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TVG takes over horse races on TV

03/04/2015

TVG took over the operation of HRTV last month of February. The industry received the public announcement from both, Betfair and The Stronach Group. This merger has brought together the two the main competition on broadcasting horse races. TVG will take care of the operations of HRTV from the TVG Studio compound located in Los Angeles. The new TV programs will bring us races from Santa Anita Park, Laurel Park, Pimlico Race Course, Gulfstream Park, and Golden Gate Fields for a period of seven years, as well as the most traditional events, both domestic and international. Betfair will have to make a total payment of $47.8 million over the seven years the agreement is on, paying initially a sum of $25 million. The two TV networks are joining forces for us to be able to watch practically everything in just one TV channel, avoiding scheduling conflicts. TVG will be streaming approximately 40,000 races per year. The unified television, once fully owned by BetFair, will become the most important TV horse races broadcast in the world distributed via Cable, Satellite, and Telco.

TVG's CEO, Kip Levin, said: "This is a very exciting step for TVG and HRTV as it enhances our ability to deliver premier horseracing content to our viewers, to show more races and to promote racing in the U.S. With our recent investment in our new, state of the art HD studios now complete, we are pleased to expand our coverage of The Stronach Group tracks as part of a unified TV platform. This agreement is part of TVG's commitment to deliver the very best in U.S. racing, to generate incremental wagering on our advanced deposit wagering platform and, to drive additional advertising and distribution opportunities". Alon Ossip, CEO of The Stronach Group, said: "Combining the significant investments we have made in our facilities and racing content with TVG's significant investments in television technology and distribution is the best way forward for ensuring a world class experience for all of our important customers and our fellow stakeholders in racing".

 
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