Archive for April, 2010

Historic Hermitage Farm to be sold

Laura Lee Brown and Steve Wilson announced an agreement to purchase Hermitage Farm in Goshen, Kentucky, from Carl Pollard.

Located on 700 acres about 20 miles northeast of Louisville, Hermitage is one of the top Thoroughbred farms outside of Lexington.

During its 75 years, Hermitage’s residents have included more than 200 stakes winners, including 1953 Kentucky Derby winner Dark Star, ’83 English Two Thousand Guineas (Eng-G1) winner Lomond, and leading broodmare sire and Ireland’s champion two-year-old of ’85 Woodman.

Pollard, chairman of the board of Churchill Downs Inc. since 2001, bought Hermitage in 1995 from the family of Warner Jones, who bought the centuries-old farm in 1935.

The deal is expected to close by the end of May, and it contains a lease agreement that will allow Pollard and his Thoroughbred operation to remain there through 2013.

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New track presidents at Calder, Fair Grounds

Churchill Downs Inc. will have new presidents at half of its tracks following a host of leadership changes announced on Tuesday.

Tim Bryant, who boasts 15 years of gaming industry experience, most recently at Harrah’s New Orleans, will serve as the new president of Fair Grounds. The current Fair Grounds president, Austin Miller, will take on that role at Calder Race Course.

The Louisville-based racetrack owner said Calder President Tom O’Donnell will leave the company now that the construction of casino and poker facilities has been completed. CDI said O’Donnell was expected to serve as president only until the construction’s completion.

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Groups call for resignation of NYC OTB chairman

Two Thoroughbred groups say New York City Off Track Betting Corp. Chairman Sandy Frucher should resign and are calling for an investigation by the state attorney general following OTB’s decision to remain open after a threatened shutdown.

Frucher says that by cutting costs and delaying statutory payments to racetracks and breeders the firm can stay afloat another year until a permanent solution to its fiscal problems is found.

“They (OTB) have been warning Albany that they are going to have to close their doors unless they stop paying the Thoroughbred industry its fair share of the receipts, only to magically find the dollars needed to keep operating when the (state) legislature refuses to cave to their demands,” said Rick Violette, New York Thoroughbred Horsemen’s Association president. “It warrants the attention of the New York state attorney general (Andrew Cuomo) because the stench from the New York City OTB can be detected from the furthest stable.”

New York Thoroughbred Breeders Inc. Executive Director Jeff Cannizzo said, “Mr. Frucher has sought to hijack a process that was meant to save New York City OTB and Thoroughbred racing in New York.”

Both groups say OTB should be closed, restructured, and that the state should act quickly to site a racino at Aqueduct.

New York Racing Association declined comment on OTB’s plan to stay open, which includes eliminating hundreds of jobs and closing two-thirds of its 60-plus betting shops.

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Officials: Compact Comes at Critical Point

Uniform regulation through the proposed National Racing Compact got a major push from industry participants April 13 amid “serious” funding deficiencies for regulatory agencies and word at least one member of Congress is exploring creation of a commission to oversee some aspects of Thoroughbred racing.

The NRC has been endorsed by the Association of Racing Commissioners International, which is holding its annual meeting in Lexington. The full RCI board of directors is expected to address the interstate racing compact again during its meeting April 14.

RCI president Ed Martin, in comments made April 13, said state regulators, usually the ones blasted for inaction, support the NRC, which requires legislative action in six states to launch.

“We have long-standing problems, many of which have been discussed here,” Martin said. “The under-funding of state regulatory commissions is a serious problem this industry faces. The compact is a long-term option for the industry that needs to be advanced now. You have this opportunity because of the dire finances of state budgets.”

Various groups, including the National Thoroughbred Racing Association and Jockey Club, have been preparing a business plan for the compact. Other groups have offered input, but haven’t necessarily endorsed it.

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Bill for New Track Passed in Nebraska

Nebraska lawmakers  plan to help build a new horse track in Lincoln.

On April 8, they amended a bill to let the horse industry use a so-called turn back tax plan to help build a track in Lincoln that could cost upward of $20 million.

It was attached to a bill that would allow sales tax revenue generated near arenas to be used to help finance their construction. The bill targeted at smaller, indoor arenas got second-round approval.

One project that would immediately qualify is a proposed ice rink and concert arena in Ralston.

