The National Thoroughbred Racing Association has largely credited its NTRA Advantage program for a $3.1-million revenue surplus for 2007.
The NTRA board of directors met April 11 in Lexington. It discussed audited financial statements that show revenue over expenses of $3,186,974, up from a projected $2.9 million, according to a release.
The 2008 NTRA operating budget was approved at the December meeting of the board of directors.
“The strong 2007 results were largely related to the performance of NTRA Advantage partners,” NTRA president and chief executive officer Alex Waldrop said in a statement. “The NTRA’s financial picture is stronger than at any time in the association’s history, and has allowed us to become less reliant on member dues as other sources of revenue are identified and generated.”
The board also received updates and reports on a number of programs and initiatives, including:
+ legislative activities and the planned April launch of the NTRA Horseplayers’ Coalition to provide grassroots support on Capitol Hill;
+ NTRA Advantage programs, which offer member discounts and benefits in various product categories;
+ integrity initiatives ranging from the use of steroids in horse racing, model medication rules and penalties, and wagering security;
+ marketing programs including the National Handicapping Championship Tour; a recently launched Web 2.0 social networking initiative; and a proposal to coordinate and launch a national wager this summer;
+ preliminary discussions related to the NTRA’s 2009 television strategy.
The next regularly scheduled meeting of the NTRA board of directors is scheduled for June 5.