Handle on U.S. Thoroughbred races in 2009 plunged 9.9 percent compared to 2008, sending handle to its lowest level since 1996, according to Equibase, as the recession and myriad internal problems continued to hammer away at the U.S. racing industry's declining market share.

Betting on U.S. races, including wagers made in foreign countries, was $12.3 billion in 2009, down from $13.7 billion in 2008. Handle has declined 16.3 percent since 2007, when wagering on U.S. races was $14.7 billion.

Objections filed to OTB bankruptcy

By Matt Hegarty

The New York Racing Association and the New York Thoroughbred Horsemen's Associations are seeking to dismiss a bankruptcy petition by New York City Off-Track Betting Corporation, according to objections the two groups have filed with the bankruptcy court.

An auction of Pimlico Race Course and Laurel Park scheduled for Friday has been postponed to Jan. 21 after the tracks' parent company, Magna Entertainment Corp., asked a Delaware bankruptcy judge for more time to come to terms with potential bidders for the two Maryland tracks.

Sean Clancy, the co-publisher of Steeplechase Times and the Saratoga Special, will receive the Eclipse Award for Writing in the News/Commentary category for a column that appeared in the Dec. 30, 2008, edition of the Blood-Horse magazine it was announced Tuesday.

Clancy, a journalist who is a former jumps rider, wrote about his experiences at a 2008 estate sale for the late Sidney Watters Jr., a trainer on both the flat and over jumps who had died earlier that year on Feb. 14. The column was entitled "Life's Work."

James E. "Ted" Bassett, the influential racing-industry executive, has resigned from the Breeders' Cup Board of Members and Trustees, the Breeders' Cup said on Tuesday. Bassett, the president of the Breeders' Cup from 1988 to 1996, has served on the board for two decades.

The New York Racing Association says it's going broke. A casino approved for Aqueduct in 2001 is in limbo, held up by mysterious political maneuvering. And racing industry officials and politicos are trying to figure out what to do with New York City Off-Track Betting Corporation, which is in desperate need of shedding layers of fat built over a nearly 40-year existence of serving New York's bloated political machine.

Churchill Downs Inc. has reached an agreement with its bank that will allow the company to borrow up to $275 million, a sharp increase from its existing credit limit which may indicate that Churchill is looking to acquire other properties.

Penn National Gaming Inc., which owns gambling operations across the U.S., and Blow Horn Equity, a private group headed by bloodstock consultant Jeff Seder, have identified themselves as two of the six bidders for Pimlico Race Course and Laurel Park in Maryland.

The Thoroughbred Racing Protective Bureau, an investigative arm of the racing industry owned by racetracks, plans to develop a mechanism to ensure that betting closes prior to a race starting, the organization announced on Thursday.

The Florida Division of Pari-Mutuel Wagering has informed Hialeah Park and Gulfstream Park that neither is eligible to receive a Thoroughbred racing permit once held by Hialeah because the permit does not exist, officials involved in the matter said Thursday.