07/01/2007 11:00PM

Positive revenue for NTRA


The National Thoroughbred Racing Association had an excess of $2.3 million in operating revenues compared to its operating expenses in 2006, according to financial statements recently released by the association.

Operating revenues in 2006 were $74.1 million, compared to operating expenses of $71.8 million, according to the statements. Last year, operating revenues were $77.7 million and operating expenses $73.5 million.

During 2006, the NTRA amended an operating agreement with its partner, Breeders' Cup Ltd., and cut its member dues for racetracks and horsemen's associations while eliminating a co-op advertising program. In 2006, according to the statements, revenues from membership dues were $10.3 million, compared to $17.3 million in 2005.

Keith Chamblin, an NTRA vice president, said that in 2005 the NTRA recorded $5.7 million to racetracks out of the membership revenues in order to fund the co-op advertising program. Because the program has been eliminated, revenues from members was actually down $1.2 million, or approximately 12 percent, even though the NTRA cut dues by 25 percent across-the-board effective last year.

The elimination of the co-op advertising program was part of a strategy by the NTRA to focus more on legislative and public-relations work. In 2006, advertising and marketing expenses was $10.3 million, down from $18.1 million in 2005.