News

Federal Court judges rule in favour of Racing NSW

17th Nov 2010

Racenet - Clinton Payne - Wednesday, 17 November 2010

Three Federal Court judges have ruled in favour of Racing NSW when handing down their decision on three Racefield Legislation appeals before the court on Wednesday.

Chief Justice of the Federal Court, the Hon Patrick Keane and two other Justices, all ruled in favour on the NSW racing administrative body’s right to charge wagering operators a 1.5 percent turnover fee on the NSW racing product and retain funds paid by corporate bookies since July 1, 2008.

Racing NSW CEO Peter V’landys said the victory over corporate bookmaker Sportsbet and Betting Exchange Betfair was a win “for participants” and he described the decision as a “monumental and best 200th-year birthday present” the industry could receive.

“It was pretty comprehensive, it was three zero and all three judges found for Racing NSW in all three appeals,” V’landys told Sky Sports Radio.

“This is monumental, it’s out 200th year celebration and this is the best 200th-year birthday present you could receive.

“We now have all this additional revenue and you add the $174 million for the merger of the AJC and STC and they are probably the two biggest events in the history of 200 years of racing.

“There’s a $120 million that Racing NSW has accumulated and that will all go back to the participants in some way.

“For the first time there’s a light at the end of the tunnel and it’s a massive light.

“It couldn’t have been more comprehensive and I hope this is the end of the matter now and everyone moves forward and they pay the one and a half percent.”

Sportsbet and Betfair have one outlet to challenge the Federal Court ruling and have 28 days to seek leave to appeal to the High Court.

“It’s not any ordinary judge, this was the Chief Justice of the Federal Court, a constitutional expert, that found in our favour so they’ll be very brave to appeal,” V’landys said.