TVG Ends Talks To Simulcast Races At CDI-Owned Tracks
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TVG Cuts Off Negotiations
With Churchill Downs Inc. |
TVG is “cutting off negotiations with Churchill Downs Inc. [CDI] over new
contracts to carry the company’s races,” according to Gregory Hall
of the Louisville COURIER-JOURNAL. The net said that it will “devote more
programming, production and promotions to non-Churchill tracks, citing [CDI’s]
downsizing.” TVG GM David Nathanson in a statement said, “We were
seeing continued growth in our television distribution and account wagering handle,
as [CDI] continued to divest of racetrack properties, diminishing its importance
to our business.” TVG said that wagers by its subscribers on CDI races have
“dropped under 13[%] from more than 30[%] of its total wager.” Hall
notes CDI officials recently “expressed frustration over” their relationship
with TVG and told investors “that they are re-examining how the company
approaches account wagering.” CDI has “not elaborated on what form
that would take.” CDI Chief Development Officer Bill Carstanjen in a statement
said, “We are fully exploring our options going forward with regards to
television and account-wagering rights.” TVG said that it will continue
showing races from CDI tracks “until those individual contracts expire”
(COURIER-JOURNAL,
2/16).
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