The National Thoroughbred Racing Association (NTRA) Board of Directors today approved the association’s audited financial results for the fiscal year concluding January 31, 2016, which showed positive net revenues for the fourth consecutive year. A not-for-profit coalition of horse racing interests, the NTRA reported net revenues of $43,393 for Fiscal Year 2016. Today’s action took place during the Board’s regularly scheduled second-quarter meeting.
“We thank the more than 100 organizations and thousands of individuals, including horseplayers, who participate in NTRA programs and initiatives every year,” said NTRA President and CEO Alex Waldrop. “We are more committed than ever to effecting positive change in the breeding and racing industry through consensus-based leadership, safety and integrity programs, legislative and governmental advocacy, corporate partner development, and marketing and communications support.”
The complete NTRA financials and the company’s annual report will be released in early June.
Also during Thursday’s meeting, the NTRA presented a plan to grow the Daily Racing Form/NTRA National Handicapping Championship (NHC) to a $5 million purse within a few years. This year the NHC awarded more than $2.75 million in cash and prizes between the NHC finals in Las Vegas and the yearlong NHC Tour.
“We believe there is tremendous potential to grow the NHC even further and to use it as a vehicle to promote racing’s core product of pari-mutuel wagering to a wider audience,” said Waldrop.
In other action, NTRA Charities authorized the contribution of $10,000 to the Grayson-Jockey Club Research Foundation in memory of Ogden Mills “Dinny” Phipps, recognizing his many contributions to Thoroughbred breeding and racing, including his service as a founding member of the NTRA Board of Directors.
The NTRA board also received updates on the NTRA Safety & Integrity Alliance, NTRA Communications, NTRA Advantage and legislative advocacy in Washington, D.C. The next regularly scheduled meeting of the NTRA Board of Directors will be August 11 in Saratoga Springs, N.Y.