03/05/2015 12:54PM

TVG posts higher revenue in most recent quarter


Revenue from Television Games Network was up 17 percent in the third quarter of fiscal year 2015 compared with the same quarter last year, according to TVG’s parent company, Betfair.

Although Betfair did not disclose an exact revenue figure for TVG, the company said that total revenue from its U.S. operations, which includes an online casino in New Jersey, was $20.5 million in the third quarter, compared with $15.8 million in last year’s third quarter, an increase of 30 percent.

Betfair is based in Britain and runs the largest exchange-wagering platform in the world. Its third quarter ended Jan. 31, several weeks prior to the company reaching a deal to buy TVG’s live-broadcast competitor, HRTV. Betfair paid $25 million initially for HRTV, and the company expects to pay an additional $48 million over the next seven years in rights fees for signals from tracks owned by HRTV’s parent, The Stronach Group.

In total, Betfair had $174.2 million in third-quarter revenue from all of its operations, including Betfair U.S. That figure was 20 percent higher than the comparable quarter last year.

The company did not disclose a net-income figure for the quarter.

Juanald More than 1 year ago
I can't take the commentators on TVG - I wish there was just a racing channel with races and no BS talk from wannabes.
Anonymous More than 1 year ago
High revenue, low quality, that's TVG. They're the CDI of racing on TV.
John Stevelberg More than 1 year ago
TVG could do better if they would "cull" out some of the on air talking heads when their contracts expire.
Ian GW More than 1 year ago
Guess impasse is doing it's job.
Pauly Patane More than 1 year ago
Ray, you bet Delta Downs. Might as well pull your car over, throw some dice against the alley on 3rd Street and see if you get on a run of clean rolls. Delta D, come on. They have horses that are 2-23 that go off 3-5, and win by 7.
Ray Sousa More than 1 year ago
could drf comment on what happened at DELTA DOWNS last night Wednesday ..in the 4th race i hit the superfecta the exacta and trifecta. After the numbers where posted DELTA DOWNS announced a tote malfunction (something i have seen before many times).the difference here was that after 20 minutes or so they announced that they were refunding and declared the race a non race..so basically they screwed up and the bettors get screwed again.nothing unusual happened during the running and ive seen tote issues get resolved and the winners paid.so im wondering what happened here.
mikey More than 1 year ago
Welcome to the world of racing.They have all the rights.The only right we have as a player is the making of a bet.
Mike C More than 1 year ago
Ray I got screw too. Had a twenty dollar exacta that would have paid a sweet 700 only to find that out 20 minutes later that the race was declared a no contest. I'm looking for an explanation other than a tote board malfunction.