Horse-racing supporters say a new Lincoln track could help save the industry in Nebraska. Other plans to help horse racing have died this year in the legislature.

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New York OTBs Will Stay Open Another Week

The Board of Directors of the New York City Off-Track Betting Corp. (NYC OTB) announced April 9 a temporary suspension of its planned layoffs of the organization’s more than 1,300 employees, which was set to take effect April 11.

The decision to suspend the planned layoffs for no more than one week comes as negotiations continue over a plan that would enable NYCOTB to continue operations.

“We fully recognize the devastating impact that the first day of closure will have, not only on our employees, but on the racing industry and thousands of other jobs throughout New York,” said NYCOTB president Raymond Casey in a release. “Although an agreement has still not materialized, we made the decision to suspend layoffs by no more than one week with the hope that those extra days will provide the necessary time to arrive at one.”

On March 26, NYCOTB issued 14-day termination notices to all of its employees.

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Turf Race, 2-Year-Olds Return to Golden Gate

The resumption of turf racing and the first 2-year-old event of the season make for an interesting racing program at Golden Gate Fields April 8. 

The last turf race at Golden Gate Fields was contested Jan. 10 and the Lakeside Course has since been restored to perfection. Eight older horses will get the first crack at the lush new grass when they compete in the fourth race, a one-mile event for 4-year-olds and up. Lockford, a 7-year-old gelding who is 3-for-5 on the local lawn, is among the entrants.

Eight 2-year-olds will match strides in the fifth race, a two-furlong dash down the stretch. Trainer Jeff Bonde, who is known for his success with youngsters, will start La Cha Cha in the maiden allowance contest.

Post time is 12:45 p.m.

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Youbet.com Shareholders OK Merger With CDI

Youbet.com shareholders voted to approve a merger agreement with Churchill Downs Inc., the company announced April 6.

The merger is still subject to various regulatory approvals and other conditions before it closes. CDI and Youbet.com officials have said they expect the deal to close in the second quarter of 2010.

According to a Youbet.com release, 98.4% of shareholders voted in favor of the merger agreement. They represent 68.3% of total outstanding shares in Youbet.com as of Feb. 17.

Under the terms of the transaction, Youbet.com shareholders would receive 0.0598 of a share of CDI common stock and $0.97 in cash for each share of Youbet.com common stock they own.

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Connections cool off after Santa Anita Derby

The aftermath of the Santa Anita Derby (G1) on Saturday made for good drama on NBC’s “Road to the Kentucky Derby” program, but “Law & Order” appears to be safe in its time slot as cooler heads prevailed the day after the rough classic prep race.

Racing Hall of Fame trainer Bob Baffert was not pleased with two-time Eclipse Award-winning jockey Garrett Gomez’s ride on champion Lookin At Lucky, who was reserved early and checked in tight quarters along the rail on the far turn in a third-place finish behind winner Sidney’s Candy

Gomez was frustrated with jockey Victor Espinoza, the regular rider of Baffert’s 2002 dual classic winner War Emblem, who angled Who’s Up toward the rail and cut off Lookin At Lucky. Gomez landed at least one punch to Espinoza weighing in after the race, and Baffert’s wife, Jill, was seen having a heated exchange with Espinoza outside the jockeys’ room.

Espinoza, who was suspended three days beginning April 11 for his ride aboard ninth-place finisher Who’s Up in the Santa Anita Derby, said apologies were exchanged Saturday night. Gomez was fined $750 for the altercation. Bob Baffert said Gomez will retain the mount on Lookin At Lucky in the Kentucky Derby Presented by Yum! Brands (G1) on May 1.

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Aqueduct will stay open for training

The New York Racing Association has shelved a cost-cutting plan to eliminate training at Aqueduct but will take drastic steps to stay open through the Belmont Park and Saratoga Race Course meetings.

Previously, NYRA said it could save $300,000 per month by shutting down Aqueduct training when racing shifts to Belmont in late April. Plans called for moving about 400 horses from Aqueduct to Belmont, Saratoga and perhaps some out-of-state tracks.

NYRA is faced with a major cash-flow problem resulting from three main problems: the declines in the economy and wagering, the state’s inability to open a racino at Aqueduct, and New York City Off-Track Betting Corp.’s bankruptcy.

Many industry leaders are concerned NYRA might not be able to stay open this spring and summer.

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