Regulators back plan to expand horse race betting

CARSON CITY -- Nevada gambling regulators voted Wednesday to recommend a plan that would expand the already big betting action on Hong Kong horse races -- touted by operators as among the best in the world -- by allowing bets from Nevada.

The state Gaming Control Board's unanimous recommendation on the venture involving the Hong Kong Jockey Club and the Las Vegas Dissemination Co. now goes to the board's parent state Gaming Commission, which will have final say Aug. 23.

Control Board Chairman Dennis Neilander said he saw "no reason for regulatory concern" over the deal with the 123-year-old Jockey Club, adding that it represents "a great opportunity" to increase horse race betting action.

Winfried Engelbrecht-Bresges, chief executive of the Jockey Club, said the deal could boost the club's annual race handle, or turnover, by more than $1.5 billion.

That represents a potential 12 percent increase over the club's 2006-2007 season total of $12.8 billion in money bet by gamblers -- and regulators were told that's just the start in a bid to globalize betting on the Hong Kong races.

Besides providing a way to bet on the Hong Kong races at Nevada casinos and sports books, Las Vegas Dissemination President John Gaughan said his company is the Jockey Club's agent across the country.

In addition to the Nevada venture, Las Vegas Dissemination on Wednesday announced a similar commingled wagering arrangement with Foxwood's Resort Casino in Connecticut for simulcasts of Jockey Club races.

Engelbrecht-Bresges said commingling of the U.S. bets with Hong Kong bets creates a larger pool, and that's a "good value" for knowledgeable gamblers trying to pick winners.

He also said Internet access to Jockey Club data will provide U.S. gamblers with quick access to horses' training and medical records and other information.

Henry Chan, the Jockey Club's executive director for betting, said the link with Nevada, once finally approved, will be a model for commingling other pools where Kong Kong races are now simulcasted but where race pools are separate.

The $12.8 billion handle for the Jockey Club's 78-race season is big. Vinny Magliulo, Las Vegas Dissemination marking executive, noted that the New York Racing Association's 270 races at Aqueduct, Belmont Park and Saratoga tracks in the same period had a combined $3.3 billion handle.

Bob Faiss, the Nevada attorney for the Jockey Club, said Nevada's imprimatur is essential in achieving the globalization goal because of its reputation for close oversight of the gambling industry.

Engelbrecht-Bresges said the Jockey Club also deals with a highly regulated environment, and both the Chinese government and his board are concerned "that we do it the right way" in expanding.