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Horse racing Australia: Racing NSW Strategic Plan Released

Chairman, Mr John Messara AM and Chief Executive, Mr Peter V’landys AM on behalf of Racing NSW, today released the Strategic Plan for the NSW Thoroughbred Racing Industry for the next three years.

Chairman John Messara said the plan represents a blueprint for the reinvigoration of the NSW Racing Industry into the future. 

“It is crucial for NSW that the industry succeeds as it makes an economic contribution of $1.2 billion annually and supports in the order of 50,000 jobs,” Mr Messara said.

“This economic benefit is widely spread throughout NSW, as the industry here holds more race meetings than any other State, and they are conducted across an expansive network of clubs serving communities in all regions of NSW,” Mr Messara added.

The plan is reliant on the NSW Thoroughbred Racing Industry receiving an equitable share of TAB’s gross wagering revenue (revenue received by TAB from punters placing bets). 

Submissions to this effect have been made to the NSW Government and are currently under consideration.  The table below demonstrates the difference between States.

Revenue share of gross wagering revenue for each $100 wagered

Totalizator and Fixed Odds Betting

 

 

Totalizator - per $100 Bet

Fixed Odds Betting - per $100 Bet

State

Racing

Industry Share

State

Government Share

GST

Racing

Industry Share

State

Government Share

GST

NSW 

$4.70

$3.22

$1.52

$4.00

$1.56

$1.30

Victoria 

$7.90

$1.28

$1.52

$7.04

$0.63

$1.30

Queensland 

$7.25

$0.82

$1.52

$6.17

$0.13

$1.30

South Aust. 

$8.00

$0.00

$1.52

$6.79

$0.00

$1.30

Western Aust. 

$6.67

$2.00

$1.52

$5.66

$2.00

$1.30

The current situation is unsustainable, resulting in large and increasing losses to horse owners.  This creates a vicious downward spiral with reduced prizemoney producing larger owner losses, reducing the number and quality of horses racing and hence wagering turnover so reducing revenue to the racing industry and to Government and so further reducing prizemoney and racehorse participation. 

There is a tipping point at which the level of losses becomes a major disincentive to reinvestment.  The evidence points to that tipping point having been reached.

The number of individual horses registered in NSW each year has been in steady decline. 

Between 2007 and 2013, the number of horses registered to race declined by 14% to 4,059.  This decline is also adversely impacting field sizes and will continue to do so unless it is stemmed. 

The initiatives outlined in this Strategic Plan are aimed at reversing the trend.

 

Summary of Strategic Initiatives

•      Reducing the deficit faced collectively by racehorse owners between prizemoney and training and racing costs, by further increasing prizemoney levels benefitting all participants including owners, trainers, jockeys and licensed stablehands

•      Broadening the distribution of prizemoney to participants across NSW including enhancements to the BOBS scheme

•      Reviewing Race Fields fees and determining the optimum level of fees that can be generated

•      Further developing The Championships and a world class Sydney Autumn Racing Carnival that is compelling and attracts considerable international and interstate visitation at its climax

•      Improving the quality of race broadcasts, presentation, quality and access to racing information and form 

•      Engagement of a broader audience through effective digital marketing and branding 

•      Developing an integrated industry marketing and branding strategy 

•      Setting race dates to maximise returns, improve the opportunities for participants outside the Metropolitan area and promote racing throughout NSW as a whole 

•      Reviewing the capital expenditure proposals for racing across NSW and broadening the base of capital expenditure for racing, training and customer facilities 

•      Improving workplace health and safety across the industry 

•      Improved regulatory and integrity regimes that build public confidence 

•      Improving the viability of race clubs 

•      Improving future workforce and human resources

The full Strategic Plan can be accessed on the Racing NSW website.

(Source: Racing New South Wales)

 

 

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