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Kentucky Racetracks Need Gambling To Survive

Six of the state of Kentucky's racetracks showed an unprecedented united front this week at a joint press conference focused on the precarious state of racing in the heartland of US horseracing and to appeal for the legalisation of slot machines.
 
Kentucky's state government infamously - and unsuccessfully - tried to highjack international Internet gambling domain names last year in moves to protect its extensive land gambling industry interests. Aladdins Gold Online Casino - All USA Players Welcome
 
The Racing Post reports that eleven of the 12 racing states nearest to Kentucky allow other gaming at their racetracks, resulting in bigger and more competitive purses and more generous breeders' prizes.
 
And apparently Kentucky, which describes itself as the horse capital of the world, is struggling to compete.
 
At the press conference this week, Nick Nicholson, Keeneland's chief executive, said: "We are in serious jeopardy and, if no action takes place and we lose our racing circuit and the prominence of our breeding industry, we do not want anyone to be surprised."
 
Churchill Downs chief executive Bob Evans pointed out that, normally, on a Wednesday, there would be racing but a shortage of runners had led to the scrapping of Wednesday fixtures. Evans warned: "If you think it is bad now, it is only going to get worse. As time goes on, slot subsidised purses are going to pull more horsemen out of Kentucky.
 
"We can't wait any longer," he added. "Even after legislation is passed it will take time to get slots operating; meanwhile the barn door has been left open and we are finding our horses in other states."
 
The Racing Post report goes on to detail the adverse impact which additional gambling at neighbouring state racetracks is having on Kentucky, with Kentucky racing execs underlining the dangers that this represents.
 
Bob Elliston, chief executive of Turfway Park, said: "In the ten years I have been at Turfway Park we have invested over $10 million and we've lost money every year.
 
"There was a time when, day in, day out, we had strong field sizes. That is no longer the case. At our spring meet we were unable to fill races on multiple occasions.
 
"The reason is the opportunities for horsemen to earn more money at Presque Isle Downs (a racino in Pennsylvania that opened in 2007) that, overnight, offered $30 million in purses, and at Indiana Downs and Hoosier Park.
 
"Thirteen of the top 15 trainers at Indiana Downs are based in Kentucky, but they are now racing outside Kentucky. Between now and September we will have to sit down with the horsemen and look at dramatic purse cuts and look at reduced days."
 
Joe Costa, chief executive of The Red Mile, a harness racing track, described a situation of "absolute devastation," and Corey Johnson, president of Kentucky Downs, an exclusively turf track, explained that they had been forced to reduce their live racing programme from six days to four.
 
Rick Hiles, speaking on behalf of owners and trainers, warned:"If we lose two or three of our tracks it will affect Churchill Downs enormously. Without year-round racing in Kentucky, horsemen will not stay here. I already know of big owners talking of relocating. Mares are already leaving for states with big breeding incentives."
 
The businessmen urged the state government to legalise the operation of slot machines at Kentucky's racetracks to boost revenues and enable the state to again become competitive in its horserace prizes and events.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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