LEXINGTON, Ky. (Thursday, April 23, 2015) – The National Thoroughbred Racing Association (NTRA) Board of Directors today approved the association’s audited financial results for the fiscal year concluding January 31, 2015, which reflect net revenues of $190,340. The results continued a positive trend for the third year in a row. The previous fiscal year reflected net revenues of $667,477. Today’s action took place during the Board’s regularly scheduled second-quarter meeting.
“The positive financial results for a third consecutive year confirm that we are on the right track with our efforts to build a more relevant, sustainable organization,” said NTRA President and CEO Alex Waldrop. “Going forward, we will continue to create value for our members and for the racing industry as a whole through consensus-based leadership, safety and integrity initiatives, legislative and governmental advocacy, corporate partner development and fan engagement.”
The complete NTRA financials and the company’s annual report will be released in early June.
In other action, the Board:
- Unanimously approved the promotion of Keith Chamblin to Chief Operating Officer. Chamblin will now work with every department to improve operational and financial performance, while continuing to directly oversee marketing and industry relations.
- Received an update on NTRA-led efforts asking the U.S. Treasury and Internal Revenue Service (IRS) to modernize tax regulations relating to withholding and reporting of winning pari-mutuel wagers. The NTRA has created a simple, customized message (at www.NTRA.com/IRScomment) for individuals to submit a comment directly to the Treasury and IRS between now and the June 2 deadline.
- Was briefed on industry-wide efforts to pass the National Uniform Medication Program (NUMP) reforms, including an update on Florida where recently both houses of the legislature unanimously passed enabling legislation that could lead to the adoption of the NUMP by the end of the year.
- Received updates on the Safety and Integrity Alliance, National Handicapping Championship, Communications, NTRA Advantage and other legislative advocacy in Washington, D.C.
The next regularly scheduled meeting of the NTRA Board of Directors will be Aug. 21 at Del Mar Thoroughbred Club near San Diego, California.
About the NTRA
The NTRA is a broad-based coalition of more than 100 horse racing interests and thousands of individual stakeholders consisting of horseplayers, racetrack operators, owners, breeders, trainers and affiliated horse racing associations, charged with increasing the popularity, welfare and integrity of Thoroughbred racing through consensus-based leadership, legislative advocacy, safety and integrity initiatives, fan engagement and corporate partner development. The NTRA owns and manages the NTRA Safety and Integrity Alliance; NTRA.com; the NTRA Top Thoroughbred and NTRA Top 3-Year-Old weekly media polls; the Eclipse Awards; the National Handicapping Championship; NTRA Advantage, a corporate partner sales and sponsorship program; and HORSE PAC, a federal political action committee. The NTRA has offices in Lexington, Ky., and New York City. NTRA press releases appear on NTRA.com, Twitter (@ntra) and Facebook (facebook.com/1NTRA).