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Kentucky lawmakers approved legislation March 13 that would restore the ability of horseplayers to claim losses against any gambling winnings they claim. The legislation will go to Gov. Matt Bevin (Republican) for his consideration. Legislation approved for tax year 2018 ended the ability of Kentucky taxpayers to deduct gambling losses from reported gambling winnings, an issue first brought to light by BloodHorse.com. The change negatively impacted horseplayers by significantly increasing the amount of money they would have to list as income.
Ron Winchell and Marc Falcone officially are the new owners and managing partners in Kentucky Downs, finalizing the purchase of the racetrack and year-round entertainment center from the investment group that purchased the facility in 2007. Winchell and Falcone bought Kentucky Downs' assets through their new company, Kentucky Racing Acquisition LLC. Terms of the sale were not disclosed.
Anne Archer is part of the next generation of Hinkle horsepeople proving the future is bright for Hinkle Farms. Attending New York University and completing her education at Centre College, Anne Archer earned a bachelor's degree with a double major in History and Spanish. She specializes in bloodstock research, acquisition, stallion matings, and sales coordination. She loves nothing more than spending time with the many beautiful thoroughbreds on the farm.
Santa Anita Park has canceled four stakes and rescheduled several others as track officials work to reopen the main track and return to racing. Barring further weather setbacks, track management has tentatively set March 22 as the first race day. The main track is scheduled to open for jogging and galloping March 11, with works allowed on the training track that day. Santa Anita management hopes to reopen the main track for works later in the week.
The New York Racing Association is not saying whether it will shift its early fall racing meet from Belmont Park to Aqueduct Racetrack, but its 2019 budget is making plans for the possibility of such a switch. NYRA officials told the New York State Franchise Oversight Board this week that they envision the racing corporation's handle dropping 3% in 2019, in part because of "uncertainty" over a mega-development project due to begin construction sometime this year.
A native of Kilkenny, Ireland, Pat came to Kentucky in 1984 to pursue his love of horses. Starting at Ashleigh Stud, he moved to the new Rood and Riddle, where he received agreat foundation training for 18 months. This led to the job of developing and managing Crescent Hill Farm for 10 years for the Slitz family, from where it was then time to branch out on his own. He started Drumkenny Farm in 1996, which was a 200 acre full service boarding operation. It was during this time that he became a member of various pinhooking partnerships, which not only led to introducing many friends to life as thoroughbred owners, but further revealed his love of the sales business. In 2001, Pat was a founding member of Paramount Sales, and he quickly realized that it would be impossible to fully commit to both jobs, so he decided to step away from the farm and concentrate on bloodstock sales. Since its inception, Paramount has been a top 10 leading consignor. Missing country life, Pat moved to 30 acres in 2013, where he breeds a small band of mares, and pinhooks weanlings with several partners. He and his wife, Lynne, have a daughter, Ali, who is an Athletic Trainer at Florida Atlantic University, and a son, David, who is a senior in high school. Pat loves this industry, and still believes that Kentucky is the center of the thoroughbred world. He is excited to be a part of the KTA, and hopes to be able to help promote Kentucky breeders and horses worldwide.
A change in state tax law in Kentucky for 2018 that removed the ability to deduct gambling losses from any gambling winnings income moved a step toward being changed back to the previous standard March 1. A clean-up bill that Senate Appropriations and Revenue Committee chairman Christian McDaniel (R-Taylor Mill) said aims to address unintended consequences of the state's tax law changes approved for the 2018 tax year reinstated the ability of filers with gambling winnings to claim gambling losses up to the amount of those winnings.
Track-record high first condition book purses that represent a whopping 46% increase over last year will greet horsemen when the Churchill Downs spring meet opens Apr. 27. The wave of the future has been bolstered by a blast from the past, as a top Churchill Downs Inc. (CDI) official explained on Thursday that the purse windfall has been created by a better-than-expected surge in wagering on historical horse race betting machines at the corporation’s nearby Derby City Gaming venue that opened last September.
The Kentucky Senate majority leader said Tuesday he expects lawmakers will correct an "unintended consequence" of last year's tax bill that led to the state taxing gross gambling winnings. Damon Thayer, a Georgetown Republican, said he just learned over the weekend that part of last year's bill changed tax law so that Kentucky would no longer allow gambling losses to be deducted from gambling winnings reported as taxable income.
