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The Biz

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Churchill Downs Inc. Posts Lower Third-Quarter Earnings, Revenue

Churchill Downs Inc. said in a news release that its third-quarter net income fell 62 percent from the previous year to $3.5 million, or 20 cents per share, according to the report. Revenue for the quarter fell 6 percent, to … Continue reading

Out of Luck-ity: Churchill Pulling Plug on Online Bingo Site

Churchill Downs Inc. announced on Wednesday that after two years, it was ending operations for Luckity, its online bingo site. According to a report in the Louisville Courier-Journal, Churchill Downs filed paperwork with the Securities and Exchange Commission recently in … Continue reading

Australia: Group Formed To Combat Illegal Offshore Wagering

A new national working group will be established to tackle the increasing impact of illegal offshore wagering on Australian racing and sports. The new Illegal Offshore Wagering Working Group will be established under the Australian Government’s Gambling Industry Advisory Council … Continue reading

Months Later, Asmussen Not Letting PETA Accusations Keep Him Down

Trainer Steve Asmussen has emerged from the scandal surrounding an undercover investigation by PETA earlier this year as strong as ever. Daily Racing Form’s Jay Privman checked in with the trainer, who has notched 250 wins this year, placing him second … Continue reading

Churchill Downs Adding Premium Seating for Derby, Oaks Owners

Churchill Downs Racetrack plans to enhance the experience for owners that start horses in the Kentucky Derby Presented by Yum! Brands and the Longines Kentucky Oaks through a $4.2 million capital improvement project that includes the construction of 20 private, … Continue reading

Minnesota Racing Commission To Decide on 2015 Dates for Canterbury, Running Aces

The Minnesota Racing Commission has received 2015 live race day requests from Canterbury Park Holding Corporation and Running Aces Harness Park. Canterbury Park is requesting 70 days of live Thoroughbred and Quarter Horse racing from May 15 to September 12. … Continue reading

Veitch on Expanding Saratoga Meet: ‘More Is Not Better’

For many horsemen and racing fans, the Saratoga meet is the highlight of the racing calendar. An historic facility in an historic town…it just couldn’t get any better than that, right? The New York Racing Association has been considering expanding … Continue reading

CDI To Purchase 25 Percent of Saratoga Harness for $30.6 Million

Saratoga Harness Racing, Inc. (SHRI) and Churchill Downs Incorporated (CDI) (NASDAQ: CHDN) have signed a definitive purchase agreement wherein CDI will purchase a 25 percent membership interest in Saratoga Casino Holdings, LLC (SCH) for approximately $30.6 million, to be paid … Continue reading

Allred Postpones Super Derby Finals, Orders Hair Testing for Qualifiers

Dr. Edward Allred, owner of Los Alamitos race course in Southern California, has taken the extraordinary measure of postponing the finals of the estimated $1-million Quarter horse Super Derby from Nov. 1 to Nov. 15 because of suspicions over the … Continue reading

Beshear Urges Treasury to Clarify Tax Guidelines for Wagering

In a recent letter to the United States Treasury, Kentucky Governor Steve Beshear urged the federal government to clarify guidelines relating to the calculation of pari-mutuel winnings for tax purposes. The letter was shared with the National Thoroughbred Racing Association (NTRA) and … Continue reading