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.
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.