Horse racing Archives - Page 4 of 5

Churchill Downs revenue hits record $364.1m in Q1

Churchill Downs Incorporated (CDI) has opened 2021 with a record-breaking performance over the three months to 31 March.

Group revenue for the first quarter of 2022 increased 12.3% year-on-year to $364.1m (£290.4m/€345.9m), a new record for the business.

Gaming was the top performer over Q1 with revenue of $179.2m, up 16.4% year-on-year, aided by capacity restrictions at its Oxford Casino Hotel in Maine, Flordia’s Calder Casino and Presque Isle in Pennsylvania.

The gaming division is set to expand further through the acquisition of Peninsula Pacific Entertainment, which adds properties in New York, Virginia and Iowa to CDI’s portfolio.

The operator’s advance deposit wagering business Twinspires followed with revenue of $101.4m, down marginally year-on-year, after a decline in horse racing revenue was partially offset by growth from its sport and casino business. That operation is being wound down, however.

CDI’s live and historical horse racing business reported a 34.8% jump in r..

April 27, 2022

ATG revenue stable in Q1 as casino helps offset racing decline

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Net profit for Aktiebolaget Trav och Galopp (ATG) declined slightly in Q1 of 2022, which the business said was mostly due to a greater focus on higher-cost verticals of non-racing sports and gaming.

Net gaming revenue was exactly stable year-on-year, at SEK1.27bn (£102.6m/€121.9m/$128.9m).

Almost all of this net gaming revenue, at SEK1.06bn, came from online operations, up by 3.5%.

Retail revenue, on the other hand, was down 14.7% to SEK208m.

Looking at net gaming revenue by product type instead, horse racing brought in SEK970m, down 7.4%.

“Despite the decline, the figure is historically high,” ATG chief executive Hasse Lord Skarplöth said.

Sports betting revenue was up 27.3% to SEK177m and casino revenue grew 47.6% to SEK121m.

“We continue to gain market share in Sweden and consolidate our position in sports betting,” Skarplöth said.

Explaining the rapid increase in casino revenue, Skarplöth said that a key factor was the removal of Sweden’s SEK5,000 deposit cap for online ca..

April 11, 2022

RMG welcomes Fakenham Racecourse to media rights group

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Horse racing media rights-holder Racecourse Media Group (RMG) has announced Fakenham Racecourse as its latest member.

RMG will work with the Norfolk racecourse on the commercialisation and development of its licensed betting shop, streaming, pay-TV and international rights from May 1 this year through to December 31, 2028.

Fakenham Racecourse will also become a shareholder in RMG, which is 100% owned by racecourses and pays all of its profits to its racecourse shareholders. The venue hosts 12 fixtures throughout the year.

“We are excited to be joining RMG and to be in partnership with many other like-minded small independent racecourses, alongside the larger independents and Jockey Club Racecourses,” Fakenham chief executive and clerk of the course, David Hunter, said.

“We have an excellent relationship with The Racing Partnership, At The Races and Sky Sports Racing which goes back many years and we are very grateful to the many successful years we have partnered with them.

“Howe..

March 31, 2022

Division sales boost downsized Sportech to profitability in 2021

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Sportech recorded revenue of £22.9m in 2021, a year in which it sold off many business divisions, with these sales powering the business to a £34.5m profit.

All of Sportech’s revenue, expense and income figures for 2021 and its comparison figures for 2020 removed parts of the business which were sold, before counting these as discontinued operations. These included the Global Tote business, which was acquired by Betmakers in June 2021, and Bump 50:50, which Sportech agreed to sell to Canadian Banknote in February 2021.

This downsizing led to Sportech removing its shares from the London Stock Exchange and moving to the Alternative Investment Market, after which CEO Richard McGuire and chief financial officer Tom Hearne stepped down from their roles.

As a result, the revenue figure of £22.9m was up 32.1% from the restated figure given for 2020.

Sportech chief executive Andrew Lindley said that while the business was now small for a publicly traded company, he believed it was the righ..

March 29, 2022

PMU enters Senegal with National Lottery deal

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French horse racing operator Pari Mutuel Urbain (PMU) has entered Senegal through a partnership with the country’s National Lottery (Lonase).

The omni-channel partnership will allow customers to place bets on horse races offered through PMU, with the same payouts as PMU customers receive in France.

PMU’s betting platform in Senegal will be powered by online sportsbook and technology provider Honoré Gaming, which PMU has extended its existing partnership with.

Honoré Gaming allows operators to target French-speaking countries in Africa through its sportsbook solutions.

“We are delighted to be extending our existing partnership with PMU to facilitate its agreement with Lonase and to allow bettors in Senegal to wager on the same races and with the same payouts as PMU’s players in France,” said Christophe Casavova, chief operating officer at Honoré Gaming.
“Africa is one of the fastest-growing online betting markets in the world and we have helped operators enter French-speaking market..

