Subsidies provided by Indiana casinos to the state’s Thoroughbred horsemen through purses and breeders’ funds would drop 23 percent in 2012 under a proposed budget introduced by Gov. Mitch Daniels, according to a fiscal impact statement distributed by the state.
Churchill Downs Inc. has reached a five-year extension to an agreement that made Yum! Brands the “presenting sponsor” for the Kentucky Derby, the two companies announced late on Thursday.
With the highly anticipated announcement for Horse of the Year just days away, the co-owner of Zenyatta, and the trainer of Blame, both said they would be “disappointed” if their horse was not named Horse of the Year, but the difference in their level of discomfort was stark.
Sand Cove, who earned $379,055 in stakes races last season, has been named the overall winner of the local Canadian Thoroughbred Horse Society’s 2010 Ontario-sired racing rewards program.
The New Jersey Senate and Assembly passed legislation late on Monday night that would direct $30 million over the next three years from a newly created state casino fund to the New Jersey Racing Commission, according to reports.
The New Jersey Senate and Assembly passed legislation on Monday that would direct $30 million over the next three years from a state casino fund to the New Jersey Racing Commission, according to reports. Under the legislation, the commission would receive $15 million from the state’s Casino Redevelopment Authority in 2011, then $10 million in 2012, and $5 million in 2013.
Total wagering, purses, and race days all fell significantly in 2010 compared to 2009, according to figures released on Wednesday by the Jockey Club, with betting on U.S. races declining to its lowest level since 1995.
Frank Stronach, the chairman and controlling shareholder in MI Developments, has offered to swap all of his supervoting shares in the company for all of MI Developments’s racing-related assets, including Santa Anita Park in California and Gulfstream Park in Florida, the company announced on Wednesday.
The Maryland Racing Commission on Tuesday rejected a proposal by the owners of Laurel Park and Pimlico Racecourse to run 146 live race dates at the tracks in 2011 after horsemen expressed opposition to several provisions in the proposal, according to reports.
Trading of shares of MI Developments was halted on the Toronto Stock Exchange on Tuesday after reports of a potential deal that would allow the company’s chairman, Frank Stronach, to swap his controlling stake in the company for its racing assets.
