FanDuel and the New York Racing Association (NYRA) have reached a resolution in their contract dispute.
FanDuel and the New York Racing Association (NYRA) have reached a resolution in their contract dispute.
The agreement will allow pari-mutuel wagering on the NYRA’s live racing content to return to FanDuel’s online betting platforms.
It follows news earlier this month that a contractual impasse had resulted in all NYRA content being removed from the Flutter-owned platforms.
FanDuel general manager, racing, Andrew Moore said: “We are happy to have reached a multi-year agreement with the New York Racing Association and to extend our 24-year wagering partnership.
“We look forward to the Saratoga meet and beyond and to supporting the good work of the NYRA Foundation.”
As part of the deal, FanDuel will make a “sizeable” contribution to the NYRA Foundation to support non-profit racing organisations.
NYRA chief revenue officer Tony Allevato added: “We are pleased to have reached a resolution that will allow FanDuel/TVG customers across the country to wager on NYRA racing now and moving forward.”
“In accordance with the goals stated at the outset of this process, NYRA will be dedicating significant funding to support New York’s horsemen and strengthen the state’s thoroughbred racing ecosystem.”
Fees dispute leads to contractual impasse
FanDuel’s previous contract with NYRA ended on 1 July, with NYRA opting to axe its content from the brand’s platforms from 4 July.
The parties came to loggerheads over the association’s attempt to increase its fees on bets during its contract renewal.
The decision came just ahead of the summer racing season, days before the Saratoga meet, one of the most popular racing events in the state.
Allevato said at the time: “NYRA provides the racing content that fuels the profits of out-of-state ADWs like TVG/FanDuel.
“NYRA must prioritise the overall health of the sport and broader industry here in New York and we will continue negotiations to seek an equitable resolution so that our racing is widely available nationally.”
TVG is an online horse racing content and parimutuel betting platform and was acquired by Flutter’s predecessor Paddy Power in 2009.