Darren Fox is a native of Co. Roscommon, Ireland. Darren graduated of the University of Limerick with a Degree in Equine Science and a Masters in Entrepreneurship. Early hands on experience was gained at Ballyhane Stud and Rathbarry Stud in Ireland and Knockgriffin Farm in the US. Darren worked for GE Capital and Tote Ireland prior to graduating from the Darley Flying Start in 2009. Since then Darren has focused on the area of stallion seasons. He is currently the Sales Manager at Darley, where he manages top stallions such as Medaglia d’Oro, Bernardini and newcomers such as Nyquist and Frosted. He also spent two years as the Stallion Seasons Director at WinStar Farm, prior to his current role at Darley.
The Kentucky Horse Racing Commission today announced payment of more than $14.2 million in breeder awards from the Kentucky Thoroughbred Breeders' Incentive Fund. Kentucky-bred horses won over 4,000 races across the globe in 2018, which made breeders eligible for these incentive payments. KTBIF horses won in 33 states and four countries - including the Kentucky Derby.
The Kentucky Horse Racing Commission has approved noted horseman and entrepreneur Ron Winchell and prominent gaming executive Marc Falcone as majority owners of Kentucky Downs. It was announced in mid-November that Kentucky Racing Acquisition, LLC, a new company co-founded by Winchell and Falcone, had agreed to purchase all the assets of Kentucky Downs from parent company Kentucky Downs Partners, LLC, the investment group that has owned the racetrack since 2007.
The Kentucky Horse Racing Commission has approved $147,000 from the Kentucky Equine Drug Research Council fund for a two-year study that aims to develop an affordable test to detect horses that have been given small levels—microdoses—of erythropoietin.
On the heels of an equine influenza outbreak that shut down racing in Great Britain for eight days earlier this month, a handful of show horses have come down with the same virus in Ohio and Indiana. Because the infected horses in the U.K. had raced at two different tracks and had come in contact with several horses that were stabled throughout the country, British racing officials felt it necessary to shut down racing until the situation was under control.
Like many, he was lured into the horse business by his father Howard Litt, an avid owner, breeder and race fan of over fifty years. Litt received his B.A. from UC Berkeley in Human Biodynamics and my M.S. from Wake Forest University in Exercise Physiology and Cardiac Rehabilitation before embarking on his career in the horse business. He moved to Kentucky in 2000 and worked at Taylor Made farm for a year, working with mares, yearling, foals at major auctions. Litt worked the next two years with the veterinary practice of Dr. Cheney, Dr. Northrop and Dr. Landry in Kentucky, New York and Florida and was around the top trainers and horses in the east coast. He then spent seven years with Three Chimneys farm performing all duties of a bloodstock agent as well as, stallion syndication, portfolio management and client recruitment.
A bill that would legalize wagering on sporting events and earmark tax revenue to Kentucky’s underfunded pension system received a hearing at a legislative committee meeting in Frankfort Wednesday morning. House Bill 175, sponsored by Rep. Adam Koenig, R-Erlanger, would allow Kentuckians to not just wager on most sporting events around the country, but also set up a regulatory framework for residents to legally play online poker and fantasy sports contests, with the state receiving revenue from taxes, registration fees and licensing fees.
“The NTRA is pleased to collaborate with Dean Dorton to offer this special tax webinar for the horse racing and breeding industry,” said Alex Waldrop, President and CEO of the NTRA. “Last year’s sweeping federal tax reform legislation was the first of its kind in more than 30 years and is full of changes best explained by the experienced equine tax accountants at Dean Dorton.”
Matt Koch graduated from the University of Kentucky College of Agriculture in 2000 and went directly into the Marine Corps as a 2nd Lt. Koch served 5 years as an Intelligence Officer deploying to Kosovo and Afghanistan. Upon his release from active duty he established Shawhan Place LLC with longtime horseman Ted Kuster. Shawhan Place is a full service boarding operation that handles everything from breeding, breaking, quarantine and sales. It was a natural fit to return to the Thoroughbred Industry after growing up on Claiborne Farm. Matt is a current member and past president of the Kentucky Thoroughbred Farm Managers Club. He lives in Paris with his wife, Kristen and three children, Taylor, Jack and Nate.
Historic racetrack Keeneland and live sports lottery game provider EquiLottery Games have reached an agreement to feature races from the 2019 Keeneland Spring Meet as part of the upcoming trial run of Kentucky's Win Place Show, the first daily U.S. lottery game based on the results of live horse racing.
