Greenwood Racing Inc., which owns Philadelphia Park, will launch "The Racing Network" a multi-channel subscription racing television service September 1.
The network will offer regional, national and international coverage of thoroughbred, harness, quarter horse and greyhound racing through satellite technology.
As for specifics, Philadelphia Park CEO Hal Handel said, "They will be dictated by the industry."
Greenwood has a five-year contract for satellite transponder time adequate to support up to 14 signals, and it is contemplated that eight of the 14 will carry live racing while six will provide betting and handicapping information. Track signals will be distributed worldwide through small-dish satellite technology and the track's PhoneBet system will be used as a telephone wagering hub with a $15 or $20 subscription fee.
Handel said the Racing Network was not designed to compete with either ODS, which hopes to air its Television Games Network by year's end, or You Bet, which is testing a computer-based interactive service and signing up as many tracks as it can to non-exclusive contracts. Handel said the Greenwood operation also will be non-exclusive, and that, "we'd be perfectly willing to pursue any strategic partnerships or any other betting platform."
He also said the traditional three percent share of gross handle to sending tracks would have to be modified to entice tracks to join. "The economics are going to have to work out differently," he said. "The return to tracks is going to have to be significantly higher than the traditional structure. You want them to be enthused, not just, 'Gee, my signal's out there.'"