01/11/2002 12:00AM

New deal for TVG and NTRA

Email

NEW YORK - The National Thoroughbred Racing Association and Television Games Network have renegotiated an agreement in which the NTRA received a portion of money wagered through the network.

Officials would not discuss details, but the percentage that the NTRA receives was expected to be cut. Under the previous agreement, the association received 0.75 percent of each dollar wagered.

A revised business plan announced by the NTRA late in 2001 said that the association expected to receive 0.5 percent of wagering revenues from "member-generated interactive fees" over the next five years. TVG is the NTRA's only interactive member. The previous agreement required the NTRA to act as TVG's account-wagering hub operator, which became an issue of contention among many NTRA members. As a result, the NTRA handed the hub operations to TVG last year.

The NTRA received $250,000 from TVG last year, the minimum required under the previous agreement.