casinos

Pat Brown, the director of The Racing and Gaming Conference at Saratoga, knows what makes an agenda tick. He has seen his fair share of seemingly endless Power Points, glazed-over eyes and the attendees that surf the Internet in an attempt to multitask. The best way to combat the conference malaise? Just a healthy dose of fun. "I've spent over 40 years of in and out of government, thinking about and writing about the gaming and horse racing industry," said Brown, a former advisor to New York's Governor Mario Cuomo...

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...

While eager to see the return of live racing at Laurel, Maryland Thoroughbred Horsemen's Association President Tim Keefe knows that the belt-tightening may not end any time soon. Casino revenues account for a large portion of the purse money for the Maryland tracks and its likely that the state's casinos will be closed for several more months. "It certainly is a concern and something on our minds," Keefe said. "Nearly70% of our purse revenues are derived from the casinos. With them being closed down, obviously it is a big concern...