MT: Study says state board not ready to take reins in horse racing

By   /  August 21, 2012  /  Finances, Free Market, Montana, News, State Government  /  No Comments

Horse Racing

By Phil Drake | Montana Watchdog
HELENA – The state Board of Horse Racing was ill-equipped to take over horse racing simulcasts as it understaffed the operation, did poor financial accounting and didn’t respond quickly to daily challenges, a new study finds.
The study, made available late Monday, was written by a consultant looking into why the board lost [...]

Read More →

Cash-strapped horse racing board discusses getting own accountant

By   /  June 29, 2012  /  Montana, Montana Watchdog, News  /  No Comments

By PHIL DRAKE | Montana Watchdog
HELENA – The Board of Horse Racing on Thursday discussed plans to wean itself from using Department of Livestock (DOL) staff and hire their own accountant in the hopes of helping it get a good grasp on its fiscal condition.
One major hurdle may be that the board doesn’t have any [...]

Read More →

Horse racing board didn’t heed warnings, state committee told

By   /  June 14, 2012  /  Montana, Montana Watchdog, News, Uncategorized  /  1 Comment

By PHIL DRAKE | Montana Watchdog
HELENA – Much like a Derby favorite wearing blinders and hellbent for the finish line, Montana’s Board of Horse Racing ignored repeated warnings from Department of Livestock staff about having a business plan in place before taking over horse-racing simulcasts, a move which put them nearly $670,000 in the hole, [...]

Read More →

Group still pursuing horse racing simulcast, but won’t include Derby

By   /  April 26, 2012  /  Montana, Montana Watchdog, News, Uncategorized  /  1 Comment

By PHIL DRAKE | Montana Watchdog
HELENA – Those hoping to sip mint juleps and bet on the Kentucky Derby through simulcasts in Montana will have to put those thoughts on hold as those trying to return the off-track betting system to the state say they could not meet the deadline because of previous debt and [...]

Read More →

Horse racing board wants loan extended; seeks simulcast return

By   /  April 3, 2012  /  Montana, Montana Watchdog, News  /  1 Comment

HELENA – Within days of receiving a loan from the state, the Montana Board of Horse Racing voted Monday to ask for a one-year extension for its first repayment of about $76,200, saying it needs that much time to get the money together.
Also, the board turned the reins over to simulcast operators to [...]

Read More →