Fri, 05/18/2007 - 00:00

TVG sues XpressBet, Magna

Television Games Network, the horserace broadcast and account-wagering company, has filed a lawsuit against one of its competitors, XpressBet, and XpressBet's parent company, Magna Entertainment Corp., alleging the companies infringed upon two patents held by TVG, according to an announced from TVG.

Wed, 05/16/2007 - 00:00

Barretts sale sets records

POMONA, Calif. - Despite the absence of a seven-figure purchase, Tuesday's Barretts May sale of 2-year-olds in training produced a record gross of $11,331,300 and a record average of $62,604 for 181 horses sold at the one-day sale.

Last year, the sale topper was an auction record $2.5 million for a Red Bullet colt. Tuesday, the sale topper was a Sky Mesa colt purchased for $650,000 by Dennis and Michael Narlinger's JMJ Racing Stable from the consignment of Becky Thomas's Sequel Bloodstock.

The Sky Mesa colt brought the second-highest price in the history of the May sale.

Fri, 05/11/2007 - 00:00

Booklet, Carson City 2-year-olds highlight Barretts sale

Last year, the Barretts May sale of 2-year-olds in training was led by a Red Bullet colt that sold for a record $2.5 million. Records also were set for gross ($10.5 million) and average ($52,573), and the sale equaled the record median ($27,000).

For Tuesday's one-day sale, Barretts president Gerald McMahon said he would be pleased to equal that average and median.

Thu, 05/10/2007 - 00:00

CHRB budget at issue

A California Senate subcommittee eliminated the California Horse Racing Board's $10.8 million budget for the 2007-08 fiscal year at a hearing in Sacramento on Wednesday, according to the office of Senator Leland Yee, who asked for withdrawal of the funding.

The subcommittee will address the board's budget at upcoming hearings. If the funding is not restored by July 1, the start of the fiscal year, it could threaten the continuation of live racing in the state because the board's budget includes funding for drug testing and the salaries of racing officials.

Wed, 05/09/2007 - 00:00

Account wagering on Derby falls

Customers of domestic-based account-wagering companies bet $6.2 million on the Kentucky Derby last Friday and Saturday, a sharp drop-off from the estimated $11 million to $12 million in bets on the Derby last year through telephone and Internet betting operations, according to officials of Churchill Downs Inc.

Wed, 05/09/2007 - 00:00

Magna income increases

Magna Entertainment Corp., the publicly traded racetrack owner, had net income of $2.47 million in the first quarter of 2007, an increase of 11.6 percent over last year's first-quarter net of $2.21 million, according to financial statements released by the company Wednesday.

Tue, 05/08/2007 - 00:00

Bill would boost NYTHA funding

The New York Senate passed two bills Tuesday afternoon that would increase funding for the state's horsemen's association on a one-year basis and allow racetracks and off-track betting companies to coordinate racing schedules without fear of running afoul of antitrust concerns.

Both bills originated in the Senate's Racing and Wagering Committee, which is chaired by Sen. Bill Larkin, and will be sent to the Assembly's Racing and Wagering Committee for deliberation.

Mon, 05/07/2007 - 00:00

Sale integrity panel sets sights on medication, ownership issues

LEXINGTON, Ky. - In its first meeting in Lexington on Monday, the revived and expanded Sales Integrity Task Force established three committees that will take on three contentious issues: disclosure of medications in sales horses, disclosure of sales horses' ownership interests, and the potential licensing of bloodstock agents.

Mon, 05/07/2007 - 00:00

Derby handle takes dip; first decline in 16 years

All-sources wagering on Saturday's Kentucky Derby at Churchill Downs and its undercard declined for the first time in 16 years, according to figures released by the racetrack.

Though the declines were marginal, down 0.1 percent on the Derby and 4.1 percent on the card, wagering on the Derby and its undercard has grown astronomically over the past decade and a half, fueled by a large rise in the number of wagering outlets and the emergence of account wagering. In many of those years, growth compared to the previous year was in the double digits.

Mon, 05/07/2007 - 00:00

Derby TV rating up 12 percent

The overnight television rating for Saturday's Kentucky Derby broadcast on NBC-TV was an 8.3, up 12 percent compared to last year's broadcast, according to figures released by NBC on Sunday.

The rating was tied for the highest Derby rating since 1992. In 2001, 2002, and 2004, the overnight rating for the broadcast was also an 8.3.

Overnight television ratings measure the number of estimated viewers in large U.S. markets, as determined by the broadcast research company Nielsen Media Research. Each overnight rating point is equivalent to approximately 667,000 households.