Wagering through TV Games Network rose 34% in 2003 to $213,725,181 and television distribution of the network increased by 45%, the company reported Thursday.
Magna Entertainment Corp. may have some explaining to do at this month's California Horse Racing Board meeting as handle for its account-wagering service, Xpressbet, suffered an 18.4% decline among California residents during the year's first two months.
TV Games Network will continue to be distributed on the DISH Network after an agreement was reached on a four-year patent dispute between their parent companies.
Three competitors from last year's Kentucky Derby (gr. I) will meet on television Sunday when TVG screens the New Orleans Handicap from the Fair Grounds.
Youbet.com has agreed to pay TV Games Network $725,000 and withdraw its proposed staggered board and supermajority voting proxy material in exchange for TVG dropping all pending litigation and related arbitration.
Gemstar-TV Guide International announced it has named Ryan O'Hara chief operating officer of its TVG Network.
Wider distribution of TV Games Network through the nation's largest cable provider, Comcast, highlights a new joint venture between the cable company and TVG's parent company, Gemstar-TV Guide.
Jill Byrne, who has previously worked in studio and as an analyst and reporter on such TVG programming as "The Works" and "Trackside Live," will join the network as a full-time analyst beginning with TVG coverage of the Keeneland spring meet on April 2.
Blinkers Off, a weekly 10-minute segment that will preview the weekend's big races, will debut Friday on TV Games Network at 12:05 p.m. Eastern.
Mark Wilson has resigned as president and chief executive officer of the TV Games Network but will take over as chairman of the company, Gemstar-TV Guide announced Feb. 4.
Suffolk Downs hires new racing secretary, Texas Thoroughbred Association launches new web site.
Former jockey and current TVG horseracing expert Corey Black has accepted the position as agent for jockey Patrick Valenzuela effective immediately. Valenzuela and his former agent, Nick Cosato, parted ways earlier this week after Valenzuela expressed concerns over Cosato also representing Corey Nakatani.
Youbet.com and minority shareholder TV Games Network have settled an ongoing dispute by agreeing to delay court proceedings and arbitration hearings over proxy materials sent to Youbet shareholders last fall.
TVG will broadcast live from the DRF/NTRA National Handicapping Championship Jan. 23-24 from Bally's in Las Vegas.
NBC Sports has won the Eclipse Award for National Television – Live Racing Programming for its production of the 2003 Preakness Stakes, the National Thoroughbred Racing Association announced Jan. 14. Other media Eclipse Award winners were also named.
Hollywood Park brings down the curtain on its 2003 Autumn meet this weekend with a pair of races for juveniles and juvenile fillies, Saturday's Hollywood Futurity (gr. I) and Sunday's Hollywood Starlet (gr. I).
TVG network is sponsoring a "Name That Colt Contest" in which the winner will share in the ownership of the February 2002 foal who is scheduled to begin his racing career in 2004.
TVG will present live, on-site coverage of the $1 Million Delta Jackpot, the nation's second richest race for Thoroughbred juveniles, tomorrow from Delta Downs. Post time for the race, which has drawn a field of 10, is 10:52 p.m. Chris Kotulak will be on hand to cover the action for TVG.
Three applications to conduct telephone account wagering in Virginia were submitted to the state racing commission during its monthly meeting Wednesday.
TVG will provide live, on-site coverage of Cal Cup XIV from Oak Tree at Santa Anita this Saturday on "Trackside Live!: Oak Tree."
Continuing to build on its increased distribution, TVG's handle on Saturday, the day of the Breeders' Cup World Thoroughbred Championships, was $3,362,026, 31.1% higher than on Breeders' Cup day in 2002.
Youbet.comcontinued strong gains in its online horse race wagering business during the third quarter of 2003, marking the sixth consecutive quarter in which the company has produced net revenue growth. Youbet also said it substantially increased operating capacity during the quarter.
As racing interests in California continue to study pari-mutuel wagering as it relates to out-of-state hubs and offshore operations, prices paid for signals are more and more becoming the focal point.
Former jockey Corey Black wears several hats these days. He's a high-profile and well-liked racing expert on TVG. He leads the Seabiscuit backstretch tours several days a week at Santa Anita. And he's the work rider for the sometimes-troubled John Deere Breeders' Cup Turf (gr. IT) favorite Storming Home.
U.S. viewers can catch the weekend's racing action from France on either TVG or HRTV, as both will feature coverage of France's group I races.
