The Jockeys’ Guild said it has asked a Kentucky judge to block rules that went into effect in June that set standards for safety vests and require riders to divulge details to the commission about their sponsorship agreements.
A set of recommendations released by Democrats in the New Jersey Senate that would legalize exchange wagering and streamline the approval process for local offtrack betting outlets was met with limited approval from state racing officials on Tuesday.The recommendations were released on Monday by the Senate Democrats in order to provide a framework for negotiations on a bill that is expected to be crafted later this year to address the deteriorating condition of the state’s racing and casino industries.
MI Developments will hire a financial adviser to perform an evaluation of an offer by its chairman, Frank Stronach, to buy all of the outstanding stock in the company, chief executive Dennis Mills said Wednesday.
Sportech U.K., a British gambling company, has completed its acquisition of the racing assets of Scientific Games, a deal that includes one of the three large bet-processing operations in U.S. racing, the companies announced on Friday.
U.S. live race days continued to plummet in September, contributing to further declines in total handle and purse distribution during the month, according to figures released by Equibase on Wednesday. Race days declined 12.5 percent and wagering decreased by 6.4 percent in year-over-year comparisons.
Shares in the racetrack operator MI Developments rose again on Tuesday, by 3.3 percent to $14.56, to remain well above a recent offer tendered by the company's chairman, Frank Stronach, to buy all of the stock in the company that he does not already own for $13 a share.
The bankrupt New York City Off Track Betting Corporation has reached a tentative deal with its union that would result in the loss of 550 jobs at the company and the transfer of OTB’s account-wagering operations to state racetrack operators, including the New York Racing Association, according to the union.
California Gov. Arnold Schwarzenegger signed a bill on Thursday that will increase the takeout on exotic bets on California races to fund an increase in overnight purses beginning this winter.
Kentucky Gov. Steve Beshear has signed an emergency regulation that would allow horseracing regulators to draw samples from racehorses at any location, and at any time.
Churchill Downs Inc. has reached an agreement to buy a Mississippi hotel and casino for $138 million, in a deal that could land the company its first non-racing property.
