Despite growth in its online pari-mutuel wagering and Louisiana slots operations, the top executive of Churchill Downs Inc. said May 7 the company is not ignoring its racing properties, but needs legislative help to keep them viable entities.
Citing the absence of insurance payments received in 2008, Churchill Downs Inc. reported a net loss of $4.8 million in the first quarter of the year, but said a 12% increase in net revenues were attributed to strength in its Louisiana gaming business and on-line wagering operation.
Churchill Downs announced April 25 that advance-deposit wagering companies TwinSpires.com and Youbet.com, Inc. will offer the Churchill Downs signal for the racetrack's 2009 spring meet.
Wagering on the Churchill Downs spring meet may again be restricted to customers of certain betting outlets, although negotiations appear to be ongoing to include some that are on the outside looking in.
Keeneland officials announced March 31 that, for the first time, wagering on the track's upcoming spring race meeting will be available on all major North American betting platforms.
A trio of large domestic advance deposit wagering companies is facing a shut-off of operations in Maryland unless a new agreement for revenue sharing is reached, the Maryland Racing Commission said recently.
Even though TVG, TwinsSpires.com, and XpressBet.com enjoyed handle growth in 2008, total wagers processed by advance deposit wagering entities through hubs in Oregon decreased for the first time this decade, though the numbers are skewed by actions related to another member of the "Big Four," Youbet.com.
A Kentucky lawmaker has introduced legislation that would impose a 3.5% tax on out-of-state advance deposit wagering companies that take bets from Kentucky residents.
Tom and Evan analyze the San Carlos Handicap (gr. II) at Santa Anita on February 21. The Wizard's Spotlight Play is Race 1 at Fair Grounds on Saturday.
Vernon Niven has left Churchill Downs Inc. for personal reasons, the company announced Feb. 12. Niven, who since October 2006 has served as executive vice president of CDI and president of Twinspires.com, will vacate his posts in June after the conclusion of the 2009 Triple Crown.
Here's a fact: Some domestic advance deposit wagering outlets are openly offering cash rebates to customers that wager on California racing signals.
TwinSpires.com, the official advance deposit wagering service for Churchill Downs Inc., will provide an inside look at the DRF/NTRA National Handicapping Championship from Red Rock Casino in Las Vegas by providing online video coverage of the event throughout the Jan. 23-24.
After running the longest Thoroughbred meet in its 12-year history at 45 days, officials with Colonial Downs Dec. 17 proposed a 25-day meet in 2009.
TwinSpires.com, the advance deposit wagering service for Churchill Downs Inc. has rescheduled its "Biggest Vegas Qualifier Ever" online handicapping contest for Jan. 3, 2009.
This week, Jason and Tom analyze the Clark Handicap (gr. II) at Churchill Downs on November 28. Also Brisnet's handicapping expert "The Wizard" gives his "Spotlight Play" for Fair Grounds Race 8 on November 28.
This week, Jason and Tom analyze the River City Handicap (gr. IIIT) at Churchill Downs on November 22. Also Brisnet's handicapping expert "The Wizard" gives his "Spotlight Play" for Fair Grounds Race 3 on November 22.
Members aligned on different sides of advance deposit wagering's "Big Four" reported mixed handle results in the third financial quarter amid declining national betting trends.
Jason and Tom analyze the Cardinal Handicap (gr. IIIT) at Churchill Downs on November 15. Also Brisnet's handicapping expert "The Wizard" joins the team with his "Spotlight Play".
The signal for the Fair Grounds race meet starting Nov. 14 will be available to a wider variety of advance deposit wagering outlets, a group that does not include TVG, Churchill Downs Inc. announced Nov. 12.
Churchill Downs, for the second time, has cut purses for its fall meet. Among the casualties is the grade II Clark Handicap scheduled for Nov. 28.
One old betting axiom -- "shut out at the window" -- has taken on a whole new meaning when paired with a relatively new one in the racing industry lexicon: "signal wars."
About 1,000 Thoroughbreds could be forced to leave the grounds of Beulah Park by the end of this year if the racetrack and horsemen's association don't have a deal for advance deposit wagering revenue in place by Nov. 21, the day the Ohio State Racing Commission will award racing dates for 2009.
Churchill Downs said Oct. 24 it has not yet received consent from horsemen to distribute its racing signal to national advance deposit wagering sites for its fall meet, which starts Oct. 26.
