Youbet.com Hits Record Revenue
Youbet.com posted a 60 percent increase in fourth-quarter revenue for 2003, the interactive race betting provider announced last week.
The company recorded revenue of $5.1 million for the fourth quarter 2003, compared with revenue of $3.2 million in the same period in 2002. The company also saw a net loss of $1.15 million, or 4 cents a share, in the fourth quarter, versus a net loss of $1.4 million, or 6 cents a share, in the same span in 2002.
Washington State Contemplates Internet Betting
Washington horseplayers could bet by phone or over the Internet under a bill passed Tuesday by the state Senate.
The bill is aimed at helping the state's struggling racing industry, essentially by legalizing wagers now made illegally over the Internet. Neither tracks nor the state make any money from such bets.
"This is already happening," said Sen. Mike Hewitt, R-Walla Walla. "All we're trying to do is get our portion back."
The bill also would expand Emerald Downs' authorization to simulcast horse races from tracks in other states and allow two more off-track betting parlors in King County.
The bill passed 38-10 and now goes to the House.
HKJC Inks IT Deal with Micromuse
Micromuse Inc., a the leading provider of business and service assurance software, announced that The Hong Kong Jockey Club implemented the Netcool suite as a Manager of Managers to provide its operations teams with end-to-end visibility of its network infrastructure.
One of the leading providers of betting and entertainment, the HKJC has an enormous network infrastructure and offers bets on not just horseracing for Hong Kong punters. The firm also offers wagers on football games, or the lottery game through a personal digital assistant, by telephone, short message service, over the Internet, by two way messenger, or at off-course betting centers.
Micromuse's Netcool solutions provide The Hong Kong Jockey Club with the end-to-end visibility across its applications and network devices to effectively monitor the entire service delivery infrastructure.
Maryland Jockey Club Pulls Plug on TVG
It didn't take long for the Maryland Jockey Club to follow up on a judge's order allowing the racetrack owner to pull its signals from the Television Games Network.
U.S. District Judge William Nickerson ruled Friday that the Maryland Jockey Club could cease offering Laurel Park as a viewing and wagering option on TVG. The signal was pulled from the network by Sunday.
TVG has nearly 3,200 account holders in Maryland. Magna Entertainment Corp., a competitor to TVG in the race broadcasting space, is the majority owner of the Maryland Jockey Club and its own television network, HorseRacing TV.
Pimlico Race Course, which begins racing on March 31 and is the home of the Preakness Stakes, will also not be offered on TVG.
The withdrawal of the Laurel signal comes during the time of year that is most difficult for TVG, since Magna also owns the two major tracks that offer winter racing, Gulfstream Park and Santa Anita Park.
California Studying Reduced Handle
California racing leaders are facing a critical period as they attempt to find solutions to the dwindling handle that has spurred purse reductions at four race meetings in the last five months
Recent reductions at the Santa Anita Park and Golden Gate Fields meets followed cuts late last year at the Oak Tree at Santa Anita and Hollywood Park meets.
John Van de Kamp, president of the Thoroughbred Owners of California, said he has been puzzled by the declines, which followed a meet at Del Mar that was marked by record total handle. Del Mar was also the only major meet in the state last year with an increase in average field size.
The California Horse Racing Board's meeting scheduled for Thursday will include a report on efforts to address the handle declines at Santa Anita and Golden Gate. The board will also consider action on purse proposals for this year's Hollywood spring/summer meet.
New Zealand TBA Office Damaged in Storm
The office of the New Zealand Thoroughbred Breeders' Association at Ellerslie Racecourse sustained heavy damage Sunday evening when a 100-year-old oak tree fell on the building during the biggest storm to hit the country in years.
Employees escaped without injuries, and the building has since been evacuated. Damage is being assessed.
"Although the damage to the building is serious, we're all grateful that the timing of the tree's collapse meant no one was injured," Michael Martin, chief executive of the association, told New Zealand Daily Thoroughbred News.
Martin said the offices should reopen by the end of the week.
Man U Fans Could Cause Trouble at Cheltenham
Cheltenham racecourse officials expect to tell a group of Manchester United fans in the next few days whether they can stage a protest at next month's Festival meeting.
Cheltenham's managing director, Edward Gillespie, said Wednesday that talks had taken place with JP McManus, who owns over a quarter of United shares with John Magnier after the pair's success in racing.
The group, United4Action, want to stage a protest Thursday of the meeting--Tote Gold Cup day--against McManus' and Magnier's involvement at Old Trafford.