TVG Enjoying Triple Digit Growth
The TV Games Network is enjoying record growth due to the opening of Hollywood Park, the Kentucky Derby (gr. I), and an increasing popularity in Quarter Horse racing at Los Alamitos.From April 25 to May 4, the 24-hour horse racing channel and interactive wagering company signed up over 7,500 new subscribers and processed over $8 million in total wagering handle, a 254% increase compared with the similar time period in 2001. TVG's total wagering handle on Kentucky Derby day this year was nearly $2.8 million, a 200% increase over 2001 Kentucky Derby Day wagering handle."We are well on our way to the best quarter in the short history of this company," said Mark Wilson, president and chief executive officer of TVG. "The numbers illustrate the remarkable growth that TVG is capable of delivering and reflect a number of very positive developments for the company this year, including increased distribution in Southern California. Of course, we benefited from superior racing content with the opening of Hollywood Park and the Kentucky Derby, and an increase in business from the introduction of The Quarters, our nightly show from Los Alamitos that exposes Quarter Horse racing to new audiences on TVG."TVG began processing wagers from California residents earlier this year and increased distribution of its television network in Southern California with carriage on Adelphia digital cable systems and through its recently announced relationship with Fox Sports Net West and Fox Sports Net West 2.The agreement with Fox Sports includes two hours per day of live racing coverage by TVG. The network also conducted its first major marketing effort in Southern California."Over a very busy two-week period, our customer service functions and wagering systems successfully handled this major spike in our business," Wilson said.
by Eric Mitchell
Date Posted: 5/8/2002 11:33:17 AM
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