December, 2021 | Horse Racing Free Tips

Report: CDI Exploring Selling Off Twinspires

Churchill Downs Inc. is reportedly exploring selling off TwinSpires Racing, which the gaming corporation describes as the “premier online horse racing wagering platform in the United States.”

The financial news site Bloomberg first broke the CDI scoop at 3:40 p.m. Eastern Dec. 2, citing several sources who requested anonymity because they were sharing information that hadn't yet been divulged by the publicly traded company. A CDI official declined comment.

Bloomberg reported that CDI “is working with an adviser to solicit potential interest in the wagering platform.”

One of the sources estimated “TwinSpires could fetch $1.5 billion in any transaction.”

Bloomberg reported CDI itself has a market value of $8.8 billion.

But one of the sources quoted in that story also cautioned that “no final decision has been made,” noting that CDI could continue to own the platform.

During an Oct. 28 third-quarter earnings conference call, CDI's president and chief operating officer, Bill Mudd, gave no hint of a sale of the advance-deposit wagering platform when he answered an investor's question about what to expect regarding TwinSpires in the near future.

“I'd say, first of all, on the fourth quarter [of 2021], we're kind of entering now a very stable period for TwinSpires,” Mudd said.

At a different point in that earnings call, Bill Carstanjen, CDI's chief executive officer, noted that the TwinSpires racing handle was up 31% in the third quarter, driven by a 23% increase in active users compared to 2019, resulting in an increase of $113 million.

And Carstanjen said CDI would be devoting resources to making TwinSpires better.

“The majority of our fourth quarter maintenance capital [for 2021] is related to finishing the new turf course of Churchill Downs Racetrack, new slot purchases, and ongoing improvements to our TwinSpires horse racing platform,” Carstanjen said on that call five weeks ago.

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Robin Goodfellow’s Racing Tips: Best bets for Friday, December 3

Sportsmail's racing expert Robin Goodfellow dishes out his tips for Friday's meetings at Sandown, Exeter, Newcastle and Sedgefield.

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Incident That Left Jockey Paralyzed Was ‘Completely Avoidable,’ Veteran Racing Analyst Tells High Court

Testimony in the paralyzed jockey Freddy Tylicki's lawsuit against Graham Gibbons continued on Thursday in London's High Court, with veteran racing analyst Jim McGrath revealing that he believes the incident was “completely avoidable,” according to The Sun.

Tylicki, a former champion apprentice, has been confined to a wheelchair since a racing incident at Kempton in October of 2016. The 35-year-old has filed a £6 million (about US$6.77 million) lawsuit against jockey Graham Gibbons, with Tylicki alleging that rider's negligence breached the “duty of care” owed by one jockey to another.

Gibbons denies the charges.

Tylicki took the stand earlier this week to relive the moment of his life-altering injuries, watching video of the incident from multiple angles. Similar video was shown in court on Thursday, with McGrath singling out a specific point at which Gibbons' actions affected the incident.

“I don't think there is any question that Mr. Gibbons had the opportunity to correct his horse,” McGrath said. “My experience as a race reader and commentator and my knowledge of the rules and, crucially in this incident the length of time it took to unfold and the position of the incident in this race, are all important matters.

“Putting that all together – to me it was a completely avoidable incident.”

The trial continues.

PTHA’S Ballezzi Retires After 25 Years

After 25 years on the job, Michael P. Ballezzi is calling it quits as the Executive Director of the Pennsylvania Thoroughbred Horsemen's Association. Since taking the reins in 1996 as executive director, Ballezzi has been a champion of the sport, its horsemen, and equine athletes while spearheading programs which would ultimately become the model for industry-wide change in equine aftercare. His most successful efforts include establishing the Horsemen's Purchasing Association, providing bedding, feed, supplements, and equipment at discounted prices on the backstretch at Parx; developing Turning for Home in May 2008, which garnered national acclaim thanks to an HBO feature on Real Sports with Bryant Gumbel; and the creation of The Granny Fund, which provides scholarships to Parx stable employees to continue their education in college and night classes.

On a larger scale, Ballezzi played an integral role in shaping Pennsylvania's horse racing industry through fierce advocation for the passing of the Pennsylvania Race Horse Development and Gaming Act. The legislation legalized slot machines and provided a percentage of the revenue to bolster racing purses and breeding incentives. Following the legalization of slot machines, he played an instrumental role in negotiations with Parx management that culminated with the track rebuilding all existing barns, and renovating all existing dorm rooms with heat and A/C, new wiring, and secured windows and doors. Ballezzi prioritized strong health insurance policies for eligible horsemen including emergency room visits, hospitalization, doctor's visits, a prescription plan, vision and dental care, and life insurance.

“Mike Ballezzi has had an immense impact on Parx and Pennsylvania racing, and he has created a legacy that will benefit horsemen, backstretch workers, and our equine athletes for years to come,” said Salvatore DeBunda, President of the PTHA Board of Directors. “Mike dedicated the past 25 years of his life to championing the interests of those who work in our industry and fighting to create a fair and level playing field for all horsemen. On behalf of the PTHA Board and the horsemen at Parx, I thank Mike Ballezzi for his unwavering commitment to horsemen and his leadership in our industry.”

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