014.
Business so far at the Saratoga Race Course meet has been very strong, NYRA officials reported Aug. 12, but they also noted that operating revenue for the year is down compared with 2014.
Perhaps helped a bit by added attention for horse racing following American Pharoah's Triple Crown sweep, wagering on U.S. races improved 1.41% in July to $903,673,455 when compared with July 2014.
The Maryland Jockey Club's first casino off-track betting parlor has been doing pretty good business since it opened in late April, officials said Aug. 4.
American Pharoah's dominating victory in the William Hill Haskell Invitational Stakes (gr. I) paced Monmouth Park in New Jersey to a record-breaking day.
Racing stakeholders fully understand that having sports betting at tracks in West Virginia is a 90-1 shot. But other things like off-track betting are a bit more realistic as they fashion a wish list to increase revenue.
A Kentucky judge has denied motion to have historical race wagering machines brought to the courtroom for a demonstration. A trial has been set for next September, more than a year from now.
Santa Anita Park's 39-day spring meet concluded June 28 with gains in both on-track attendance and overall pari-mutuel handle.
Boosted by record wagering on the Kentucky Derby Presented by Yum! Brands (gr. I) card, Churchill Downs registered a 2.46% increase in pari-mutuel handle during its 38-day spring meet.
The British Horseracing Authority will create a Horseracing Bettors Forum designed to give those who wager on racing a chance to offer "constructive suggestions" on how the industry can develop and implement changes.
The United States Department of Treasury and Internal Revenue Service were told June 17 that current regulations related to the tax withholding and reporting of pari-mutuel winnings are "unfair and totally burdensome."
In its fiscal year financials filed June 17, parent company Betfair reported a strong year for its U.S. advance deposit wagering operation and racing channel, TVG.
Given record wagering during the opening week of its spring meet, Churchill Downs June 9 announced a 10% hike in overnight purses for the remaining 11 programs of the meeting.
The Maryland Jockey Club announced June 8 that Pimlico Race Course's 37-day spring meet ended June 6 with sharp increases over last year in total and average pari-mutuel handle.
All-sources pari-mutuel handle on the 13-race Belmont Stakes (gr. I) program June 6 totaled $134,839,391, down about 10.2% from last year's Belmont day program, which had the same number of races.
The first two days of the inaugural Belmont Stakes Racing Festival showed sharp increases in on-track and all-sources wagering over the same two days in 2014, the New York Racing Association announced June 5.
- By Frank Angst
- Thoroughbred Racing, Handicapping, Triple Crown, Kentucky Oaks, Kentucky, Mid-Atlantic Region
With pari-mutuel wagering up for the Kentucky Oaks day card, the Kentucky Derby day card, and the Preakness day card, racing enjoyed a 4.82% increase in wagering in the all-important month of May.
After a slow start that required a push for broad industry participation, the NTRA June 3 said more than 11,600 comments were submitted to the United States Department of Treasury on wagering tax changes.
Industry participation in the effort to win pari-mutuel tax withholding modernization has helped push the number of comments submitted to the federal government to about 9,500 as of May 26.
Monmouth Park reported strong gains in pari-mutuel handle and record attendance for its three-day Memorial Day weekend May 23-25.
The National Thoroughbred Racing Association is urging horseplayers and other industry stakeholders to submit comments in support of modernization of gambling withholding and reporting to the U.S. Department of Treasury.
Churchill Downs Inc. has filed suit against Daily Racing Form, alleging the company's DRF Bets wagering service violated the Interstate Horseracing Act when it took bets on this year's Kentucky Derby and Oaks.
The Maryland Jockey Club reported record attendance of 131,680 for the May 16 Xpressbet.com Preakness Stakes (gr. I) at Pimlico Race Course as well as an increase in pari-mutuel handle from last year's event.
Saying the bill would have expanded gambling in Indiana, Gov. Mike Pence has vetoed a bill that would have allowed state residents to use advance deposit wagering to bet on horse races.
Though there was a slight decline in the number of races run in April, wagering and purses rose 5.86% and 4.92% in the U.S. when compared with April 2014, according to the racing economic indicators from Equibase.
Average field size at Gulfstream Park for its Dec. 6, 2014-April 5 race meet grew 13.1% from 8.4 to 9.5 horses per race, while average daily all-sources pari-mutuel handle slipped 1.7% but was still a solid $8.1 million.
Keeneland will ask the Kentucky Horse Racing Commission May 6 for permission to offer Thoroughbred simulcasts at The Red Mile, the Lexington harness track that is constructing a facility for historical race wagering machines.
All-sources pari-mutuel handle on the 13-race Kentucky Derby Presented by Yum! Brands (gr. I) program May 2 totaled a record $194.3 million, up 4% from $186.6 million in 2014, Churchill Downs Inc. said.
Effort falls short in 2015 but advanced farther than ever this spring. Download Now
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.
New York regulators April 27 approved rules to enhance certain kinds of wagering on Thoroughbred races, which promoters believe will boost revenue and field size.
Keeneland concluded its 15-day meet April 24 with overall on-track attendance ranking the fourth-highest in spring meet history, but pari-mutuel handle figures were off from last year's meet.
Gulfstream Park will open its 2015 spring/summer racing season April 8 with an eight-race card topped by a $46,000 allowance optional claimer that includes the Todd Pletcher-trained stakes runner Vinceremos.
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