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Keeneland Wagering Expanded

Keeneland Wagering Expanded

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.

Youbet Set for Illinois Wagering

Youbet Set for Illinois Wagering

Youbet.com has reached an exclusive agreement with four Illinois racetracks to offer advance deposit wagering access to residents of the state, a deal that is being called the first of its kind because of its revenue sharing program.

Rose Sues KHRA Over Advertising

Rose Sues KHRA Over Advertising

An attorney for jockey Jeremy Rose is petitioning a judge in Kentucky to strike down an amended regulation, enacted prior to the 2005 Kentucky Derby (gr. I), that control whether riders can wear advertising on their pants. Rose and Kent Desormeaux were both penalized by the state's racing authority for wearing advertising during the 2005 Derby.

Commentary: Broad Cast

By Dan Liebman - During dinner with colleagues the night of Dec. 29, a member of the party returned to the table and mentioned how the New York Giants were leading the New England Patriots in the fourth quarter. A television in an adjacent room was showing the game on CBS.

IRG Contests Oregon Suspension

IRG Contests Oregon Suspension

International Racing Group has contested a decision by the Oregon Racing Commission to suspend its state operating license, and will continue to conduct business through its hub pending an administrative law hearing.

Former Youbet CEO Resigns Board Position

Former Youbet CEO Resigns Board Position

Former Youbet co-founder and chief executive officer David Marshall has resigned his position as vice-chairman of the company's board of directors, according to an Oct. 30 filing with the U.S. Securities and Exchange Commission.

Youbet In, IRG Out Among Those with Breeders' Cup Agreements

Youbet In, IRG Out Among Those with Breeders' Cup Agreements

Breeders' Cup Ltd. has anounced agreements to carry the World Championship signals with all major account deposit wagering platforms, including Youbet.com, which has been involved in a federal investigation regarding activities of its off-shore wagering entity, International Racing Group.

Magna Packaging Properties to Drive Down Debt

Officials with Magna Entertainment spent a good deal of time May 9 highlighting the company's continued attack on staggering debt, and how it will correct an admittedly disappointing start for the slots operations at Gulfstream Park.

Youbet Reports 62% Handle Growth in 2006

Youbet reiterated its desire to work with the new TrackNet Media team of Churchill Downs and Magna Entertainment, hoping to build off a fifth-straight year the wagering company reported double-digit handle growth.

Pletcher Joins Lukas in Youbet Online 'Stable'

  • News

A decade after he left the employ of Hall of Fame trainer Wayne Lukas to start his own business, 2006 trainer of the year Todd Pletcher and his mentor are in the same "stable" again, this time as endorsement partners with Youbet.com, where the mission is to win new customers.

Youbet Hails Decision in TVG Arbitration Fight

Youbet.com Inc. must pay about $1.3 million to its license partner TVG for underpayments during a three-year content agreement that ended March 31, 2005, an arbiter ruled Nov. 16. TVG initially claimed it was owed $5.8 million.

Youbet .com Reports Strong Gain in Net Income

  • News

On the heels of increased revenue growth from International Racing Group, Youbet.com reported a record second-quarter net income of $2.2 million for the period that ended June 30. The figure is up from $1.3 million in the second quarter of 2005.

Lawmaker Says Youbet.com Violating Cease-and-Desist Orders

Youbet.com, the online wagering company headquartered in California, plans to review statements given by Rep. John Conyers Jr. of Michigan during the May 2 U.S. House of Representatives Judiciary Committee hearing at which the Democratic Congressman said the company is operating despite a cease-and-desist order from the office of the U.S. attorney general.

Youbet.com Reports Handle Increase Preakness Day

Youbet.com handled $4.2 million Preakness Stakes (gr. I) day to top last year's same day handle by 18.5%. The May 20 figure is the second-highest in the history of the account wagering service.

