12/02/2002 12:00AM

TVG handle growth slows down

Email

Handle growth through Television Games Network slowed substantially in the third quarter as compared with the second quarter, according to figures provided to regulators in Oregon, where TVG's betting hub is based.

Third-quarter handle was $49.3 million, compared with $47.9 million in the second quarter, an increase of 2.9 percent. In the second quarter, handle had ballooned 199 percent from $16 million.

Most of TVG's most popular racetracks do not run live in the winter, partially accounting for the strong handle growth rate from the first quarter to the second. Last year in the third quarter, betting through TVG was $12.4 million.

Handle through Youbet.com, which is a partner of TVG, was up 43.9 percent in the third quarter, from $26.4 million to $38 million. Youbet has an agreement with TVG that gives the vast majority of revenue from bets on TVG's partner tracks to TVG.