velocity wagering

[tanner12oz]

I have a feeling black helicopters might show after posting this but....

I just read an article that mentions velocity wagering as being an offshore adw owned by Churchill for rebate players...first of all this was a decent secret cuz I never heard about it..however someone has since they were top 4 in off track handle for a race on the derby undercard. So I'm assuming velocity is invite only...how much handle ya think gets an invite? Doesn't this appear a little shady on churchills end to be operating secret (well till now) adws in locals away from u.s. Jurisdiction and prying eyes?

I'll probably end up in a NJ swamp after this post but I found it a little interesting so what the heck

[tanner12oz]

The most money wagered on the third race May 3 at Churchill was the $545,292.50 sent in on-track. The other four outlets with more than $100,000 wagered were advance-deposit wagering outlets TwinSpires.com, TVG.com, XpressBet.com, and Churchill Downs-owned Isle of Man-based rebate shop Velocity Wagering.

Read more on BloodHorse.com: http://www.bloodhorse.com/horse-racing/articles/85046/bonnie-wants-investigation-of-derby-day-race#ixzz31e7uPSAE

[highnote]

Maybe mention of it can be found in CD's annual report? Nevermind, the link above confirmed CD owns Velocity.

It would be interesting to know who uses Velocity.

[tanner12oz]

Google searches turn up very little...couple sec filings and such....this is really under the radar compared to twinspires which is shoved down everyone's throat

[tanner12oz]

The online segment includes TwinSpires.com; Luckity.com, a gaming site tied to horse racing; Velocity Wagering Ltd., a rebate shop based offshore on the Isle of Man; and HRTV, which CDI owns along with The Stronach Group. Total online-based handle for the third quarter increased 10.6% to $215 million, but EBITDA dropped 8% because of the launch of Luckity.com, expenses related to building an exchange wagering network in California, and continued losses from HRTV.

CDI hasn't publicly discussed Velocity, which is listed as being licensed by the government in the Isle of Man and incorporated in October 2011 but has no website. Racing industry sources have said Velocity has actively sought major players that wager and get rebates from other specialty wagering outlets.

Representatives of a few horsemen's groups said they found out about Velocity after seeing it listed on simulcast contracts as a receiving site for racing signals.

Gaming revenue decreased $2.4 million, or 5%, during the quarter largely due to continued competition in the South Florida market and the closure of casino and video poker operations in New Orleans, La., for five days in September because of Hurricane Isaac. Calder had a 12% drop in revenue, Mudd said.

"This may be the new operating reality at this location," Mudd said of Calder, which has slot machines.

As for 2013 and beyond, CDI has acquired the Riverwalk Casino Hotel in Mississippi and is spending $15 million to rebuild Harlow's Casino in Mississippi following a flood; will proceed with construction of a racetrack video lottery terminal casino in southwestern Ohio in partnership with Delaware North; will begin marketing Luckity.com after a soft launch in October; and will open an off-track betting facility with 50 video poker machines in Jefferson Parish, La.

CDI chief executive officer Bob Evans also reported that "The Mansion" a high-end facility being constructed in the former press box at Churchill, is 93% sold or committed through three- to seven-year contracts. The new "Paddock Plaza" area at the Louisville racetrack will add more than 200 "upper-price-range" seats for major events beginning next year, he said.

"I'm excited about how our portfolio of growth initiatives is going," Evans said.

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Read more on BloodHorse.com: http://www.bloodhorse.com/horse-racing/articles/74260/cdi-says-its-poised-for-growth-in-2013#ixzz31eBB515q

[highnote]

The most interesting part in the above post:

expenses related to building an exchange wagering network in California,

Is CD building a betting exchange?

[tanner12oz]

The most interesting part in the above post:



Is CD building a betting exchange?

the exchange was suppose to happen with the takeout increases in ca...but if course only the takeout increase portion came to fruition