Youbet.com Sets New Handle Record on Derby Day

Youbet.com, the online wagering company with headquarters in Southern California, handled $5.6 million Kentucky Derby day, May 6, an increase of 34% from 2005 and the highest one-day amount in the history of the company.

Youbet Chairman Discusses Launch of Youbet.net

Chuck Champion, president and CEO of Youbet.com discussed the launch of a new Web site, Youbet.net, Wednesday afternoon during the annual convention of the Association of Racing Commissioners International. Youbet.net will be a learning site for new players to learn more about pari-mutuel wagering.

Youbet.com Announces Management Changes

  • News

In management changes announced by Youbet.com, Joe Tracy will head a new subsidiary that will develop technology-based games, products, and services, while Jeff True will serve as president of United Tote, which Youbet.com acquired earlier this year.

California Ponders Offshore Betting Options

Frustrated with the lack of federal prosecution of illegal offshore gambling operations, the California Horse Racing Board is considering action to curtail the advertising and promotion of such activity by publications and broadcasters.

Youbet.com Has Deal to Buy Tote Company

  • News

Youbet.com, which earlier this year purchased an offshore wagering company, has entered into an agreement to purchase United Tote for $49 million, the company announced Dec. 1. United Tote supplies tote services to more than 90 pari-mutuel facilities in North America.

High-Volume Shop Licensed by Oregon Regulators

International Racing Group, a rebate shop located in Curacao but owned and operated by United States-based Youbet.com, was licensed by the Oregon Racing Commission Nov. 2, and is the first such entity to be licensed by U.S. regulators.

Youbet.com Handle Up 33% on Belmont Day

  • News

Youbet.com, the California-based online wagering service, handled $3.4 million June 11, Belmont Stakes (gr. I) day, to bring its three-day Triple Crown total to $9.5 million. In 2003, the last time Youbet.com offered wagering on the Kentucky Derby (gr. I), Preakness Stakes (gr. I), and Belmont, total handle was $6.5 million, the company said.

Youbet Shareholders Elect Donn, Liebau as Directors

Youbet.com shareholders have elected R. Douglas Donn, former CEO of Gulfstream Park Racing Association, and F. Jack Liebau, president of Bay Meadows Racing Association, to serve on the company's board of directors. The two racing executives were elected at the Youbet.com annual shareholders meeting last week.

Youbet.com Purchases Offshore Wagering Company

Youbet.com has closed on its acquisition of International Racing Group, a Curacao-based account-wagering service, for $3 million. The purchase price includes $2 million in cash and $1 million worth of Youbet.com treasury stock.

Youbet.com Preakness Day Handle Up 75%

Youbet.com handled more than $3.5 million on Preakness day, May 21, up 75% from the $2 million wagered on the same day in 2003, the last year the online wagering service offered the race.

Youbet.com Has Strong Quarter; Eyes Expansion

Youbet.com registered double-digit increases in handle and total revenue for the first quarter of 2005, which helped boost net income for the online wagering company from $15,000 in the first quarter of 2004 to $1.03 million this year.

Licht Joins Youbet.com's Compliance Committee

  • News

Youbet.com, Inc. announced Monday that Roger H. Licht, former chairman of the California Horse Racing Board and a prominent horse racing legal expert, has agreed to become a member of the company's independent wagering compliance committee.

Youbet.com Wants to Buy High-Volume Shop

Youbet.com, which recently topped the $1-billion mark in handle, announced Feb. 8 it has a letter of intent to acquire International Racing Group, the Curacao-based account wagering company named but not charged in an 88-count federal indictment that alleged illegal gambling.

Youbet Contributes to University of Arizona Program

  • News

Youbet.com has contributed $100,000 to the University of Arizona's Race Track Industry Program to help endow a proposed faculty chair to conduct industry business research to head the RTIP's masters degree program.

Bay Meadows Signal Expands to TVG

The Bay Meadows racing signal will be available to all three legal account deposit wagering companies in California when the Bay Area track opens for business under new management Feb. 2.

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