KTA-KTOB NEWSLETTERS

 Spring/Summer 2014  
 Fall 2013
 Spring/Summer 2013

 KTA-KTOB NEWS 

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.
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.

 [News Archive]

KTA-KTOB FARM PROFILES

A native of Maryland, Wayne Sweezey, who owns and manages Timber Town Stable with his wife Cathy, came to Kentucky in 1975. He worked for trainer Doug Davis for a year, and then went to college at the University of Kentucky to study agriculture. After college, Sweezey worked in management at a couple different farms, including as an assistant at Manchester Farm and general manager of Jaredcrest for 10 years. In 1998, John Phillips offered Sweezey the position of Sales Director at his family’s Darby Dan Farm. Sweezey readily accepted, and in his first year the farm sold a yearling for $1.7 million. Soon thereafter Sweezey was named Manager of the entire operation. After eight years, Sweezey became General Manager and Partner of Darby Dan Farm, a job which he stayed in for a decade.
From dream to reality, Suzi Shoemaker has proven that with enough passion and drive you can make dreams come true. Shoemaker grew up in upstate New York with very few ties to the Kentucky equine industry let alone the Thoroughbred industry. She rode Saddlebreds, showing from the time she was 15 until she graduated from Cornell University with a degree in Animal Science. It was on a vacation during college that she fell in love with Kentucky.
Catherine Parke, a graduate of the University of Kentucky with a degree in Animal Science, always knew Kentucky was home. Originally from Ohio, Parke explained, “I think in a past life I must have been raised here because I don’t want to be anywhere else.” This desire to make Kentucky her permanent home led to the founding of Valkyre Stud in 1978. After teaching hunter and jumper riding lessons after college, Parke wanted to change focus to the Thoroughbred industry and began working for Henry White, an internationally renowned and respected third-generation horseman. Parke gained valuable farm experience with White by working in the office, breaking yearlings, helping with veterinarian work, etc.
Jackie “Jody” Huckabay, Jr. and his late father, Dr. Jackie Huckabay, founded Elm Tree Farm in Bourbon County, Kentucky in 1989. The property was once known as “Clark’s Station” and was built in 1784 by Dr. Robert Clark, a lieutenant in the Revolutionary War. It was home to Elizabeth Station, a part of the railroad which connected Frankfort to Paris and linked the mainline of “The Whiskey Route” which serviced many of Kentucky’s world-famous bourbon distilleries.
Byron “Scooter” Hughes was raised in the Thoroughbred industry. Both his parents were actively involved in the business, and Hughes was raised first on Greentree Farm, and then on Dr. and Mrs. Elsie Asbury’s Forest Retreat Farm near Carlisle.
Tony Holmes, born in Christchurch, New Zealand, dreamed of coming to Kentucky to become more involved in the Thoroughbred business. Before landing in Kentucky, he worked as a mechanical engineer apprentice, worked at a large mining town in outback Western Australia, after which he worked on dairy farms in New Zealand. After time spent on dairy farms, he began employment in the Thoroughbred industry working his first breeding season in New Zealand followed by a breeding season on a farm in Australia.
John and Martha Jane Mulholland’s Mulholland Springs in Northern Fayette County has a unique vision that truly emphasizes “family” and serves as the basis of its entire Thoroughbred operation. That perspective may not appear on first inspection but as its story unfolds it is apparent that the farm strives to maintain a connection to the past as a means to ensure sustainable quality for the future.
Something small and organic is being exported out of Oldham County in northwestern Kentucky but it may not be what you’d initially expect. An enthusiastic group of Thoroughbred fans, owners, and breeders with roots in Oldham County are exporting throughout Kentucky a message to “ordinary folks” about the importance of a robust horse industry.
Trainer Phil Sims is having a tremendous 2013 as a trainer. Currently stabled at Oaklawn Park in Hot Springs, Arkansas, Sims is winning at a 28% clip and rate of 57% in the money finishes. Though having only saddled 14 horses so far in 2013 it seems to appear that Sims may be “on track” to have a career year.
Nestled in between Lexington and Paris are the 300 acres that encompasses Damian and Braxton Lynch’s Royal Oak Farm. Royal Oak has 55 stalls for the Broodmares, foals, and sales prep horses that currently reside at the farm and hosts boarders such as the breeder of Union Rags, Phyllis M. Wyeth, along with Lynch homebreds.
Darby Dan Farm: Quality Runs in the Family It seems as everything old is new again at Darby Dan Farm in Lexington, Kentucky. Excitement for the forthcoming 2013 thoroughbred breeding season is high amongst the team at the farm as they make final preparations for the arrival of new foals and productive broodmares. The hopefulness surrounding a promising new generation of thoroughbreds mirrors the current reinvigorated identity of one of the most historic pieces of land in Central Kentucky.
The cheers emanating from Clarkland Farm for Beholder in the Breeders’ Cup Juvenile Fillies on November 2nd may have been heard clear into neighboring counties throughout Central Kentucky as the filly crossed the finish line first at Santa Anita Race Track in Arcadia, California. The palpable excitement was due to the fact that the team at Clarkland Farm was responsible for mating, foaling, and raising the championship-caliber filly.