Mon, 06/13/2016 - 11:50

‘Pharoah effect' largely debunked as Triple Crown business figures dip

The 2016 Triple Crown is now in the books, with a different horse winning each of the three legs of the series. Business results from the races affirmed what the industry already knew – that a Triple Crown try is great news for the third leg, the Belmont Stakes. But another dubious theory – that American Pharoah’s Triple Crown win last year, which ended a 37-year drought, would provide a boost to the series this year – did not pan out, with little evidence that racing benefited significantly from what was undeniably the most positive coverage of racing in two decades.

Sun, 06/12/2016 - 11:43

Golden Gate Fields: Mandatory payout for Golden Pick 6 on Sunday

Golden Gate Fields will have a mandatory Golden Pick 6 payout Sunday with $1,408,071 carried over in the pool after multiple tickets hit all six winners Saturday.

Saturday’s winners shared a consolation payoff of $4,035.84 each. The jackpot pool pays off only when a single ticket picks all six winners, but, because Sunday in closing day for the track’s winter/spring meeting, the entire pool must be paid out.

The Golden Pick 6 will run from races 7-12.

Sun, 06/12/2016 - 11:10

Belmont Stakes TV ratings decline

The two-hour broadcast of the Belmont Stakes on NBC Saturday drew a 4.3 rating, the network said Sunday, down 6.5 percent from the rating of the same broadcast in 2013, when no Triple Crown was on the line as well.

Share for the broadcast was a 10, NBC said. Share measures the percentage of televisions in use at the time that are turned to a specific broadcast.

Sun, 06/12/2016 - 11:06

Breeders' Cup Classic, Turf get purse boosts of $1 million apiece

The purses for the Breeders’ Cup Classic and the Breeders’ Cup Turf have each been raised by $1 million, Breeders’ Cup Ltd. announced Saturday through its broadcast partner, NBC.

Sat, 06/11/2016 - 21:12

Belmont Stakes handle drops 37 percent

All-sources betting on this year’s Belmont Stakes at Belmont Park in New York was down 37 percent compared with wagering on the race last year, when interest in the race was buoyed significantly by the popular and ultimately successful bid for a Triple Crown by American Pharoah, according to charts of the races.

Fri, 06/10/2016 - 16:56

Michigan racing bills await governor's signature

A pair of bills to amend and update Michigan’s Horse Racing Law of 1995 await the signature of Gov. Rick Snyder after being approved by the state legislature on Thursday.

The proposed changes include redistributing the state’s simulcast purse pools to a “site specific” model, enacting a horse racing advisory committee, firming up rules against advance deposit wagering within the state, and adjusting the minimums required to apply for race dates.

Fri, 06/10/2016 - 16:06

Outcome in Lynch case not out of line, regulators say

When Brian Lynch, a successful New York trainer, surrendered his license this week to the New York State Gaming Commission after testing positive for a chemical related to marijuana, many people in the racing industry expressed astonishment that testing positive for the drug, legal in some shape or form in 25 states now, could lead to such a dramatic outcome.

Fri, 06/10/2016 - 14:51

Comptroller's office says NYRA fails to generate surplus from racing operations

The New York Racing Association has overstated the financial results from its racing operations in recent years and has not been able to generate a surplus from the racing side of its business, contrary to what its top officials have claimed, the New York Comptroller’s Office contends in an audit of the association released Friday.

Thu, 06/09/2016 - 15:56

Federal bill seeks changes in reporting of parimutuel winnings

A federal bill providing funding for the IRS and other agencies includes language asking federal tax authorities to consider changes to the taxing and reporting of parimutuel winnings that would be beneficial to horseplayers, according to the National Thoroughbred Racing Association, which has been lobbying for the changes.

Thu, 06/09/2016 - 13:36

Cuomo wants to cap casino subsidy to NYRA

New York Gov. Andrew Cuomo has introduced legislation that would return the New York Racing Association to private control but reserve six appointments to NYRA’s board for the state governor and place a cap on the amount of money that NYRA receives as subsidies from a casino adjacent to its Aqueduct Racetrack in Queens.