08/07/2008 11:00PM

TVG revenue down for quarter

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Revenue for Television Games Network in the second quarter of 2008 was $13 million, a decline of 13 percent compared with revenue of $14.7 million in the second quarter last year, according to financial documents released Thursday by the account-wagering company's parent.

TVG, the leading national account-wagering company in the United States, had revenue of $21.6 million for the six months of 2008, according to the documents from Macrovision, which purchased TVG when it merged with TVG's former owner, Gemstar-TV Guide, late last year. The 2008 revenue figure is down 17 percent from revenue in the first six months of last year.

Macrovision did not release profitability figures for TVG.

Earlier this week, Youbet.com, a competitor of TVG that has agreements with the company to offer wagering on the signals that TVG controls, said that it was exploring a merger with TVG.