Miller’s Post Time off-track betting parlor of Bangor and Bangor Historic Track reached an agreement on Friday that stops BHT’s simulcast application and revives Miller’s payments to BHT.

With a signature, a handshake and a promise of cooperation, the six-month-old controversy that threatened both the stability of the OTB and the Bangor racetrack’s future ended amiably.

“We’re happy with it,” said Fred Nichols, general manager of BHT, operators of Bangor Raceway for the past five years. Nichols said Friday’s agreement was reached after a long bargaining session in which a number of issues were covered and resolved.

John Miller, owner of Miller’s Post Time OTB, said it was never Miller’s intention to break the contract with BHT.

“Bangor Historic Track did not handle one of the original contract items properly and as a result of this error, a new and fair contract has been established so that there should be no future disputes,” he said.

Miller said it was unfortunate that it took so long to iron out the disagreements, “but I’m very happy we can both shake hands and work together more closely to help this industry in providing more benefits for all concerned and protection for each other.”

Miller said he was planning to expand his OTB, but needed the written assurance of no simulcasting against him before he could make a major financial commitment.

“The population in the greater Bangor area is just large enough to sustain two betting interests,” he said.

Miller’s agreed to continue their financial support of Bangor Raceway through their OTB’s pari-mutuel handle (more than $90,000, annually) and will also continue to supplement purse money for special weekly races at the track.

In assessing the agreement, Nichols said, “Basically, the agreement states that we will receive all the past payments due and have the original percentages restored.”

Also, according to Nichols, any future payments will have a minimum guarantee and BHT reserves the right to simulcast if payments are ever stopped again or if the payments fail to achieve a minimum amount. Miller’s agreed not to contest it.

Miller’s OTB major point of contention, according to Nichols, was the lack of protection they had against BHT arbitrarily initiating a new simulcasting location against them. The new agreement now protects Miller’s against a simulcasting location under the grandstand at Bass Park.

Nichols’ investment group will hold a 35-day extended race meet at Bass Park this summer. Tonight, Nichols goes before the Bangor City Council seeking to have BHT’s lease agreement with the city approved. Nichols said he will also withdraw his simulcast license application now pending before the Maine State Harness Racing Commission meeting in Augusta and keep only his 35 live race days at Bass Park.

Nichols said his immediate plans for Bangor Raceway will be to talk to area businessmen to solicit help in promoting some of the badly needed improvements in the grandstand area that will help Bangor State Fair and the race meet. Nichols said the major renovations would include complete new bathrooms and cosmetic structural repairs to the back of the grandstand.

“It would be nice if some of that improvement money came from city-minded, corporate contributions,” Nichols said. “But right now, I’m glad to be back in the horse-racing business and have it stabilized for at least the next three years.”