Stuart E. Brown, II, DVM is a partner of Hagyard Equine Medical Institute in Lexington, Kentucky, where he has been in practice since graduating from Tuskegee University School of Veterinary Medicine in 1991. He was born and raised in Versailles, Kentucky, and graduated from Transylvania University while working locally in the Thoroughbred industry since high school. Dr. Brown is a member of the Equine Drug Research Council of the KY Horse Racing Commission; Vice Chairman of the Gluck Equine Research Foundation; Board of the American Association of Equine Practitioners; Member of the AAEP Public Policy and Welfare Committee; Board of the EEI/ Rolex Three Day Eventing Championships; Trustee to the AVMA Professional Liability Trust, and Legislative Committee of the KVMA; active on the UK Veterinary Livestock Disease Laboratory Advisory Committee. In addition he is a current Director of the Kentucky Thoroughbred Association, Inc./Kentucky Thoroughbred Owners and Breeders, Inc., serves on the KTA/KTOB Scientific Advisory Committee for the KTOB Foundation and is Treasurer of the KTA PAC. He says of his tenure at KTA/KTOB, "I believe strongly in the mission of the KTA in its advocacy for the industry in the Commonwealth and its leadership position in maintaining Kentucky as the Capital of the TB Industry. This organization represents the interests of the breeders and stakeholders as stewards of the industry for generational deliverance of the ideals and cultures that have served this business to allow it to attain its present day position. The appointment to the KTA Board has represented one of the most important positions for which I have been appointed on to serve for both my profession and as a breeder."
Craig Bandoroff is the owner, with his wife Holly, of Denali Stud in Paris, Kentucky. Denali Stud is a boarding operation mostly involved in breeding and raising horses for the commercial market. Denali is also a consignment agency and consistently has been a leading top 5 consignor in the industry over the past 10 years. Bandoroff is also a breeder with a broodmare band of about 15 mares. Champion Serena's Song has resided at Denali Stud her entire broodmare career and the farm raised KY Derby winner & Dubai World Cup winner, Animal Kingdom. He has been actively involved in the horse business for over 30 years as a jockey, sales company employee with Fasig Tipton, and a bloodstock consulting firm. Current Director of the Kentucky Thoroughbred Association/Kentucky Thoroughbred Owners and Breeders, Inc. and Chairman of the Marketing Committee, current President of CBA, a board member of KEEP, an active member of TOBA, a former director of the Thoroughbred Club, a former board member of The Lexington School, and a founding member of the NTA. The Bandoroff’s have three children and reside in Lexington.
A well illustrated summary of important points for pasture management. Awareness of appropriate pasture management is a must among horse owners and farm managers.
Plaintiffs AmTote International and Parimax Holdings, both owned by The Stronach Group, and defendants Kentucky Downs, Exacta Systems, and Magellan Gaming have reached a resolution of their existing litigation in Kentucky and Wyoming involving patents in historical racing games, according to a release from Exacta Systems.
A Kentucky state senator whose professional background includes media and event management positions within the Thoroughbred industry has filed a bill that would redistribute how a portion of the state’s excise tax on horse racing wagers gets used to fund equine education programs at Kentucky’s colleges.
Braxton has been involved in the Racing Game her whole life. Her grandparents, Harry and Jane Lunger, owned the successful Christiana Stables, which she and her mother continue to operate today. She worked her summers for Walnut Green Sales Consignment, which was owned by her father and uncle. After graduating from Trinity College (CT), Braxton moved to Kentucky to work for Three Chimneys Farm, where she held the position of Director of Sales until 2007. Braxton now owns and operates Royal Oak Farm in Paris, Kentucky with her husband, Damian. They have quickly gotten off the ground as a successful operation by raising or selling such Graded Stakes Winners as Union Rags, Pure Fun, Boys at Tosconova, Nereid and Ready to Please.
A six-week course covering all aspects of the Thoroughbred industry will be presented at the Carnegie Center for Literacy and Learning in Lexington, beginning Jan. 15. The course, from 5:30-7 p.m. EST every Tuesday through Feb. 19, is sponsored by the Kentucky Thoroughbred Association and Kentucky Thoroughbred Owners and Breeders. The course costs $25. It will be taught by Andreas Branchini, who has worked in the horse industry in five countries for 34 years.
The 145th running of the Kentucky Derby presented by Woodford Reserve (Grade I) on Saturday, May 4 will be the richest in history as the purse for America’s greatest race and first leg of horse racing’s Triple Crown has been elevated to a guaranteed $3 million.
The Keeneland January Horses of All Ages Sale–which surged passed its total 2018 gross after its third session Wednesday–concluded Thursday with its highest gross since 2008 and with a record-setting average and record-equaling median.
Questioning a number of actions by the Kentucky Horse Racing Commission in awarding a Standardbred license in the Oak Grove, Ky. area to a partnership of Churchill Downs Inc. and Keeneland, Kentucky Downs has appealed the regulator's decision to the Franklin (Ky.) Circuit Court of Appeals.
The National Thoroughbred Racing Association, National Turf Writers And Broadcasters and Daily Racing Form announced today that finalists for the 2018 Eclipse Awards will be revealed live on Saturday, January 5 at 11:05 a.m. ET from Gulfstream Park on http://gulfstreampark.com , all racetrack outlets carrying the Gulfstream Park simulcast feed, and on XBTV.com.
