Nicholas Rhodes, president & CEO of Casino & Gaming Television Network

This is a partial transcript from Your World with Neil Cavuto, October 27, 2003, that was edited for clarity.

Watch Your World w/Cavuto weekdays at 4 p.m. and 1 a.m. ET.

BRENDA BUTTNER, GUEST HOST: They say it's a channel devoted to young males. No, I'm not talking about Spike or Playboy or even the sports channels. I'm talking about CGTV, the Casino and Gaming Television Network that's planning a late 2004 rollout.

Joining me now is the president and CEO, Nicholas Rhodes, one of the people behind Speedvision and the Outdoor Life Network.

Thanks so much for joining me, Nicholas.


BUTTNER: So you're betting on a late next year rollout. How's it looking?

RHODES: Yes, for fourth quarter of 2004. It's looking very good. The channel's been in development for over a year in the research and development phase. The two individuals who founded the channel... have a background in investment banking and financial services and saw an opportunity for a huge enthusiast audience that wasn't being served with an equivalent cable channel for their interest, and I was brought in to try and put the team together and put the channel to air.

BUTTNER: Okay. I gamble occasionally, not all the time, but I mean -- I'd rather be playing blackjack than watching other people play blackjack.

RHODES: Well, I think you're probably right. I think the majority of people would agree with you. And it's important to point out that gaming will be a portion of the programming on the air, but only a small portion. It's much broader than that.

You know, the gaming lifestyle is really what this channel is about, and that will include, of course, casino games, which are primarily instructional how-to and news and information programs. But it's also going to include sports wagering, fantasy sports, entertainment, tournaments and events, and of course, recreation.

[Some] 65 to 75 cents on every dollar spent in these gaming destinations is spent on activities that's other than at the tables. So it's a broad audience that appreciates all of the activities available to them in these destinations, not just playing cards.

BUTTNER: So when you say tournaments, will the viewers actually be able to engage in contests? Is that what happens?

RHODES: No, this will be truly passive viewing of tournaments that we'll be carrying to air. I'm sure you're familiar with the World Series of Poker and some of the other gaming tournaments.

BUTTNER: Right. No, that's very popular.

RHODES: Extremely popular. In fact, it's the highest rated program on the Travel Channel right now. So we will be trying to use a similar formula to attract viewers to those types of events.

BUTTNER: And you will teach people how to learn craps or...

RHODES: Absolutely.

BUTTNER: ... roulette?

RHODES: Yes. Well, there's a lot of complicated games out there, and I think a lot of enthusiasts go to these places and really don't know how to do half of the games and don't really want to try and learn them in the casino. So instructional and how-to programming will be part of the menu, and we will be doing that for virtually every game that's available to play.

BUTTNER: Now gambling can be an addiction.

RHODES: Yes, there's no question that this is a subject matter that has addictive behavior behind it, in certain small instances, and I think we have to be very responsible relative to that. It's our intent to put public service announcements on as well as specific programming to make sure that those individuals who could have a problem are able to find help.

BUTTNER: Yes. So you are well aware that you might be encouraging an addiction and have to be careful to do something to allay that?

RHODES: Well, absolutely, and I think the -- the encouragement part it -- I'm not so sure -- we just have to be responsible, as I said, and we have to make sure that there is information available to those individuals who need help. This is an enormous industry, and the American Gaming Association has done a good job of providing venues for those individuals as well, and they embrace that.

BUTTNER: All right. We'll, good luck to you and thank you.

RHODES: Well, thank you very much.

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