March 25, 2022

Racing Victoria selects Jones as next CEO

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Racing Victoria has named sporting industry veteran Andrew Jones as its new chief executive, starting on 11 July.

Jones (pictured) is currently the interim chief executive of Netball New South Wales. He has also served as chief executive of Cricket New South Wales from 2013 to 2019 and interim chief executive of news site Racing.com.

Before this, he was general manager of strategy at Cricket Australia from 2010 to 2012, overseeing the launch of the Big Bash League in this role.

ANDREW JONES

“The Board is delighted to appoint Andrew Jones to the position of chief executive and we look forward to his commencement later this year,” Racing Victoria chairman Brian Kruger said.

Jones has also led strategy consultancy The Killer Group. In this role, he worked with Racing Victoria, helping to set up the Victorian Thoroughbred Racing Integrated Media Business (VTRIMB).

“Andrew will join Racing Victoria with a wealth of business, strategy and sports administration experience coupled with ..

March 24, 2022

Tab NZ reports turnover decrease in February

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Tab NZ has reported betting turnover of NZ$184.9m (£97.3m/€116.9m) for February, down 23.3% from the previous month.

This was also a decrease year-on-year of 1.2% and 2.3% below budget for the month.

Gross betting revenue was NZ$30.1m, a decrease of 24.7% from January but a rise of 1.1% year-on-year.

Profit for February was NZ$11.3m, down 36.5% month-on-month but up 9.7% from February 2021. This was NZ$200,000 less than the budget for the month.

Betting profit made up NZ$10.1m of the total profit, NZ$400,000 over budget, while gaming profit brought up the remaining NZ$1.2m, coming in NZ$600,000 under budget.

Profit for the year to date totaled at NZ$96.9m, down 7.5% year-on-year and NZ$800,000 under budget.

Operating expenses for the month fell by $900,000 compared to January, to NZ$9m, and fell by NZ$600,000 year-on-year.

The most successful day for horseracing turnover for the month was at the Herbie Dyke Stakes at the Te Rapa venue on 12 February, which generated NZ$538,000.
..

March 16, 2022

STS adds horse racing to UK site

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Poland-based operator STS has announced its expansion into the horse racing vertical in the UK.

The operator has announced its expansion into horseracing on the week of Cheltenham Festival. STS’s portfolio of services already includes sports betting, virtual sports, online casino and esports betting.

It will be increasing its offering across a range of horse and greyhound racing content in the UK, providing live streaming from international and domestic racecourses throughout the year. Customers will also be able to watch the races and bet via mobile devices.

STS will receive risk-managed odds, data and live-streamed video, all provided by At the Races (ATR) Markets.

“We are going to work with ATR Markets over the coming months to enhance the product further by adding additional features plus adding to the available content, including international racing from other territories” said STSBet managing director, Filip Sosnowski.

“We will offer regular horse racing promotions, special..

March 11, 2022

ATG and Swedish Equestrian Federation extend 50-year partnership

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Swedish operator AB Trav och Galopp (ATG) has extended its sponsorship agreement with the Swedish Equestrian Federation, continuing to build on a partnership that will now extend past 50 years.

The partnership has been extended for a further four years, and will continue to focus on para-dressage, equestrian development and ATG’s jumping series, the ATG Riders League.

“We want to be involved in developing Swedish equestrian sports, and together with the Swedish Equestrian Federation we have found a good way forward,” said Maria Guggenberger, sustainability manager at ATG. “Therefore, we will continue to focus on para-dressage and equestrian development through ATG Talang.”

“We have also ensured a continuation of the national jumping series ATG Riders League for the next four years.”

Camilla Sand, communications and marketing manager at the Swedish Equestrian Federation, praised the longevity of the partnership.

“The long collaboration with ATG is something we are incredibly proud ..

March 9, 2022

Annamarie Phelps steps down as BHA chair

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Annamarie Phelps CBE, the chair of the British Horseracing Authority (BHA), has announced she will be stepping down when her term ends.

After a career in British rowing including an appearance at the Olympic Games, Phelps took on the role in June 2019 after working for a variety of governing bodies within the industry. The announcement comes on the eve of Cheltenham Festival.

Phelps said: “It has been a great privilege to lead the BHA during this challenging period for the sports sector, and to have recruited a fantastic CEO in Julie Harrington. I am immensely proud of what racing has achieved collectively in this time.”

She added that she was proud of the organisation for the way it handled a number of major challenges, including the COvid-19 pandemic, while she was chair.

“I want to thank the amazing BHA team for navigating the pandemic and for keeping the show on the road behind the scenes, a role that is rarely acknowledged,” she said. “It is a remarkable achievement that no fi..

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