Betfair Enter US

Betfair today announced a US$50M deal to acquire the TV Games Network (TVG) which allows, this European based operator, legal entry into the US betting market.  TVG is the official interactive and TV bettng partner of the National Thoroughbred Racing Association and it's one of the most prolific horseracing networks in the World.

Gerard Cunningham the President of Betfair U.S, said: "We are tremendously excited to be the new owners of TVG and look forward to building upon the worldwide experience of Betfair to help grow the business.

"We believe the TV Games Network to be the premium product in the sector, with exceptional staff and loyal customers, and we look forward to working with the horseracing industry to help promote this great sport."

David Yu, CEO of the Betfair Group commented that the operating strength of TVG in the US and its values were at the forefront of Betfairs thinking when taking them over, adding that the two companies shared the same ethics and values. 

"We have waited to enter the US market until we had a high quality, and above all, legal product offering, and we believe with this acquisition we have secured those goals," he said.

Betfair also operate Betfair Casino and Betfair Poker ahtough currently not to US players.

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