Churchill Downs Inc. had net income of $40.7 million in the second quarter of 2011, a 45-percent increase over second-quarter earnings last year, largely on the strength of higher revenue from the company’s casino and account-wagering operations.
Penn National Gaming Inc., one of the largest racetrack and casino companies in the U.S., had net income of $76 million in the second quarter of 2011, a sharp increase over second-quarter net income last year of $9.2 million.
Officials of the Jockey Club and the consulting firm McKinsey and Company will present the results of an economic study that McKinsey recently completed at the Jockey Club’s annual Round Table Conference on Matters Pertaining to Racing on Aug. 14 in Saratoga Springs.
A California-based horse owner on Wednesday filed a lawsuit against the Kentucky Horse Racing Commission asking a Kentucky court to strike down a rule that restricts claimed horses to running at the track at which the horse was claimed until the track’s meet is over.
Six candidates are seeking three open seats on the Breeders’ Cup’s board of directors, the Breeders’ Cup announced on Thursday, when voting for the candidates opened.
Wagering on U.S. Thoroughbred races continued to decline in June as racetracks slashed race dates to cope with a shrinking supply of horses.
The New York Racing Association announced Thursday that Hal Handel, chief operating officer, would resign his posittion and leave the company at the end of the Saratoga race meeting.
Frank Stronach, who is set to take over the racing and gambling assets owned by MI Developments on Thursday, has sold approximately $850 million of stock in the auto-parts company he founded since December, according to regulatory filings.
Handle through two of the three leading national account-wagering platforms in the United States declined in the first quarter of 2011 compared with the first quarter of 2010, according to figures from the platform operators and regulators in Oregon, where the platforms have betting hubs. The decline signals a contraction in the account-wagering market for perhaps the first time.
Corinne and Bill Heiligbrodt, among the nation’s leading owners with more than $21 million in purse earnings since 2005, will disperse their bloodstock and take a hiatus from Thoroughbred ownership, among the nation’s leading owners with more than $21 million in purse earnings since 2005, will disperse their bloodstock and take a hiatus from Thoroughbred ownership
