02/07/2017 4:34PM

Betfair US rejoins NTRA


Betfair US, the owner of Television Games Network and a New Jersey exchange-wagering operation, has rejoined the National Thoroughbred Racing Association as a dues-paying member, and its chief executive will take a seat on the association’s board, the NTRA announced on Tuesday.

Kip Levin, the chief executive of Betfair US, will join the board after a ratification vote at the NTRA’s April meeting for a three-year term, according to Keith Chamblin, an NTRA senior vice president.

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TVG, which was bought by the British exchange-wagering company Betfair in 2009, has not been a dues-paying member of the NTRA since 2013. Betfair, which launched its New Jersey exchange-wagering platform last year under the Betfair US brand, also recently merged with Paddy Power, a British bookmaker.

Over the past several years, the NTRA has aggressively pushed for changes to the tax treatment of gambling winnings, an effort that, if successful, could have a dramatic impact on TVG’s account-wagering operation. The changes are expected to be formally approved later this year, barring an unforeseen event.

“We welcome the participation of one of the largest [gambling] operations in the world,” said Chamblin.