Gemstar-TVG Guide International, the parent company to the TV Games Network racing channel, suffered a serious blow in court Friday when it lost a crucial patent infringement case.
Television Games Network has acquired 16.6% of Youbet.com's outstanding shares of common stock.
Gemstar-TV Guide International, parent company to the TV Games Network, posted a steep first quarter net loss due to $297.8 million write-off and declining revenu
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.
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.
TV Games Network and AmericaTAB have signed a patent license and content agreement that allows AmericaTAB to accept wagers on TVG's exclusive partner tracks, and implement TVG technology.
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.
Gemstar-TV Guide stock plunged Friday after a report released two days ago said the company may have engaged in "patent misuse" and that its on-going patent infringement lawsuit may be groundless.
Officials with Hollywood Park and the Thoroughbred Owners of California struck a deal April 23 on revenue splits for wagers made on the track's races. The Hollywood Park spring meet opens April 24.
Youbet.com has signed a one-year marketing agreement that makes the California-based company the official online wagering service for this year's Kentucky Derby (gr. I).
Trainer Tom Amoss will join the cast for "The Works," a TV Games Network program sponsored by Keeneland, from April 22-May 1.
TVG will again produce "The Works" from Churchill Downs, focusing on Kentucky Derby and Oaks-bound horses and their daily doings at the Louisville track.
Gemstar-TV Guide became part of its eighth class action suit in two weeks on Tuesday.
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).
On Saturday, TVG will unveil a new show devoted to Quarter Horse racing.Called "The Quarters," it will feature on-site production from Los Alamitos Racecourse in Cypress, California, and run from 11 p.m. to 2 a.m. (ET) on Thursday through Saturday and 9 p.m. to
midnight (ET) on Sunday each week.
TVG will unveil a new Sportscenter-type stakes recap show Sunday, April 7 at 8 p.m. eastern time.
Gemstar-TV Guide, the parent company of the TV Games Network, took a heavy blow in the stock market Tuesday after an analyst questioned the accounting of $127.6 million in revenue.
Adelphia Communications on April 1 launched the TV Games Network on digital cable television in certain parts of Los Angeles.
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.
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.
A 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.
TVG 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.
TVG 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.
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%.
TVG 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.
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.
TVG launched its newly redesigned Web site, TVGNetworks.com, featuring complete interactive wagering capabilities with real-time odds and betting pool information.
Barretts 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).
TVG 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.
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.
Bo 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).
Despite 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.
- By Ray Paulick
By 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.
In 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.
Magna 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.
Oaklawn 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.
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, 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.
At 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.
Applications 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.
Applications from four companies seeking to offer account wagering in California will be considered by the California Horse Racing Board on Jan. 24.
- By Ray Paulick
By Ray Paulick -- TVG isn't the only one getting hurt by the impasse with Magna over account wagering in California.
Racing and breeding news and information.
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.
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.
The 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.
Mark 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."
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.
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.
The 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.
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