gaming

Bill Carstanjen, the chief executive officer of Churchill Downs, Inc. (CDI), said during a quarterly conference call with investors Feb. 24 that after only a brief foray into online sports betting, the gaming corporation plans to phase out operating in that sector by mid-2022. "When the U.S. Supreme Court overturned the federal ban on sports betting in May of 2018, we had high hopes for the potential to build a profitable business in this space," Carstanjen said. "Our initial strategy was to leverage a variable cost technology model and be...

Michael Beychok has been one of the most visible horseplayers in the sport for a while. He's a winner of the National Handicapping Championship, a horseplayer advocate and a public handicapper for the New Orleans Times-Picayune who has spent the better part of his life betting on the horses. Just not for much longer. Beychok, who is the leading figure in a class-action lawsuit filed by gamblers who say they would have made money on the 2021 GI Kentucky Derby had it not been won by Medina Spirit (Protonico), says...

The gaming corporation that owns Churchill Downs Racetrack is abandoning plans to build a $300 million hotel and historical horse race (HHR) gaming facility on the first turn of the track. Instead, Churchill Downs Inc. (CDI) will focus on a three-phase expansion of its Louisville-area properties, with expected completion dates for each project dovetailing with the runnings of the next three GI Kentucky Derbies. Bill Carstanjen, CDI's chief executive officer, said during a Thursday earnings conference call that he was not at liberty to divulge details about the new projects...

The bill to legalize historical horse race (HHR) gaming in Kentucky by defining "pari-mutuel wagering" to include previously run races passed in the House of Representatives by a 55-38 vote shortly after 8 p.m. Thursday, with seven legislators not casting votes. Capping an emotional and contentious—but always civil—floor debate that stretched over three hours Feb. 11, the most controversial bill of the 2021 Kentucky legislative session now heads to Governor Andy Beshear, who has previously indicated support for keeping HHR intact in Kentucky. The passage of SB 120 this week...

A Kentucky State Senator whose district includes Turfway Park said Thursday that he intends to file legislation and hold a hearing next week to make historical horse race (HHR) gaming legal, "maintaining the status quo" for the revenue flow that annually contributes tens of millions of dollars to purses in the state. "Next week, I will file legislation to keep historical horse racing operational in Kentucky," Senator John Schickel (R-Union) stated in a Jan. 28 press release first published by WTVQ.com. "The bill, which I am pleased to say will...

The Nebraska horse racing industry, which has struggled for years to offer competitive purses, got a major boost Tuesday when voters overwhelmingly approved three constitutional amendments that legalize casinos at the state's racetracks. In other gambling related matters on the ballot across the country Tuesday, Marylanders voted in favor of legalizing sports betting in the state and voters in South Dakota approved sports betting, which would be restricted to the town of Deadwood, which already has a casino. In Louisiana, 55 of 64 parishes approved sports betting, including the four...

The Oaklawn Park casino has been given the green light by Arkansas Governor Asa Hutchinson to resume operations May 18. During his press briefing May 7, Hutchinson announced that the state's three casinos can reopen, but only at one-third capacity and that stringent social distancing requirements will be in place. Oaklawn's casino has been closed since Mar. 16 and the shutdown had started to affect purses. Under the worst-case scenario, the casino would be closed for an extended period of time and purses would have to be reduced at the...

Much has been said and written about racing's opportunity during the coronavirus pandemic to capture wagering dollars typically directed towards sports betting or spent in casinos, and I'm happy to report that two of my closest friends have done their part in contributing to handle over the past month or so. Neither are complete rookies, but they don't regularly bet races. We actually started betting horses at the same time--early in our college careers, but they never got hooked on the sport like I did. They've been to Saratoga, will...

Purse contract negotiations between the Illinois Thoroughbred Horsemen's Association (ITHA) and Arlington Park remain deadlocked three weeks after missing a state-mandated deadline to have one in place for the 2020 meet. Despite the issue taking center stage with 90 minutes of testy back-and-forth debate at Tuesday's Illinois Racing Board (IRB) meeting, the two sides appear no closer to bridging the gap, which chiefly hinges on a daily average purse figure of $130,000 versus $200,000 for the 68-date, May-through-September meet. IRB chairman Jeffrey Brincat did underscore on Tuesday that the horsemen...