The NTRA is "tightening its belt and attempting to
mollify its critics" by approving a $30.7M operating budget
for 2000 and setting up a task force "to reduce the
restrictions governments place on the racing industry,"
according to Matt Hegarty of the DAILY RACING FORM. The
NTRA board approved the budget and task force at its
quarterly meeting last week in FL in an attempt to "chart a
course for what many industry officials believe will be the
NTRA's most critical year." The budget is "roughly" 25%
lower than the NTRA "expected" to spend in 2000 at the time
of its formation. But NTRA directors said that the
organization has "fallen short of its projections in two
areas -- sponsorship revenues and interactive wagering
revenues -- necessitating the revision." The NTRA has
"earmarked" $2.2M of the budget to "reduce its operating
deficit," which stood at $2.9M on March 31, 1999, according
to financial statements. The NTRA said it would spend $19M
on advertising and TV, and that "total spending" on
advertising would reach $27M in 2000. The NTRA also
announced that Senior VP/Business Affairs Greg Avioli has
been promoted to Deputy Commissioner and COO, replacing Joe
Bailey, who left the organization (DAILY RACING FORM, 2/20).