While signal distribution at racetracks continues to be a hot topic in the horse racing industry, that doesn't appear to be the case at Hawthorne Race Course, which opens its meet Sept. 26.
Blaming a decline in purse money earned earned from wagering sources during its 2008 spring meet, Churchill Downs Racetrack has slashed its stakes program for the upcoming fall meet by $975,000 through purse reductions in 11 stakes races and the elimination of two others.
Churchill Downs Inc. has fired back at horsemen's groups it has sued over alleged federal antitrust violations, calling their collective actions "price-fixing, pure and simple."
Turfway Park said Aug. 20 it has received horsemen's consent to distribute its racing signal for the upcoming fall under the auspices of the present exclusive agreement with TVG, thus ending any speculation of a standoff similar to those plaguing other tracks.
Several advance deposit wagering entities posted increased handle through the Oregon hub system in the second quarter of the year, despite an overall national decline blamed primarily on a revenue-sharing dispute between horsemen's groups and various tracks.
Churchill Downs Inc. said Aug. 6 it was pleased with its second quarter results despite various challenges that left the company with flat earnings in year-over-year comparison, claiming a high-profile dispute with horsemen had "little impact" on certain aspects of its financial performance.
Handle jumped more than 50% in the first three days of the Ellis Park meet, which started a week late due to a disagreement over revenue sharing.
Two advance deposit wagering companies operating through the hub system in Oregon recently had their annual license renewals tabled by the state's racing commission, but will be able to rectify the situation at an upcoming July 17 meeting.
A federal judge in Louisville on June 16 denied the Kentucky Horsemen's Benevolent and Protective Association's request for a preliminary injunction to require Churchill Downs Inc. to consult with it before cutting purses at Churchill Downs.
The Colonial Downs signal will be barred to at least three wagering outlets for its upcoming live meet. The Virginia racetrack joins the list of tracks whose betting options have been curtailed by disputes with horsemen's groups over revenue sharing.
In a flurry of responses filed recently in federal court, Kentucky horsemen claim Churchill Downs Inc. owes purse funds upwards to $3 million in unpaid fees from wagering revenues, and have asked a judge to force the racetrack company to pay out funds lost from a 20% purse cut.
Some bettors are frustrated with the current dispute between horsemen groups, racetracks, and advance deposit wagering companies over revenue sharing. They feel they've been neglected in the process, and threaten to take their wagering dollars elsewhere.
Advance deposit wagering through the Oregon hub system grew nearly 3% in the first quarter of 2008 despite an overall decline in national betting numbers in North America.
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.
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.
The Thoroughbred Horsemen's Group claims it wants advance deposit wagering entities to pay a fairer share into purse coffers, but those on the other side of the negotiating table claim the math simply doesn't add up.
Account wagering companies that take bets on races from Lone Star Park must agree to a new formula that gives an equal share of pari-mutuel revenue to the racetrack, horsemen, and the wagering provider.
Wagering through the Oregon Racing Commission hub system jumped 17.4% in 2007, according to data compiled by the state regulatory agency.
TVG has announced an exclusive multi-year agreement that ends an 18-month hiatus of Hawthorne Race Course from the racing network's line-up, and the Illinois track says it is all part of bigger plan to broaden its own plans for a self-run wagering entity.
Phantom Fiber Corp. and Churchill Downs Inc.'s advance deposit wagering entity, Twinspires.com, are teaming up to bring a wagering platform to mobile phones and personal digital assistants, or PDAs.
Churchill Downs Inc. has announced it has consolidated its four individual advance deposit wagering platforms into one common site, www.TwinSpires.com
Fueled by a record total from TVG, wagers handled through Oregon hubs jumped 19.7% for the third quarter of 2007, according to data released by the state's racing commission.
California will embark on an eight-month experiment Nov. 7 that will allow all advance deposit wagering providers in the state access to all Thoroughbred signals.
International Racing Group and parent company Youbet.com are facing a Nov. 12 deadline in regards to IRG's license to operate a wagering hub in Oregon, and basically have two avenues to pursue for continued operation there.
As California continues to wrestle with improving advance deposit wagering, the state welcomed a new provider. TwinSpires.com was awarded an ADW license Oct. 18, making it the fourth company to offer home computer betting on horse racing in the state.
Though some decisions within the past year have been unsettling to some, Churchill Downs Inc. president and chief executive officer Robert Evans told shareholders it is all part of being competitive.
Louisiana operations helped Churchill Downs Inc. narrow its first-quarter loss, the company reported May 8.
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