The Nasdaq stock market has notified Youbet.com, the online horse race broadcasting and wagering company, that the company has regained compliance with its regulations after its stock traded above $1 for 10 consecutive trading days, the company announced.

LEXINGTON, Ky. - Fasig-Tipton Midlantic’s May preferred 2-year-old sale ended Tuesday evening with declines compared to last year, despite lively trade at the top of the market at the Timonium, Md., auction.

The two-day auction sold 327 horses for gross receipts of $15,757,400, down 19 percent from last year’s total for 350 horses. The average slipped 14 percent, from $55,711 last season to $48,188, and median fell 19 percent, from $34,500 to $28,000.

The California Horse Racing Board at a meeting on Tuesday approved a motion to reclassify four anabolic steroids as Class 3 drugs in an effort to stiffen penalties for violations of the powerful drugs by the fall.

The four steroids – boldenone, nandrolone, stanozolol, and testosterone – will only be permitted to appear in trace levels in postrace blood and urine tests beginning July 1 under new rules that prohibit all other anabolic steroids. The steroids are currently classified as either Class 4 or Class 6 medications.

LEXINGTON, Ky. - The Kentucky Equine Drug Research Council formed two subcommittees at a meeting on Tuesday to provide the council with information about the potential regulation of anabolic steroids and how to improve the state's necropsy program.

wo days after the Preakness at nearby Pimlico, Fasig-Tipton Midlantic opened its May preferred 2-year-old sale at Timonium, Md.

The two-day auction began Monday with four horses bringing bids of $200,000 or more by 5:30 p.m., though buy-backs also were running above 30 percent at that hour.

The most expensive juvenile by that time was Hip No. 286, a $230,000 E Dubai colt out of Twice Forbidden. Donald Brooks bought the bay colt, a half-brother to stakes winners Don Corleone and Tin Cup Chalice, from agent Nick de Meric.

The California Horse Racing Board has launched an investigation into the sale of so-called "Quick-Pick" bets in the state after discovering that the machines selling the bets have been malfunctioning, the board said on Monday.

As part of the investigation, the board has prohibited the state's bet-processing company, Scientific Games, from selling quick-pick tickets, which allow bettors to buy tickets in which the horses selected for the wager are picked by a random-number generator. The generator can be used for any type of wager.

LEXINGTON, Ky. – The Kentucky Horse Racing Authority has hired an equine medical director and authorized the formation of a committee to issue recommendations on health and safety regulations.

Dr. Mary Scollay, the senior association veterinarian at Calder Race Course and Gulfstream Park in Florida, will begin as the authority’s equine medical director in early July, according to authority officials. As equine medical director, Scollay will oversee the state’s drug-testing policies and procedures and consult the authority on equine health and medication issues.

LEXINGTON, Ky. - Three Chimneys Farm's private stud deal for Big Brown came together just hours before the colt won the Preakness on Saturday after two weeks of intense work and negotiations by new farm president Case Clay.

Under the agreement signed Saturday morning, International Equine Acquisitions Holdings sold an undisclosed minority interest in the Kentucky Derby and Preakness winner for a private amount that bloodstock insiders estimate puts the colt's total value at $50 million.

LEXINGTON, Ky. - Kentucky Derby and Preakness winner Big Brown will head for stud at Three Chimneys after his racing career, which owner International Equine Acquisitions Holdings has said will end with his 3-year-old season.

A group representing racetracks in eight states has reached a multiyear deal with the New York Racing Association that will allow the tracks to import the association's races, officials of the two sides said Friday.