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Prize-Money Drop If Racing NSW Loses In Court

Tuesday, 28th October 2008

Racing NSW chief executive Peter V'Landys sent out a Racing NSW Participants' Bulletin with the attention-grabbing headline: "Race Fields Legislation: Prize-Money To Drop If Wagering Operators' Legal Challenges Succeed". In a no-holds-barred warning, V'Landys declared: "The implementation of the recently commenced NSW race fields legislation is, without doubt, the single most important issue which the NSW racing industry has encountered for many years & the most important it will face for many years to come. It is absolutely critical to the financial future of the NSW racing industry & the structure of the industry as it currently stands". V'Landys adds: "Unfortunately, some wagering operators have commenced court proceedings challenging the new legislation and/or the fees payable to Racing NSW under that legislation. Racing NSW will be vigorously defending these court proceedings." V'Landys notes: "Between 65-70% of the total income of the NSW thoroughbred racing industry comes directly from wagering, with the industry currently receiving about $165 million per annum from wagering operators. Of this $165 million, approximately $160 million comes from fees paid by the NSW TAB & around $5 million from NSW-licensed on-course bookmakers. Until the introduction of the NSW race fields legislation, wagering operators licensed in other States & Territories paid absolutely zero to the NSW racing industry, despite holding around $3 billion in turnover on NSW racing." V'Landys emphasisise: "Given the fundamental importance of the issues at stake for the future of the NSW racing industry, participants need to be aware just how important that the NSW race fields legislation & the proposed fees are, and what is at stake for the future of racing in NSW." (For the full text, click on the link in The Great Debate panel on the right-hand side of this page.)

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