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The California Horse Racing Board heard a positive report on the startup of account wagering. But it was tempered by concern over a leveling off of activity in recent weeks. It was also reported that an agreement still has to be reached for the upcoming Hollywood Park meet.
Thursday, March 28, 2002More 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.
Thursday, March 28, 2002A founder of Youbet.com who recently rejoined the pari-mutuel wagering network says the company's new management team is focusing on marketing, cooperative efforts with racetracks, and raising capital.
Wednesday, March 27, 2002TVG announced the launch of Exactamundo, a handicapping game that rewards TVG account holders for selecting the correct exacta in TVG's weekly Saturday Spotlight Race.
Wednesday, March 27, 2002TVG has announced it would offer exclusive live U.S. television coverage as well as in-home wagering on the $6-million Dubai World Cup (UAE-I) from Nad Al Sheba Racecourse in Dubai, U.A.E. on Saturday.
Wednesday, March 20, 2002Gemstar-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%.
Tuesday, March 19, 2002TVG will air the preview works from the Barretts Selected 2-year-olds sale from Fairplex Park in Pomona, Calif. The show will air Feb. 28 for one hour beginning at 11:00 a.m. The sale will be held March 5.
Wednesday, February 27, 2002Youbet.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.
Thursday, February 21, 2002TVG launched its newly redesigned Web site, TVGNetworks.com, featuring complete interactive wagering capabilities with real-time odds and betting pool information.
Thursday, February 21, 2002Barretts Equine Limited and the TVG Network have announced that a replay of Barretts' Feb. 25 video preview will be broadcast on TVG on Thursday, Feb. 28 from 8 -9 a.m. (PST; 11-12 EST).
Wednesday, February 20, 2002TVG announced that the network will be airing the under tack show for the Fasig-Tipton selected 2-year-olds in training sale from Calder Race Course in Miami, Fla.
Friday, February 15, 2002The 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.
Tuesday, February 12, 2002Bo Derek, Alex Trebek, Jerry O'Connell, and David Cassidy are among the celebrities scheduled to appear on TVG's second annual Viewer's Choice Awards that will air tonight (Feb. 11) at 9:00 (EST/6:00 PST).
Monday, February 11, 2002Despite not being able to take bets on the two California Thoroughbred tracks currently operating, the Television Games Network said it is running neck and neck with competing account wagering entity XpressBet on total telephone and Internet handle for the first 12 days of legal advance deposit wagering (ADW) by California residents.
Thursday, February 07, 2002By Ray Paulick -- Concern for the racing fan and the industry doesn't appear to be driving some of the decisions regarding account wagering in California.
Tuesday, February 05, 2002In an open letter to the California Thoroughbred industry, Thoroughbred Owners of California chairman Jack Owens said the organization has taken its "stewardship role very seriously" in regard to account wagering, and said its agreement with Magna Entertainment is a "critical benchmark" for negotiations with other companies.
Thursday, January 31, 2002Magna Entertainment Corp. said it would pay a racetrack partner in its new XpressBet account wagering system up to 60% of the takeout if the bet is placed with a 25-mile radius of that track.
Tuesday, January 29, 2002Oaklawn Park raises the curtain on its 54-day meet Friday in the heart of Hot Springs National Park in Arkansas. The oval first saw racing in 1905.
Friday, January 25, 2002The 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.
Friday, January 25, 2002TVG, the 24-hour interactive horse racing network, announced Wednesday its television network will be included in the digital cable television service for select Los Angeles area cable systems owned and operated by Adelphia Communications.
Wednesday, January 23, 2002At the invitation of The Blood-Horse, each of the four license applicants seeking to offer Advance Deposit Wagering in California was asked to provide a brief statement concerning their applications. With the exception of Youbet.com, which declined to submit a statement, the responses can be viewed at the following links.
Wednesday, January 23, 2002Applications from four companies seeking to offer Advance Deposit Wagering, or account wagering, in California will be considered by the California Horse Racing Board Thursday, Jan. 24. The regulations were approved by the state last Friday, allowing the CHRB to proceed with consideration of the applications from Autotote Enterprises Inc., Magna Entertainment Corporation, ODS Technologies (TVG), and Youbet.com. At the invitation of The Blood-Horse, each of the four license applicants was asked to provide a brief statement concerning their proposal for account wagering in California. Here is the response from ODS Technologies' TVG operation.
