Wed, 08/08/2007 - 00:00

Arlington signal moves to HRTV

The in-home racing signal for Arlington Park outside of Chicago was moved to HorseRacing TV beginning Wednesday as a result of the expiration of the track's contract with Television Games Network.

Arlington Park has been a fixture on Television Games Network since the channel was launched a decade ago. Earlier this year, Arlington's owner, Churchill Downs Inc., purchased a 50 percent share in HorseRacing TV from Magna Entertainment Corp., but could not move the Arlington signal to HRTV until the contract with TVG expired.

Wed, 08/08/2007 - 00:00

Churchill to stop releasing handle totals

Churchill Downs Inc. will no longer release handle and attendance figures at the ends of the meets of its four racetracks, the chief executive of the company, Bob Evans, said during a conference call on Wednesday morning.

Wed, 08/08/2007 - 00:00

Total, average both decline

SARATOGA SPRINGS, N.Y. - Nestor Varela knew what he was talking about when he predicted that Hip No. 142, a Mr. Greeley colt that sold Tuesday night at Fasig-Tipton's Saratoga select yearling sale, would bring about $2 million. Varela, 32, was in a position to know. He was both the colt's groom at Gainesway Farm and a shareholder in the group of Gainesway staff that sold him. So when Barry Irwin of the Team Valor syndicate paid Gainesway $2.2 million for the Mr. Greeley colt, Varela was proud but not entirely surprised.

Wed, 08/08/2007 - 00:00

Churchill to stop releasing handle figures

Churchill Downs Inc. will no longer release handle and attendance figures at the end of the meets of its four racetracks, the chief executive of the company, Bob Evans, said during a conference call on Wednesday morning.

Evans said the new policy was put in place because Churchill officials believe that handle and attendance figures are no longer "key metrics" and do not properly reflect the performance of the company's operating units.

Tue, 08/07/2007 - 00:00

Churchill earnings down on quarter

Churchill Downs Inc. had net earnings of $29.3 million in the second quarter of 2007, a decline of 12 percent compared with net earnings of $33.4 million in the second quarter last year, according to financial statements released Tuesday.

Net revenue in the quarter was $170 million, compared with $163.3 million in the second quarter of last year, a figure that included $10.1 million from insurance related to damage to its Fair Grounds in New Orleans because of Hurricane Katrina in 2005. Second-quarter expenses this year increased, however, from $115.2 million to $121.7 million.

Tue, 08/07/2007 - 00:00

Spitzer as yet undecided about N.Y. bidders

SARATOGA SPRINGS , N.Y. - Gov. Eliot Spitzer currently has "no plan" on his recommendation to award the franchise held by the New York Racing Association, according to his general counsel, Richard Rifkin, but still expects to make that recommendation by a self-imposed deadline of Sept. 4.

Mon, 08/06/2007 - 00:00

F-T Saratoga to sell 214 yearlings

SARATOGA SPRINGS, N.Y. - Fasig-Tipton's Saratoga select yearling sale opens Monday night with a larger catalog and a slight change to its calendar.

Fasig-Tipton shortened the auction from three days to two starting in 2005, holding the sale on Tuesday and Wednesday. This year the sale falls on Monday and Tuesday.

Sat, 08/04/2007 - 00:00

Ruling in fen-phen case

A U.S. District Court judge has ruled that three Lexington lawyers who are under indictment on charges of conspiracy must repay at least $42 million of a $200 million settlement the lawyers negotiated on behalf of plaintiffs in a 2001 suit against the maker of a diet-drug combination.

Two of the lawyers - Shirley Cunningham Jr. and William Gallion - own a 20 percent interest in 2007 Preakness Stakes winner Curlin, who was scheduled to start in Sunday's Haskell Invitational. The other lawyer is Melbourne Mills.

Thu, 08/02/2007 - 00:00

TrackNet imposes a limit on rebate shops

TrackNet Media, the simulcast marketing company owned by Churchill Downs Inc. and Magna Entertainment Corp., has reached an agreement with two prominent rebate shops that will prohibit the shops from awarding rebates to customers who do not bet more than $1 million a year.

Sat, 07/28/2007 - 00:00

Padua to refocus business

LEXINGTON, Ky. - Satish and Anne Sanan, who announced Friday that they will relocate their Padua Stables base of operations from Florida to Kentucky, plan to reduce the number of mares they own and return their focus to breeding horses to race.