Thoro-Graph has filed a lawsuit against the New York Racing Association and NYRA Bets alleging breach of contract and seeking six-figure monetary damages. The underlying contract appears to be standing in the final months due to a dispute.
The suit was filed in the State Supreme Court in the District of New York seeking damages of not less than $500,000.00, including actual damages in excess of $333,000.00 to date, payment pay for 50% of profits from betting and attorney fees.
Thoro-Graph, known for Sheets advertising Thoroughbred race speeds and positioning value in upcoming races, partnered with NYRA and NYRA Bets in March 2017 to engage customers. outside of New York sign up and bet on NYRA’s pre-deposit betting platform, NYRA Bets.
Thoro-Graph accused the joint venture of going in the wrong direction. The lawsuit, filed December 19 and first reported by the Thoroughbred Daily News, alleges the NYRA defendants committed a serious breach of the joint venture. Net revenue derived from what the complaint calls “qualified bets” is the subject of the dispute set forth in the claim.
The complaint alleges more than $100 million in betting settlements generated through 2022 “through the joint venture alone, resulting in $3 million in revenue for NYRA defendants and approximately $2 million for wallets.” .” Thoro-Graph looks for damages when their share goes up to 50% of that revenue and claims that they asked for payment “only to be denied with a threat to terminate the venture” by NYRA— a threat that, according to the complaint, has materialized.
The complaint only covers one side of the case, and the NYRA defendants are not required to respond to the charges until February. Based on the language in the complaint, at least part of the dispute appears to arise from expense deductions known as import storage fees or storage tracking fees charged by the NYRA.
According to the complaint, the NYRA responded on December 12 to many of Thoro-Graph’s payment requests by providing a 180-day notice of the parties’ termination of the agreement, effective June 10. Thoro-Graph states that the settlement “requires NYRA defendants to continue to pay Plaintiffs in full for the next six months of 2023 (or the remainder of the term of the current Agreement), and thereafter) that pays at 50% for an additional second six-month period in 2024.”
Pending a response in court, the NYRA said through spokesperson Pat McKenna on January 13, “NYRA will honor the terms of confidentiality agreed to by the parties involved and respond to the court by January 10.” February. This contractual dispute does not and will not affect NYRA customers.”
Attorney Karen Murphy filed a complaint with Thoro-Graph, whose chairman is Jerry Brown. Brown is also known as an advisor to the purchase and management of racehorses including Horse of the Year Rachel Alexandra, two-time Breeders’ Cup Da Hoss champion and multiple 1st place Victory Gallop winners.
