TVG, a subsidiary of Betfair Group plc, has completed the acquisition of the Stronach Group's HRTV horse racing television network.
The initial consideration of $25 million may increase to $47.8 million over the next seven years.
As per the acquisition, TVG will have the television rights to the Stronach Group's Santa Anita, Gulfsteam Park, Golden Gate Fields, Laurel Park and Pimlico racecourses for seven years.
Breon Corcoran, chief executive officer of Betfair said: “This deal strengthens TVG's position as a significant player in the US horseracing industry, bringing together the US' leading racetracks under a single TV network for the first time.
“The enlarged TVG operation will now show the most exciting racing action globally whilst offering a world-class betting experience. We believe this is a very compelling proposition for our customers”.
sharpe
9 years ago
The Horse racing is an exiting and traditional sport and a fun way to gamble, unfortunately in my country it is not very popular and you can't see any live races. I enjoy to risk a few euros from time to time and with the popularity that Betfair has all across the world this could make this sport more popular.
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Shumar4life
9 years ago
I love horse racing, and I believe that this sport is one of the most interesting for betting right now. So I am not suprised with the fact that Betfair bought tv rights for this races, and this will benefit their horse racing offer that is for sure. It would be nice ito see would they post races on the site to watch
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