The deal includes source-market fee payments to Emerald Downs for wagers made through TVG by Washington residents. TVG received a license from the Washington Horse Racing Commission earlier to become the first authorized account wagering provider in the state of Washington.
"We are confident that TVG, with a unique combination of our services and source-market fee revenue-sharing program, will provide the same benefits to the Washington racing industry that we have provided in states like Kentucky, California, and elsewhere," TVG president Ryan O'Hara said.
In March, the Washington state legislature enacted a bill that was subsequently signed into law by Gov. Gary Locke April 1. It authorized the racing commission to license account wagering companies that have an agreement with Emerald Downs to accept wagers from Washington residents.
"We reviewed all of the account wagering companies and found TVG's package of services and economic model to be the best fit for Emerald Downs," said Ron Crockett, president of Emerald Downs.