According to the Courier-Journal.com, Churchill Downs Inc is thinking outside the track when it comes to its online wagering potential. The 138-year-old race track that began the tradition of the Kentucky Derby recently received approval and tax incentives from the Kentucky Economic Development Finance Authority to add up to 50 employees as part of a $4 million expansion. The jobs would be contingent on state or federal government approval of online gambling.
Churchill Downs has offered legal online horse racing for a number of years though their TwinSpires.com site. Where the new employees will be located is a matter of debate at the moment, and Kentucky is providing as much as $1 million in state tax incentives for up to 10 years in order to keep them in state. The new employees could also either join team members in Mountain View, California, where the TwinSpires headquarters are located, or in Atlanta, where Churchill Downs other online gambling presence, Bluff Media, is housed. Churchill Downs acquired Bluff Media, an Atlanta-based online poker company, in February of 2012. The new employees are budgeted to make around $100,000 per year–roughly $81/hour.
Racing returns to the tracks on Friday, September 6, 2013.
For a long time, Sweden has a been a country that's been known for having policies geared towards keeping Internet access as open as possible. When the government tried to block access to The Pirate Bay, one of the most popular piracy sites in the world, courts rejected it because it wasn't allowed under Swedish law. Now we're facing a similar incident over unregulated online gambling sites.
The Basics of the Scenario
The Czech Republic does not currently license or regulate the online gambling industry in any meaningful way. That will probably change sooner rather than later because of a new report that has come out of the nation's capital of Prague that shows that virtually all sectors of the online gambling industry are expanding. This is especially true for the mobile casino sector, a part of the industry that's seeing major growth all over the world.
Churchill Downs, the race track and gambling company based in Louisville released its fourth quarter results today and showed that it is shifting away from horseracing and there online gambling site Is leading the way.Though results for the quarter were a net loss but it was sufficiently smaller than the same quarter year to date. Net earnings were down for the year by 3% and earnings from racing operations were flat for the year. The growth came from TwinSpires.