CAPITAL CONTRIBUTION AGREEMENT

Exhibit 10.5

                         CAPITAL CONTRIBUTION AGREEMENT

      This  Agreement,  dated as of November 14,  2005,  between  SOUTHERN  TIER
ACQUISITIONS, LLC, a New York limited liability company, having an office at 125
Park Avenue,  New York, NY 10017 (the "Southern  Tier") and TRACKPOWER,  INC., a
Wyoming  corporation,  having an office at 67 Wall  Street,  New York,  NY 10005
("TrackPower").

                                   WITNESSETH:

      WHEREAS,  a limited  liability  company was formed in accordance  with the
provisions of the New York Limited Liability Company Law under the name of Tioga
Downs  Racetrack,  LLC (the "Company")  pursuant to the Articles of Organization
filed on May 26, 2004, with the New York State Department of State. An Operating
Agreement  of the Company  was  entered  into as of  September  1, 2004,  by the
Company's members, Southern Tier and TrackPower.

      WHEREAS, the parties made certain capital contributions to the Company and
the parties wish to equalize their respective capital contributions.

      WHEREAS, the parties wish to enter into a certain  contribution  agreement
(the "Contribution Agreement") among Southern Tier, TrackPower,  Nevada Gold New
York,  Inc., a New York  corporation  ("Nevada  Gold") and  American  Racing and
Entertainment,  LLC, a New York limited liability company  ("American  Racing"),
whereby  Southern Tier and TrackPower  will contribute all of their interests in
the Company to American Racing.

      NOW, THEREFORE, the parties hereto hereby agree as follows:

      1. The parties  acknowledge that Southern Tier owns fifty percent (50%) of
the membership  interests of the Company and TrackPower owns fifty percent (50%)
of the membership interest of the Company.

      2. As of the date hereof,  Southern Tier has made capital contributions to
the  Company in the amount of  $4,337,147.76  and  TrackPower  has made  capital
contributions  to the Company in the amount of  $2,638,466.85,  totaling capital
contributions of $6,975.614.61.

      3.  The  parties  hereto   acknowledge  that  TrackPower,   Southern  Tier
Acquisition II LLC ("Southern  Tier II") and Nevada Gold are about to enter into
a certain Operating  Agreement of American Racing.  Pursuant to the terms of the
Operating  Agreement of American  Racing,  TrackPower  shall receive  credit for
capital  contributions in the amount of $3,487,807.30 and Southern Tier II shall
receive credit for capital contributions in the amount of $3,487,807.30.

      4.  TrackPower  acknowledges  that  Southern  Tier has  heretofore  made a
capital call in the amount of Eight Hundred  Forty Nine  Thousand  Three Hundred
Forty One Dollars ($849,341) pursuant to the terms of the Operating Agreement of
the  Company.  On or  before  December  31,  2005,  time  being of the  essence,
TrackPower  shall pay directly to Southern  Tier the sum of Eight  Hundred Forty
Nine Thousand Three Hundred Forty One Dollars  ($849,341) by official bank check

                                       -1-
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pursuant to the terms of a certain note (the "Note)  attached  hereto as Exhibit
A. Southern Tier shall have the sole right to retain the payment pursuant to the
Note for Southern  Tier's own account and such payment shall not be  contributed
to the Company or to American Racing