Charlie LoPresti and his wife own 200-acre Forest Lane Farm in Lexington on the eastern fringe of Fayette County. Charlie handles the racing string at Keeneland Race Course, where he has been based year round for more than a decade. With a goal of learning all phases of handling Thoroughbreds, LoPresti obtained a job at Domino Stud in Lexington in 1978 where he worked under renowned horseman Ted Carr. LoPresti then worked for about six years as assistant manager under Carr at Allen Paulson's Brookside Farm in Lexington. Lopresti left to start developing Forest Lane, during which time he also served as trainer for Calumet Farm for whom he won four stakes races during tenure of about six years. He became the first trainer to win back-to-back editions of the Ricoh Woodbine Mile (Can-G1) with Turallure in 2011 and Wise Dan in 2012. Wise Dan went on to win the Breeders Cup Mile, breaking a 15 year old track record. He capped off the year earning three Eclipse Awards for Older Male, Turf Male and Horse of the Year, the only horse to acheive that mark since John Henry. Through Sept. 2012, LoPresti has won more than 180 races that have earned more than $8 million.
In a decision that backs the Kentucky Horse Racing Commission's power to define equine medication thresholds and supports the regulator's absolute insurer rule, the Kentucky Court of Appeals has overturned a circuit court ruling and said the KHRC should reinstate penalties against trainer Graham Motion and owner George Strawbridge Jr.
On January 8th, the legislative session will commence in Frankfort, and shall last for thirty staggered days until March. The largest issue facing the Commonwealth of Kentucky is the accumulated debt of over $40 billion in multiple public employee retirement plans. Much has been written about how Kentucky arrived at this fiscal juncture and consequently there has been consideration and review during the interim by a bi-partisan Task Force on Tax Expenditures, found here of the $5.8 billion in tax expenditures, or exemptions, deductions or credits granted to individuals, select groups or specific activities.
With NFL fans accustomed to hearing a brief explanation from officials if replay reverses a call on the field, Turfway Park and the stewards at the Northern Kentucky track are going to try a similar approach.
McLean is a co-owner and the business manager of Crestwood Farm. An owner/breeder with over 25 years of industry experience. Current Director and President of KTA-KTOB. Also, currently serves on the board of the Keeneland Association, Thoroughbred Charities of America; and as a trustee of Sayre School. Past board member of Commerce Lexington. Co-breeder of Champion filly XTRA HEAT. A graduate of Transylvania University, McLean resides at Crestwood Farm with his wife Lisa and their three children.
A native of Lexington, Price grew up working for his family's Mill Ridge Farm; knowing it was a great privilege to weed-eat, hay, or anything else that needed to be done. Following college, Price moved to Charlotte, NC to work in commercial real estate and development. This early career took him to Nashville, TN where he became very involved in Nashville's blossoming downtown community revitalization. Always promoting and passionate about Thoroughbreds and Central Kentucky, Price jumped at the opportunity to return to Lexington and work with his father, Headley, at Nicoma Bloodstock - the consulting arm of Mill Ridge Farm. With conviction for the sport and believing in the great opportunity to develop our fan base, Price became actively involved with the KTA's Vision 2020 group and ultimately honored to join the board of the Kentucky Thoroughbred Association, Inc./Kentucky Thoroughbred Owners and Breeders, Inc. Price serves as a board member of Horse Country, TOBA, The National Racing Museum, Fayette Alliance and the NoLI community development corporation.
Equibase Company, in partnership with Keeneland and at the request of the Kentucky Horse Racing Commission, conducted a test at the Lexington, Ky., track to collect workout data using global positioning satellite (GPS) technology, it was announced today.
The Kentucky Horse Racing Commission set penalty classifications this week for three new substances after a post-race drug test this fall resulted in a finding for cannabidiol. Cannabidiol is a constituent of cannabis and industrial hemp plants and the active ingredient in CBD oil. The commission voted unanimously to classify the substance as a Class B drug. Horsemen with a Class B finding are subject to suspension of up to 60 days and a fine of up to $1,000 for first offense.
Keeneland today announced expansions to its 2019 Spring Meet, which will open Thursday, April 4, a day earlier than in previous years, and present two new stakes, both $100,000 turf sprints, to its schedule for a total of 18 stakes worth a season record $4.6 million in purse money. Topping the 16-day meet, to be held April 4-26, are the $1 million Toyota Blue Grass (G2) and $500,000 Central Bank Ashland (G1), both nationally prominent classic preps set for opening Saturday, April 6.