News

Future Directions For NSW Racing Industry

28th Jan 2009

Racing NSW - Racing NSW Press Release - Wednesday, 28 January 2009

NSW Gaming and Racing Minister, Kevin Greene, today convened a meeting to explore the potential benefits of an amalgamation between Sydney's two metropolitan race clubs, the Australian Jockey Club and the Sydney Turf Club.

Mr Greene met with the Chairmen and Chief Executives of the AJC and STC as well as Mr Peter V'landys, Chief Executive of Racing NSW, to discuss the future of the State's racing industry.

"Discussions today centered on the merits of having the STC and the AJC operating as one racing club," Mr Greene said. "I was extremely pleased with the positive discussion that came from all parties involved and it was agreed in principle that the matter should be pursued further.

"I will now work with Racing NSW, the STC and the AJC to formulate terms of reference with a view to engaging an independent person to undertake a feasibility study.

"I believe this is a move that will benefit racing in NSW for all participants. It is important to ensure NSW racing is ready to face future challenges.

"If the positive vibe from today's meeting is anything to go by, I'm confident the racing industry can move forward in a mature, exciting and positive direction," he said.

Mr Bill Picken, STC Chairman, welcomed the review: "In these economic times it's only prudent to explore all avenues which benefit the industry as a whole," Mr Picken said.

AJC Chairman, Mr Ross Smyth-Kirk, complimented the Minister for his proactive initiative: "This will once and for all determine what is the best model to maximise financial and intangible returns to the industry," he said.

Mr Greene said the first step of the process will see the proposal placed before the respective Boards of the two clubs, seeking their support for the study.

It is expected that, subject to the support of the Boards, appropriate terms of reference will be drafted and a suitable person will be commissioned to undertake the review as soon as possible.