Technology

TVG Sets Wagering Marks

11/15/2005 6:25 AM Eastern

TVG Network Tuesday announced record wagering results for the recent Breeders' Cup World Thoroughbred Championships and the third quarter of 2005.

The Gemstar-TV Guide International Inc.-owned horse-racing network said its viewers wagered $5,396,978 Saturday, Oct. 29, marking a record amount for the Breeders' Cup and a 29.9% increase over last year's event.

TVG added that it processed $119.8 million in wagers from its customers during the third quarter, representing a new quarterly record and a 32.1% jump from the prior-year period.

“We are pleased that TVG's cable and satellite interactive-TV applications are gaining acceptance, providing value to our customers and revenue for our cable and satellite distributors," senior vice president and general manager David Nathanson said in a prepared statement.

“The network's interactive-TV applications are a key product differentiator for TVG in the marketplace and a great way for distributors to retain and attract subscribers with value-added products and services,” he added.

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