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THURSDAY, JANUARY 30, 2020
by: Valerie Mellema
Here's what's happening this week in horse racing!
Zayat Files Motion in an Attempt to Block Third-Party Takeover
Representatives of Ahmed Zayat filed a motion Monday in Fayette County seeking to rescind or modify the court order placing Zayat Stables under third party control. The ruling came last week as the result of a civil lawsuit filed by MGG Investment Group that claims Zayat defaulted on $23 million in loans. Zayat's attorneys noted that Zayat was not represented at the hearing and that a "strongly shewed version of events" was presented. Zayat denies the allegations that he sold numerous shares of racehorses secretly.
New Economic Study Shows Colonial Downs Reopening Could Be Just What Virginia Needs
A new economic study found that the Colonial Downs Group investing in Virginia could be the economic boost the state needs. The Colonial Downs Group includes Colonial Downs Racetrack as well as Rosie's gaming facilities statewide. The reopening would support thousands of jobs across the state and generate millions in additional tax revenue over the year. The report estimated that the investment would create 4,232 direct, indirect and induced permanent jobs and generate $26.1 million in new tax revenue for the state as well as $17.9 million in new tax revenue for host locations. It would create $445 million in combined statewide activity.
Mandatory Payout of Rainbow Pick 6 Paid Big
Six people were feeling pretty lucky after the Pegasus last weekend at Gulfstream Park. The mandatory payout of the 20-cent Rainbow 6 paid $11,600.60 to six lucky winners. The Rainbow 6 carryover jackpot was at $3,612,593.91 at the start of wagering last Sunday when $10,675,853 was bet into the pool. The multi-race wager went for 41 consecutive days until the 2019-2020 Championship Meet prior to Sunday's mandatory payout.
The jackpot pool typically only pays out when a single unique ticket with 6 winners is sold. When there are days when nobody wins, 70 percent of the day's pool goes back to those bettors holding tickets with the most winners. Thirty percent of the money is carried over to the jackpot pool. However, on mandatory payout days, the jackpot pool pays out to all bettors holding tickets with the most winners.
Math Wizard May Not Go to Saudi Cup
Trainer Saffie Joseph Jr. says that based on what he has been told by race officials, it is unlikely that he will be receiving an invitation to the Saudi Cup on February 29th, a race worth $20 million.
While the preference list has not been released, Aiden O'Brien's mare, MAGIC WAND, may be pointed in that direction. While the mare does not have many wins, she does have over $4 million in earnings and was second in the Pegasus World Cup Turf. Trainer Saffie Joseph Jr. is not pleased that turf horses may be considered over dirt horses when the race is a dirt race. In lieu of the Saudi Cup, MATH WIZARD may be pointed to Oaklawn's Grade 3 $500,000 Razorback.
Have a great week!
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