Voters in Ohio rejected a referendum on Tuesday that would have allowed slot machines at nine sites in the state, including seven racetracks.
As of Wednesday morning, with 99 percent of the voting precincts reporting, the measure had failed by a vote of 57 percent against. Ohio voters had rejected constitutional amendments to expand gambling in the state on two previous occasions since 1990.
Penn National Gaming has entered into an agreement to purchase Zia Park and its slots casino in Hobbs, N.M., for $200 million, Penn National announced late Tuesday. The deal is subject to regulatory approvals, and is expected to close in mid-2007.
Zia is located in rural southeastern New Mexico. It became the states fifth racetrack when it opened for its inaugural season of racing in September 2005, and is currently conducting a mixed meet for Thoroughbreds and Quarter Horses.
The session sold 178 lots for gross returns of $65,880,000, which resulted in an average price of $370,112 and a $250,000 median. Gross was up 11opercent, average was up 20 percent, and median climbed 12 percent from last year's equivalent session, despite a 7 percent drop in number sold.
Ten horses sold for $1 million or more on Tuesday, bringing the two-day total to 27. Last year, only four sold for seven figures on the second session.
The buyback rate stayed almost the same. It was 24 percent this season, as compared to 23 percent in 2005.
Churchill Downs Inc., the racetrack owner and operator, had net income on continuing operations of $2.7 million in the third quarter of 2006 on revenues of $106 million, according to financial statements released Tuesday.
The third-quarter results were reported based on continuing operations because Churchill sold Ellis Park in the quarter and because the company sold Hollywood Park in the third quarter of last year, making comparisons difficult. With the sale of Ellis Park included, earnings were $8.7 million.
Youbet.com, the online horse racing and account-wagering company, lost $440,000 in the third quarter of 2006 after expenses rose sharply because of the acquisition of the bet-processing company United Tote, according to financial statements released Tuesday.
Last year during the third quarter, Youbet had net income of $1.8 million on revenue of $26.1 million. During this years third quarter, revenue increased 42.3 percent to $37 million, but expenses, largely because of United Totes operation, rose 53.3?percent to $37.4 million.
The Irish-bred Sadlers Wells mare Because brought $2.8 million from English bloodstock agent Hugo Lascelles in the opening hours of Tuesday's session of Keenelands November breeding stock sale. Lascelles said he purchased the 5-year-old mare, who is in foal to Kingmambo, on behalf of an unidentified international breeder who breeds to race rather than sell. Eaton Sales, agent, sold the mare, a full sister to Irish champion Quarter Moon and Irish 1,000 Guineas winner Yesterday.
LEXINGTON, Ky. - Young broodmares and broodmare prospects were very fashionable on Monday at the Keeneland November selected breeding stock sale's opening session, but it was a 3-year-old Unbridled's Song colt that stole the show.
Hip No. 295, an unbeaten Unbridled's Song colt named Half Ours, brought $6.1 million from Aaron Jones, setting a record price for a horse in training sold at Keeneland. The previous record was $4.6 million in 1989 for Open Mind. Jones was buying out his partner, Barry Schwartz.
Madcap Escapade, a Grade 1 winner and millionaire in foal to A. P. Indy, sold for $6 million as the early leader at the Keeneland November breeding stock sale's opening session Monday in Lexington, Ky. John Sikura's Hill 'n' Dale Farm purchased the 5-year-old mare, who is a half-sister to Grade 1 winner Dubai Escapade.
Sikura called the purchase "a long-term investment in a very special racemare" and said he hoped she would produce a sire in the future. Claiborne Farm, agent, sold Madcap Escapade; the mare is carrying her first foal.
LEXINGTON, Ky. - Last weekend was pretty good to Pablo Suarez. On Saturday, the 38-year-old cheered himself hoarse at Churchill Downs as Thor's Echo, the gelding he owns with Royce Jaime, scored an easy victory in the Breeders' Cup Sprint at 15-1. And on Sunday night, he was on hand at Fasig-Tipton's sale pavilion in Lexington to watch another Grade 1 winner he co-owns, Sharp Lisa, bring the November selected mixed sale's top price of $3.4 million.
Sheikh should be admired, not criticized
Andrew Beyer would better serve his readers by learning how to handicap the "all weather" tracks of the future, rather than being critical of Sheikh Mohammed, his brother, son, managers, and trainers. I'd like to invite Mr. Beyer to visit Central Kentucky where the Maktoum family has left a lasting impression and legacy. There are few commercial breeders who have not benefited directly or indirectly from the Maktoums' participation in the industry.