By Graeme Beaton -- We're all after that one horse that will show them who's best! The dream of that "Big One" keeps us going.
To comply with a court order handed down Thursday, Youbet.com will delay its annual shareholders meeting so it can provide information on the ramifications of a majority buyout by Gemstar Inc., parent company of Television Games Network.
The California Horse Racing Board took a first look at the knotted issue of changing the way account-deposit wagering is conducted in the state by requiring racetrack associations -- as a condition to operate -- to negotiate agreements for handling wagers with all legal operators.
National Museum of Racing to honor Peb...NJ holds Thoroughbred Festival Sept. 20...TVG Contestants Can Win a Date with Dergen... More racing programming hits the airwaves in Baltimore...Calder gears up for Festival of the Sun and Horse Fair 2003.
TV Games Network has filed a countersuit against Magna Entertainment Corp. in the brewing battle over the right to broadcast Maryland Jockey Club racing.
TV Games Network, a shareholder in Youbet.com with an option to buy a majority interest in the company, has filed a lawsuit against Youbet for proposed changes to voting and term limits for its board of directors.
TV Games Network will offer exclusive live network coverage of the Keeneland September Yearling Sale next Monday through Wednesday (September 8-10), with reports from the Keeneland Sales Pavilion beginning each day at 1 p.m. Eastern and continuing until 7 p.m.
TVG Network reported that revenues for the quarter ending June 30 totaled $3.9 million, an increase of 82.7% over the same period one year ago. For the first six months of this year, revenues rose 91.4% from the year-earlier period to total $5.8 million.
A lawsuit against TV Games Network was filed in U.S. District Court in Baltimore by the Maryland Jockey Club for the network's inability to maintain a three-month average of $230 million in gross handle, which the suit claims is part of the contract between the two entities.
- By Ray Paulick
By Ray Paulick -- It's almost August and the racing season is in full swing as major horses prep for this fall's Breeders' Cup World Thoroughbred Championships. Thanks to TVG, you can see it all from your living room.
Highlighted by record wagering on Kentucky Derby day, TVG posted the highest quarterly handle in company history for the quarter that ended June 30.
TVG will now be available on Cox Communications digital cable service in Santa Barbara and Bakersfield, California.
Henry Yuen, the former chairman and CEO of Gemstar-TV Guide International, parent company of the Television Games Network (TVG), has been charged in a civil lawsuit by the Securities and Exchange Commission with securities fraud, lying to auditors, and falsifying the company's books.
Account-wagering providers and others in the pari-mutuel industry are working behind the scenes to remedy a situation that has kept bettors with certain credit cards from making legal Internet wagers.
The queen and king of racing Muledom are set for another match race May 23 at Los Alamitos Race Course in Southern California.
TV Games Network has reached agreements with two cable television services that will carry the 24-hour horseracing and interactive wagering network.
The TVG network reported Monday that the Kentucky Derby fueled the largest single day of wagering in the company's history. TVG handled $4,045,559 on Saturday, May 3.
TVG will re-air an original 30-minute documentary on Laffit Pincay Jr. April 30 and May 1. "Ride to the Record,˜ filmed in 1999, chronicles the life of the "world's winningest rider.˜
Bits and pieces from around the industry...
"The Works," will once again highlight the TVG pre-race coverage of the Kentucky Derby and Kentucky Oaks, both grade I. The series of eight half-hour shows will air at 11:30 a.m. (EST) beginning April 24 and continuing through May 1. The shows will be replayed each evening and prior to the following morning's telecasts.
In a deal announced April 9, Rupert Murdoch's News Corp., part owner of TV Games Network parent Gemstar-TV Guide, would acquire General Motors' stake in Hughes Electronics and another piece of Hughes from public shareholders.
A multi-year deal between the Television Games Network and the DirecTV satellite service gives the 24-hour horse racing network access to an additional 11 million homes in North America.
On Friday Keeneland's 15-day spring meet opens in Lexington. The track has some new and improved ways to watch its races, whether you're on the grounds or at home.
Gemstar-TV Guide International reported a net loss of $6.23 billion, mainly from write-downs for goodwill, for fiscal year 2002. Meanwhile, the company's interactive platform sector, which includes the TV Games Network, posted revenue gains.
TVG's weekly highlight show, "The Finish Line," begins its second season April 6 at 8 p.m. EST.
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