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Contract Impasse Will Prevent TVG/FanDuel Spa Wagering



Contract Impasse Will Prevent TVG/FanDuel Spa Wagering

A New York Racing Association spokesperson said July 10 that as of 5:30 p.m. there had been no movement in stalled contract negotiations with TVG/FanDuel and that the major advance-deposit wagering company would not be accepting wagers on the opening-day July 11 card at Saratoga Race Course.

TVG/FanDuel has been unable to handle wagers on NYRA races since July 4 due to an inability to agree on the financial terms of a new wagering contract.

The two sides talked Wednesday, but it failed to resolve the impasse.

“Despite NYRA’s best efforts, TVG/FanDuel has been unwilling to negotiate on the terms of a new contract. As a result, pari-mutuel wagering on the summer meet at Saratoga Race Course will not be available on TVG/FanDuel platforms when the meet opens Thursday. As a not-for-profit franchised by New York State, NYRA’s core mission is to conduct world-class Thoroughbred racing for the benefit of the state’s economy while creating opportunities for horsemen and breeders to compete for robust purses and awards 12 months a year. To fulfill that mission, NYRA will continue working to achieve an equitable resolution to this impasse,” said Pat McKenna, NYRA’s vice president of communications. “This has nothing to do with NYRA’s bottom line. Rather, it is about gaining fair compensation to support the trainers, breeders, owners, and others who make racing possible in New York. Accordingly, NYRA has offered TVG/FanDuel the exact same rates that were in effect under the prior contract in every state except for New York.”

In response, Andrew Moore, general manager of racing for FanDuel Group, said TVG/FanDuel was fully prepared “for the eventuality that we will not have the Saratoga content.”

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“This situation is bad for almost everyone—us, NYRA, and fans. In an era when people have more content than ever to bet on, it’s not optimal that the largest distributor of horse racing content and sports betting isn’t able to offer NYRA’s content to its customer base. No one is winning here and hopefully we can have this content back available to TVG and FanDuel Sportsbook customers very soon. But the business terms have to make sense or else we put at risk our ability to continue our significant investment in marketing, promoting and televising racing,” Moore said. “As always, we will endeavor to give our customers the best possible experience with the content that we have. Not having Saratoga will be very disruptive to their experience. That said, we are fully prepared for the eventuality that we will not have the Saratoga content. That was our expectation when we didn’t agree to the new terms NYRA is proposing. We’re not seeking better terms than our prior agreement.”

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