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TVG, Prairie Meadows & Iowa HBPA Strike Innovative Long-Term ADW and Marketing Partnership(February 07, 2012)
LOS ANGELES, CA and ALTOONA, IA -- (Marketwire) -- 02/07/12 -- TVG, America's Horseracing Network, has announced today that it has reached an agreement to operate a co-branded Advanced Deposit Wagering (ADW) system on behalf of Prairie Meadows Racetrack and Casino and the Iowa Horsemen's Benevolent & Protective Association (IA HBPA). TVG and Prairie Meadows will extensively market each other's products and services, including ADW and live racing conducted by Prairie Meadows.
The agreement follows the enactment of Iowa legislation in 2011 specifically authorizing ADW in Iowa and the completion of the regulatory process by the Iowa Racing and Gaming Commission. As part of that process, Prairie Meadows and the IA HBPA announced that they would jointly seek an operator for an ADW system.
The ADW system will utilize TVG's state-of-the-art TVG 3.0 technology, which was launched nationally in January 2012. The technology offers full ADW features and functionality including free handicapping information, TVG Wager Rewards and premium video streaming, and it will contain elements specifically tailored to promote Prairie Meadows' horseracing and casino businesses.
"We are very excited about this new venture," said Gary Palmer, Prairie Meadows President/CEO, "and we look forward to this opportunity to partner with the Iowa HBPA and TVG in helping us to promote our live Thoroughbred and Quarter Horse products through advance deposit wagering."
Leroy Gessmann, President of the IA HBPA, stated, "This venture is a testament of our ability to work together as a racetrack and horsemen's group, and bring in Paladin Partners to consult with us and help choose the best ADW provider -- and that is TVG. I look forward to the launch of the new site, as many horsemen and fans have expressed to me as well."
"This is a very unique deal for several reasons," said Stephen Burn, TVG's CEO. "First, it is a prime example of TVG partnering with a racetrack partner and its horsemen on both a business-to-business as well as a business-to-consumer approach. Second, each group has pledged to leverage its strengths to maximize the overall business, with TVG utilizing its television and digital presences and Prairie Meadows utilizing its significant physical presence in the state of Iowa."
Added Burn, "Additionally, it is a fine example of a racetrack, a horsemen's group and an ADW provider working cooperatively together from the outset to maximize the business -- a forward thinking approach that we hope to see replicated in other jurisdictions."
Prairie Meadows, located in suburban Des Moines, Iowa, operates two live race meets per year, one for Thoroughbreds, the other for Quarter Horses. The 2012 Thoroughbred meet is slated for April 20-August 11. Prairie Meadows Quarter Horse meet follows from August 17-October 27 and is highlighted this year by the American Quarter Horse Association's Bank of America National Challenge Championships on October 27. Prairie Meadows has given more than $1 billion through taxes, grants and charitable donations to the state of Iowa. More than $513 million of that figure has remained in our community to promote education, economic development, agriculture, jobs and tourism.
The Iowa Horsemen's Benevolent and Protective Association (IA HBPA) is a member of the National HBPA. Today there are over 35 thousand (35,000) owner and trainer members throughout the United States and Canada focused on a common goal, the betterment of horseracing on all levels.
TVG, a subsidiary of Betfair Group Ltd, the premier e-gaming betting community, is among the most widely distributed horseracing networks in the world. TVG is one of the largest legal online gaming companies in the US, accepting over $600 million in wagers in 2010. The company has demonstrated its commitment to the racing industry, its owners, tracks and fans through sponsorship of several preeminent races including the TVG Breeders Cup Mile and the TVG Pacific Classic. TVG viewers in certain areas can wager interactively on races via telephone, the Internet, TVG Mobile or Interactive Television by establishing a wagering account online at www.tvg.com or by telephone at 1-888-PLAY-TVG.
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