The National Thoroughbred Racing Association on April 27 approved the appointment of three new members to its Board of Directors.
Monthly Archives: April 2017
MGM Resorts net income nearly triples in Q1
Casino operator MGM Resorts started 2017 off on the right foot as profits nearly tripled thanks to a new resort and a greater share in an old one.
Figures released Thursday show MGM’s overall revenue rising 22% year-on-year to just over $2.7b in the three months ending March 31. Operating income jumped 57% to $497m and net income nearly tripled to $253m, leading CEO Jim Murren to celebrate the “strong start” to the year.
Revenue from MGM’s wholly owned domestic resorts was up 29% to $2.1b, although, if you exclude contributions from the new National Harbor casino in Maryland ($173m) and the 50% share of Atlantic City’s Borgata that MGM didn’t own in Q1 2016 ($100m), the domestic revenue rise was a more modest 6%.
MGM’s share of the CityCenter property in Las Vegas added $37.3m to Q1’s revenue pie, a notable improvement from the $9m loss in the same period last year, which was impacted by $31m in writedowns.
Santa Anita Officials Confident Future Cards Will Fill
With a pair of Santa Anita executives before them to discuss the recent race meets at the track, the CHRB commissioners did not directly broach the subject of the April 27 live racing card’s cancellation.
Dzmitry Urbanovich Becomes Newest Sponsored Member of Team Partypoker
Dzmitry Urbanovich, Poland’s #1 player with more than $5 million in live tournament cashes, is the newest member of Team partypoker. The internet poker site announced the sponsorship deal on […]
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California’s online poker prospectors find only fool’s gold
California’s once hopeful online poker prospectors continue to find nothing but fool’s gold in the Golden State.
Earlier this week, California Assemblyman Reggie Jones-Sawyer confirmed one of the industry’s worst-kept secrets: namely, that state legislators don’t intend to expend a whole lot of effort attempting to pass an online poker bill in 2017.
Jones-Sawyer, a longtime online poker proponent, also confirmed the not-so-secret cause of this lack of legislative interest, telling Online Poker Report that the state’s fractious online poker stakeholders – tribes, cardrooms, horseracing operators and poker technology providers – needed to get on the same page before taking another run at exasperated legislators with bigger fish to fry.
As ever, Amaya Gaming’s PokerStars brand remains the fly in this ointment, with some tribes and cardrooms advocating for (and partnering with) Stars, and other tribes insisting that they’re willing to stick with the status quo of no online poker if Stars’ participation is the price of admission.
Dreyer to Join NBC Kentucky Derby Coverage.
NBC News weather anchor and correspondent Dylan Dreyer will join NBC and NBCSN coverage of the 2017 Kentucky Derby as a lifestyle correspondent—her first assignment with NBC Sports Group.
Record Tiznow Colt Lives Up to Expectations
A Tiznow colt from Bobby Dodd’s consignment lit up the Ocala Breeders’ Sales auction ring April 27 when he was purchased by M.V. Magnier of Coolmore Stud for a record $2.45 million.
Editors Call for Added Visual Materials From Tracks
The meeting featured a panel discussion, moderated by TPA president Rhonda Norby, and a question-and-answer period involving five Kentucky-area journalists and media executives representing news organizations and industry publications.
Animal Kingdom's First N. Hemisphere Starter Wins Big
Sunny Skies, bred and raced by Nancy Polk’s Normandy Farm, won a 4 1/2-furlong maiden special weight at Keeneland by nine lengths. The filly is trained by Ken McPeek.
Tiznow Colt Brings $2.45 Million at OBS
A Tiznow colt out of the Distorted Humor mare Moonbow lit up the board during the third session of the Ocala Breeders’ Sales spring 2-year-olds in training sale when he sold to Coolmore’s M.V. Magnier for $2.45 million April 27.
Derby, Oaks Notes from Churchill Downs, April 27
Two-year-old champion Classic Empire and Florida Derby (Grade I) runner-up State of Honor could bring a lifelong dream to the Mark Casse barn in the $2 million Kentucky Derby Presented by Yum! Brands (GI) on Saturday, May 6.
Girvin Battling Quarter Crack, KY Derby Not Ruled Out
Brad Grady’s Twinspires.com Louisiana Derby (G2) winner Girvin is currently battling a quarter crack in his right front foot but his connections are still hopeful the son of Tale of Ekati can run in the May 6 Kentucky Derby (G1).