Wednesday, January 23, 2002Applications from four companies seeking to offer account wagering in California will be considered by the California Horse Racing Board on Jan. 24.
Friday, January 18, 2002By Ray Paulick -- TVG isn't the only one getting hurt by the impasse with Magna over account wagering in California.
Tuesday, January 15, 2002Talks 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.
Thursday, January 10, 2002The 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.
Friday, December 21, 2001The clock ticks for the arrival of account wagering in California, and it may keep ticking well into the new year. The earliest the state's racing fans can expect to be able to open accounts and begin telephone or Internet wagering is mid-February 2002, but depending on how well the regulatory review process goes, wagering might not occur until some time in May.
Friday, December 21, 2001Mark Wilson, president and CEO of TVG, has issued a lengthy statement in response to widely-reported comments made by Jim McAlpine, President and CEO of Magna Entertainment Corporation, at the University of Arizona's Race Track Industry Program's "Symposium on Racing."
Friday, December 07, 2001Magna 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.
Thursday, December 06, 2001Magna 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.
Thursday, December 06, 2001The long-winding process of making legal account wagering part of California's horse racing landscape got a quick approval Friday, Nov. 30, from the state Horse Racing Board.
Saturday, December 01, 2001The TV Games Network's parent company reported a 13.5% increase in net loss for the third quarter ending Sept. 30. The increase in losses was attributed to charges related to the merger between Gemstar and TV Guide in July 2000 and to higher operating expenses.
Thursday, November 15, 2001When California introduces account wagering, the TV Games Network will be ready for a full assault. Perhaps the last great frontier for the home-wagering revolution, the Golden State represents a golden opportunity for TVG when advance-deposit wagering becomes legal in the state Jan. 1, 2002.
Wednesday, November 14, 2001Robert Fell has stepped down as chief executive officer of Youbet.com, an online horse racing and wagering company, and will be replaced by two men. Vice presidents Ronald Luniewski and Phillip C. Hermann will share CEO duties.
Monday, November 12, 2001The Television Games Network can legally handle account wagers in Maryland, according to the state racing commission.
Friday, November 09, 2001Handle 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.
Wednesday, October 31, 2001An agreement struck over the weekend will allow all online and telephone account wagering services to put the World Thoroughbred Championships on their menus Oct. 27.
Tuesday, October 23, 2001TV Games Network and the National Thoroughbred Racing Association are offering daily replays of TVG's "The Works: Breeders' Cup 2001" on the Internet. Meanwhile, TVG will broadcast a top night of Quarter Horse Racing from Los Alamitos Oct. 20.
Thursday, October 18, 2001Adding to a weekend line-up that already features the grade I Jockey Club Gold Cup, TVG announced it will once again broadcast the Prix de l' Arc de Triomphe live from Longchamp Racecourse outside of Paris on Sunday, October 7.
Thursday, October 04, 2001Thoroughbred racing and simulcasting at major locations in the United States shut down Tuesday due to the terrorist attacks in New York and Washington, D.C. Many also planned to close Wednesday. The commissioner of the National Thoroughbred Racing Association said it could take a while "to sort out the implications for the country, as well as our business."
Tuesday, September 11, 2001Youbet.com today announced the opening of its new Oregon wagering hub. The new hub allows Youbet.com customers access to racetracks previously available only through the TV Games Network. Along with the new hub, Youbet has adjusted its price. The service now charges a fee per transaction instead of a monthly fee.
Thursday, August 30, 2001Gemstar-TV Guide International posted a second-quarter net loss of $134.8 million (33 cents per diluted share), primarily because of the $223.8-million amortization of intagible assets recorded as part of the acquisition of TV Guide.
Wednesday, August 15, 2001California Gov. Gray Davis signed Assembly Bill 471 into law on Aug. 13, authorizing advance deposit wagering and including provisions that will allow backstretch workers to organize for collective bargaining purposes.
Tuesday, August 14, 2001The 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.
Tuesday, August 07, 2001As 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.
Tuesday, August 07, 2001Simulcast 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.
Friday, August 03, 2001The TV Games Network debuted on basic cable television in the Lexington market in late December of last year. And for the first six months of this year, handle on simulcast-only days at Keeneland is down more than $4.7 million from the comparable period last year.
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