Having recorded its first annual profit in 2009 after four years of loss, US online horserace betting provider Youbet.com has slipped back into the red, posting a net loss of $0.5m for the first quarter of 2010 after incurring costs of $1.0m in legal and professional fees directly related to its impending acquisition by rival Churchill Downs Incorporated.
Youbet.com reported a 7 per cent drop in total revenues to $26.0m for the first quarter, with revenues [...]
