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Gemstar Says It Received Notice of Delisting

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California-based Gemstar said it received notice from Nasdaq that it faces delisting because it hadn't filed its most recent quarterly report with the U.S. Securities and Exchange Commission, Reuters news service reported.

Gemstar Stock Crashes 39%

Gemstar-TV Guide International, the parent company of the TV Games Network, lost 39% of its value Monday in a frenzy of selling. Investors reacted to a ruling June 21 that Gemstar's patents for an interactive television program guide have not been infringed by competing products.

Credit Card Company: Online Wagers to be Blocked

Citibank, the nation's largest credit card company, is beginning a new system to block customers from using their plastic to make online wagers, New York attorney general Eliot Spitzer said June 14. The impact on companies that offer pari-mutuel wagering remains to be seen.

NTRA Report Outlines Finances For 2002

In its 2001-02 annual report, the National Thoroughbred Racing Association outlines a $59.5-million budget that relies heavily on revenue from Breeders' Cup Ltd. and membership dues. The NTRA and Breeders' Cup now operate under a joint spending plan.

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.

TVG Grants License to America TAB

Online wagering company America Tab has gained access to many of the country's premier racetracks by entering into a patent and content licensing agreement with the TV Games Network.

TVG to Air on California FOX Affiliates Daily

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In a deal that will give it exposure in a major market, TV Games Network has reached a two-year agreement to exclusively air live Southern California horseracing on FOX Sports Net West (FSN) and FOX Sports Net West 2 (FSN2).

Account Wagering a Work in Progress, Officials Say

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More than $14.5 million has been wagered through California's advance deposit wagering system in the first two months of operation, or about 3.5% of total handle. But while account wagering services had a burst of activity, officials said they were concerned about the leveling off of wagering and the number of new account holders over the past four weeks.

Stock Plunges for TVG's Parent Company

Gemstar-TV Guide stock plummeted Tuesday morning on the heels of poor fourth quarter and year-end results. As of 3 p.m., the parent company of the TV Games horse racing network was down $4.21 to $17.52, a drop of 19.4%.

Youbet Joins Stable; Account-Bet Handle Tops $5M

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Youbet.com has been licensed by the California Horse Racing Board to offer account-wagering services to residents of California, effective immediately. Meanwhile, through Feb. 18, account-wagering handle through two other systems topped $5 million in the Golden State.

TOC: Some NTRA Money Should Go to Purses

The Thoroughbred Owners of California is using a deal with Magna Entertainment as leverage in an attempt to garner a greater share of pari-mutuel takeout from account wagers made through the TV Games Network. In question is a share of the money TVG pays to the National Thoroughbred Racing Association.

Account Wager is Racing's Best Hope, Says Report

Account wagering offers Thoroughbred racing its best opportunity yet for real industrywide growth, according to a new report from Bear, Stearns, & Co. The 128-page report analyzes the regulatory and technological environment governing account wagering, and offers suggestions about what changes must occur for account wagering to expand.

A New Beginning for California Racing?

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The California Horse Racing Board has granted licenses to two companies to offer account wagering effective immediately, and betting will begin. But the licenses are time-sensitive, and some deals with horsemen remain in limbo.

TVG-Magna Negotiations at Impasse Over Exclusive Contracts

Talks between Magna Entertainment and the TV Games Network are over, according to TVG president Mark Wilson, who has been negotiating with Magna chief executive officer James McAlpine in hopes of striking a deal to bring Santa Anita, Gulfstream Park, and other Magna tracks to TVG's racing and wagering network.

Patent Protection Concerns Shake Gemstar-TV Guide Stock

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Gemstar-TV Guide International's stock is tumbling this week because of doubts that the company can protect its interactive programming guide patents in a key court case, according to analysts. Gemstar is the parent company to the TV Games Network, a horse racing network and interactive wagering service.

Exclusivity: Racing Industry Debate Continues

The majority owner of a growing account-wagering service based in Ohio said exclusive contracts that govern betting could cripple the pari-mutuel industry at a time when it is poised for explosive growth. The comments came on the heels of a spirited debate between the TV Games Network and Magna Entertainment over exclusivity, an issue that won't go away.

McAlpine Challenges Industry, TVG to Embrace Free Enterprise

Magna Entertainment president Jim McAlpine told racing industry leaders Thursday that their best chance to compete against Las Vegas and Disney, which he says are horse racing's true competitors, is by making industrywide deregulation and the adoption of free enterprise a top priority. And as Magna prepares to launch its own online and telephone account wagering service in California, McAlpine urged TVG to abandon its exclusive contracts with racetracks and merge its content with Magna's tracks and others.

McAlpine Challenges Industry, TVG to Embrace Free Enterprise

Magna Entertainment president Jim McAlpine told racing industry leaders Thursday that their best chance to compete against Las Vegas and Disney, which he says are horse racing's true competitors, is by making industrywide deregulation and the adoption of free enterprise a top priority.

TVG Hub Handle Tops $12M for Quarter

Handle through the TV Games Network's Oregon hub was $12,414,106 for the third quarter of 2001, almost triple the amount wagered during the third quarter of 2000 but down slightly from the second quarter of 2001.

BC Yet to Iron Out Account-Wagering Wrinkle

Last year, the day before the Breeders' Cup, officials from the organization and the TV Games Network traveled to Ohio to strike a deal allowing Winticket.com, Beulah Park's account-wagering subsidiary, to accept wagers on the eight races. Eleven months later, with the Oct. 27 Breeders' Cup World Thoroughbred Championships asoon approaching, no agreement is in place to cover the same situation.

Oregon Hub Handle Tops $13M for Quarter

The Oregon wagering hub first operated by NTRA Services and now in the hands of the TV Games Network handled $13,033,508 for the second quarter of this year, more than double the first-quarter handle and by far its best three months ever.

TVG, Horsemen Work on Purse Protection

As the California horse racing industry awaited action by Gov. Gray Davis on account wagering legislation, the TV Games Network and Thoroughbred Owners of California announced they had reached an agreement in principle to protect purses should live handle be negatively impacted by account betting.

Keeneland Not Immune From Simulcast Decline

Simulcast handle at most Kentucky racetracks has fallen or remained static in each of the past several years. An exception has been Keeneland, which experienced nine consecutive years of growth through 2000, when the amount wagered on simulcasts topped a record $104 million.

Youbet To Open Oregon Hub a Month Early

Youbet.com will begin taking bets through its new Oregon wagering hub in August, a month earlier than expected. Once the hub is operating, customer can beginning wagering on racetracks once offered exclusively through the TV Games Network. Youbet.com is anticipating significantly higher revenue by the first quarter of next year.

Yearling Sale, As Viewed From Comfort of Your Couch

For more than three hours Monday night, the Keeneland July yearling sale was beamed into the homes of people who can access the TV Games Network either on cable television or by satellite dish. It was somewhat of a breakthrough for the auction end of the business, which generally gets little exposure away from sale pavilions.

TVG Available on Baltimore Cable

The TV Games Network became available today to 40,000 Comcast cable television subscribers in the Baltimore metropolitan area. It is the first time TVG has been available on a cable system outside Kentucky.

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