Brian Rast Reflects on Inaugural Bellagio $25K Mixed Game High Roller: CardsChat Exclusive Interview
Earlier this year, Daniel Negreanu came up with the idea of hosting $25,000 Mixed Game High Roller events. Brian Rast took the ball and ran with it by contacting Bellagio, […]
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Pletcher Considering Royal Ascot for American Patriot
Todd Pletcher told officials at Ascot Racecourse that he is seriously considering the Queen Anne Stakes (G1) at Royal Ascot for American Patriot. The straight mile contest on turf is scheduled for June 20.
SportPesa new La Liga betting partner, illegal Chinese slots foe
Kenyan sports betting operator SportPesa has signed a betting partnership with Spain’s premier football division La Liga.
On Wednesday, SportPesa announced that it had been designated the Official African Betting Partner of La Liga. While the parties have agreed to work together for the next three years, financial details of the deal weren’t disclosed.
SportPesa CEO Ronald Karauri said the deal would boost La Liga’s visibility in Kenya while furthering SportPesa’s “objective of developing sport in Africa by bringing in the invaluable professional experience of one of the top leagues in Europe.”
La Liga marketing director Adolfo Bara said the deal “solidifies La Liga’s commitment to the African continent” and claimed that SportPesa “shares the same vision” of helping La Liga get closer to its fans all over the world.
Paradise Woods Records Final Work for Kentucky Oaks
Richard Mandella has a certain giddiness about him when one of his good horses is going well. Not so long ago, after Beholder’s morning breezes, he had a frequent pep to his step. On April 27 in the Santa Anita grandstand, the excitement was back.
Why California’s version of BitLicense needs to be opposed—again
California’s version of BitLicense is poised to make a return in the state Legislature under a new proposal, Assembly 1123.
Introduced by Assembly Member Matt Dababneh, AB 1123 seeks to thwart—again—the use of digital currencies like bitcoin in the state. Dababneh, if you recall, was responsible for introducing the California Bitcoin License bill (AB 1326) in 2015, which sought to have virtual currency companies regulated just like banks.
Had it passed in the legislature, AB 1326 would have required bitcoin businesses in California to acquire a license, one that is renewable every year, from the Department of Business Oversight. Lawmakers, however, sent the bill back to the Rules Committee and Banking and Finance Committee, where it underwent “significant change.”
Now Dababneh is back, and armed with AB 1123—which, essentially, is an improved version of AB 1326. Based on its wordings, AB 1123 has the potential to reduce California’s capability of supporting the virtual currency start-ups in the state.
Prague conference to discuss blockchain impact on labor market
On May 19, Prague will host the largest conference in the Eastern Europe, dedicated to cryptocurrencies and blockchain technologies – Blockchain & Bitcoin Conference Prague. One of its topics will be optimization of labor market with the help of blockchain.
The topic will be covered by Jonathan Chester (USA), the founder and president of the international service BitWage, and author of Fintech articles in Forbes.
When a significant part of work is carried out remotely, and startups refuse from renting an office, employer and employees need a single platform for interaction. The two main challenges occur: mutual credibility and wage transferring (especially in the context of international translation).
According to Jonathan Chester, international payments constitute a slow, complicated and costly process. Various fees and conversions on average take around 8% of the whole sum. At the same time, blockchain can cut costs greatly and simplify the job search process for jobseekers.
Betsson profit hit by regulated market tax, punter-friendly footie
Nordic online betting operator Betsson AB’s casino vertical bailed out its Q1 results after punters gave the company’s sportsbook a right pounding.
Figures released Thursday show Betsson’s revenue rising 10.2% year-on-year to SEK 1.1b (US $124.3m) in the three months ending March 31. But earnings fell 4% to SEK 241m and net income slipped 8% to SEK 214.4m thanks to unfavorable sporting results, negative currency fluctuations and increased betting duties in Betsson’s regulated market operations.
Betsson’s sportsbook was dealt a bad hand in Q1, as betting turnover fell 11% while a rash of punter-friendly football results pushed betting revenue down 15% to SEK 250.3m.
Fortunately, Betsson’s casino vertical – which accounted for three-quarters of the overall revenue pie – had a stellar Q1, with revenue jumping 23% to SEK 823m. The gains were driven by 65% growth in mobile casino activity. Betsson’s casino boasted 1,902 games at the end of Q1, of which 1,446 are available via mobile.
ABR Interview with Jockey Brian Hernandez Jr.
Tom Pedulla is interviewing prominent racing personalities for America’s Best Racing as they travel the Road to the Kentucky Derby. The opening leg of the Triple Crown will be run on May 6 at Churchill Downs.