News

Concerned Racing Participants Take A Stand

2nd Aug 2009

Press Release - Friday, 31 July 2009

A meeting of concerned thoroughbred industry participants was held today at Randwick to discuss the current wagering imbroglio in NSW and Australia generally. The meeting was called to address concerns about threats to Racing’s revenue and viability from unwillingness of corporate bookmakers to pay reasonable product fees to the industry.

The owners and trainers of some 3400 racehorses attended and contrary to earlier speculation the meeting represented a wide range of Industry investors and participants from around Australia, including owners, trainers and leading administrators.

A number of speakers from both sides of the debate were present to facilitate a balanced discussion.

The meeting heard firstly from Mr. Alan Brown the Chairman of Racing NSW and Racing NSW CEO, Mr. Peter V’Landys. After a question and answer session, the meeting then heard presentations from Corporate Bookmaker representative Mr. Alan Eskander followed by Mr. Robert Nason of Tabcorp and Mr. Andrew Twaits of Betfair. The CEO of the Australian Racing Board, Mr. Andrew Harding and the CEO of the NSW Trainers Association Mr. John Rouse also attended. There was a vigorous question and answer session afterwards.

The attendees considered the presentations and after considerable debate resolved as follows:

1. To support a racing model that has a variety of wagering operators in NSW and Australia.

2. To fully support Racing NSW in the implementation of Race Fields legislation and its representation of all industry stakeholders

3. To support the Australian Racing Board in achieving a national approach to securing the industry’s future.

4. That a fair and reasonable product fee of not less than 1.5% based on turnover should be levied on all wagering operators using the racing product

5. As recommended by Racing NSW and the ARB, that tote odds betting by bookmakers be prohibited

6. That a working party be formed by the meeting’s organisers to ensure the resolutions are progressed