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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.
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.
Monday, July 30, 2001Youbet.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.
Thursday, July 26, 2001For 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.
Tuesday, July 17, 2001Until TVG's show "The Sales" aired on July 1, the best way for a buyer to prepare for a sale without visiting the farms selling yearlings was to sit down with a sales catalogue and a sales supplement. This all changed with TVG's new program, a preview of the Keeneland July 2001 selected yearling sale. It highlights the yearlings offered at this sale like no advertisement or pedigree page could ever do.
Wednesday, July 11, 2001New York City Off-Track Betting Corp. falling into the hands of a consortium led by Magna Entertainment would be "an affront" to the entire racing industry, the head of the New York Racing Association charged.
Monday, July 09, 2001The Nasdaq National Market has informed Youbet.com, Inc. that the company is now in compliance with listing qualifications and will not be dropped from its listings.
Monday, July 09, 2001The 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.
Friday, June 29, 2001From a preview show to the sale itself, TVG will offer live coverage and analysis of the 2001 Keeneland July Selected Yearling Sale. Caton Bredar will report on all events from the Keeneland Sales Pavilion with hosts Todd Schrupp and Frank Lyons in the Los Angeles studio. The live sale broadcast will run July 16-17 from 7-10 p.m. EDT.
Thursday, June 28, 2001The Oregon Racing Commission on Friday approved an application by the TV Games Network for to operate a wagering hub. Currently, TVG wagers run through a hub operated by NTRA Services, a subsidiary of the National Thoroughbred Racing Association and marketing partner of TVG.
Friday, June 22, 2001NTRA Services will not renew its license to operate a wagering hub in Oregon. Instead, the TV Games Network, for which the National Thoroughbred Racing Association subsidiary operates the hub, is expected to apply for the license itself.
Tuesday, June 19, 2001Youbet.com, an online horse racing and wagering site that has burned through more than $64 million since 1998, expects to begin turning a profit in 2002. The company also expects to have more than 20,000 subscribers by the end of the year.
Thursday, June 14, 2001Gemstar-TV Guide International Inc. and Adelphia Communications Corp. have signed a 20-year Interactive Program Guide agreement that could feature a major expansion of the TV Games Network. Gemstar-TV Guide is the parent company of TVG.
Monday, June 11, 2001By Ray Paulick -- The recent agreement between the TV Games Network and Youbet.com looks like a win-win-win-win situation for the racing industry.
Wednesday, May 30, 2001The Nasdaq stock exchange notified Youbet.com officials Tuesday that the company still fails to meet its minimum price requirement and is subject to being delisted. To remain on the exchange, Youbet.com stock needed to trade about $1 per share for 10 consecutive days before Monday.
Friday, May 25, 2001Youbet.com just completed its busiest week ever. The Preakness Stakes (gr. I) and a handicapping contest held in conjunction with the Daily Racing Form attracted $2.6 million in online wagers for the week ending May 19.
Wednesday, May 23, 2001Youbet.com has signed a deal that could give the Television Games Network a majority interest in the online horse racing and wagering service. Under the terms of the agreement, Youbet.com will pay TVG fees based on the handle. Youbet.com also has issued warrants allowing TVG to buy 19.9% of the online service's 19.4 million shares of common stock for 1 cent per share. Youbet.com's stock reacted strongly to the news. The stock, which closed at 75 cents per share Friday, jumped 101% to peak at $1.51 within the first hour of trading Monday.
Monday, May 21, 2001TVG announced that it will broadcast the entire card from Pimlico including the Black-Eyed Susan Friday, May18, as well as several of the undercard stakes on Preakness Day Saturday.
Friday, May 11, 2001TVG has announced that it will televise the $1.65 million Singapore Airlines International Cup from Kranji Racecourse beginning at 11 a.m. eastern standard time Saturday, May 12. The race will be shown on a tape-delayed basis, and there will be no TVG account wagering on the contest.
Friday, May 11, 2001Horse racing and bourbon go neck and neck in Kentucky... Millennium Wind is the star of the Heerenspergers show...Gary Mandella to return to training.
Tuesday, May 01, 2001TVG will provide tape-delayed coverage of the Audemars Piguet Queen Elizabeth II Cup (Gr. I) from Sha Tin Racecourse in Hong Kong, featuring the globetrotting French star Jim and Tonic, the winner of the $2 million Dubai Duty Free Stakes (gr. I) in his last race. With a purse $1.3 million, the international event will be aired on TVG Sunday, April 22 starting at 11:00 a.m. (EDT).
Thursday, April 19, 2001TVG today announced its broadcast schedule of live events from Churchill Downs surrounding the Kentucky Derby (gr. I) and the Kentucky Oaks (gr. I), highlighted by "The Works."
Wednesday, April 18, 2001By Steve Haskin -- OK, NBC, it's all yours. You got the whole kit and kaboodle, or is it the whole enchilada? However you want to say it, the Triple Crown is yours to improve, maintain, or ruin.
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