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.
Skip to main content
Create Your DRF Account
New to DRF?
Everything you could possibly
need in one place
need in one place
Register
Don't have an account?
Register Here
DRF Past Performances
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.
The legislation, which has been sent to Gov. Chris Christie, would reportedly be distributed to racetracks and horsemen by the commission, though it was unclear on Tuesday how those distributions would be allocated. Officials for the commission and the state’s horsemen did not immediately return phone calls on Tuesday.
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 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.
Toronto financial regulators ordered the halt at 12:48 p.m., approximately one hour after Reuters reported the possibility of the deal to swap Stronach’s special-voting shares for the assets. The report cited unidentified sources.
The share price had risen 4.4 percent prior to the halt order, to $19.50.
The New York State Racing and Wagering Board on Tuesday approved 250 live racing dates at the three tracks operated by the New York Racing Association for 2011, three fewer dates than NYRA was scheduled to hold this year.
Under the schedule, NYRA will drop two Wednesday cards from the spring-summer meet at Belmont, which is slated to run from April 29 to July 17. In addition, NYRA will drop one card from the winter meet at Aqueduct, which begins on Jan. 1 and ends on April 23.
ARCADIA, Calif. - The California Horse Racing Board voted on Thursday to extend the operating licenses of four account wagering companies doing business in the state for one month, through Jan. 30, contingent on the companies completing simulcasting arrangements and other contracts with racetracks by Jan. 1.
The operating licenses of Xpressbet.com, TVG, Twinspires.com, and Youbet.com were subject to renewal at Thursday’s meeting at Santa Anita.
SAN CLEMENTE, Calif. – Mike Merrigan, the owner of the OC Tavern in this Orange County beach town, was a little surprised when an older lady walked into his sports bar recently.
“She was about 80,” he recalled earlier this week. “When she came in, I thought, she probably needs to use the ladies’ room, but she said, ‘When is the racebook going to open? Is it ready?’ ”
Merrigan told her the racebook was still under construction and offered her a quick tour, which she cut short.