GMA-Manila Jockey Deal

Manila Standard Today

February 8, 2011

GMA New Media Inc. a unit of GMA Network Inc. has formed a joint venture with Manila Jockey Club Inc. to expand the reach of off-track betting.

GMA New Media will provide the technology to make horse-racing betting available over the internet and mbile phones while Manila Jockey will allow patrons to place bets online or via text message.

People can begin betting via a new platform by the middle of this year, New Media president and chief operating office Judd Gallares said in a statement.

New Media’s parent firm GMA Network and Manila Jockey will invest P10 million each for the new venture.

GMA Network chairman and chief executive Felipe Gozon said during the signing of an agreement Friday that the infusion of technology would give bettors convenience on horse-racing games.

Gozon added that options to bet on horse-racing games had became popular due to the advances in technology, such as mobile productivity internet and multimedia tools.

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