South American Simulcast Program Gets Under Way
Updated: Wednesday, July 26, 2006 12:12 PM
Edited press release
Posted: Wednesday, July 26, 2006 12:12 PM
Charlson Broadcast Technologies and affiliated groups have announced the opening South American off-track betting parlors and agencies that will commingle wagers in the United States and return percentages of revenue to the racing industry.
The parlors and agencies in Brazil, Peru, and Venezuela will import signals from many North American racetracks via Charlson's satellite delivery system. The wagering outlets will employ Charlson's International Wagering Terminals and use the AmTote International hub in Hunt Valley, Md.
The South American simulcast venture was first announced by Charlson officials last summer.
"CBT has spent two years developing the technology and infrastructure, negotiating contracts, and cementing relationships with industry leaders and parties in South America," Charlson president and chief executive officer Cary Charlson said. "It is very exciting to finally have it in operation. Using the latest (technology), CBT has made it affordable to open parlors and agencies in these countries at a fraction of the expense incurred in the United States."
Carnegie-Cooke and Company, a Nevada corporation, is CBT's affiliate in Brazil. The company has a long-standing agreement with the Jockey Club de Campos to provide simulcast racing throughout the state of Rio de Janeiro. Carnegie-Cooke plans to open locations in Campos, Macre, and Niteroi.
Peru Gaming, a Texas- based company, will be CBT's affiliate in Peru. The first installation at the Atlantic City Casino in Lima, Peru, is scheduled to open in mid-August. The outlet will compete with operations in Peru that book bets on American racing but don't share profits with horsemen in the U.S. or Peru.
All parlors and agencies will provide host-track odds and payoffs on all wagers, including exotic wagers previously not available to South American patrons. All wagers at the foreign sites will be entered into the U.S. pari-mutuel pools at the individual tracks. A percentage of every dollar bet will be paid to the horsemen in those countries, and taxes will be remitted to local governments and related agencies.
"This project will be a win for everyone," said Charlson, whose company is based in Erlanger, Ky. "These parlors and agencies will provide for new revenue sources for the racetracks and horsemen in the United States, and will benefit the horse industry in these foreign countries. Others have attempted to deliver the signal abroad but seemed to ignore the local racing industry and governments."
Charlson said there are more than 750 betting outlets in Venezuela that now only offer wagering on local races. Charlson's Venezuelan partner, Simulco, will provide the North American signals.
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