Daily News Archive
Daily News Subscription
Bookies Boss Says NSW Crisis "Largely Self-Made"
NSW Bookmakers' Co-operative chief executive Peter Fletcher told The Sydney Morning Herald: "NSW's so-called funding crisis is all about wagering: it's going backwards here while the rest of Australia is growing. There has been $2 billion in national racing turnover growth in the last 5 years, half of that in the TAB sector. That's net growth - new money - not transfers. But NSW got none of it due to outdated operating restrictions here, both for bookies & the NSW TAB. Rob Hines's open letter yesterday (from Racing Victoria chief executive Hines to his state's industry participants) is the clear evidence that the NSW crisis is largely self-made, through continuing support of out-dated betting restrictions in this state." Sydney's biggest bookmaker Con Kafataris told the newspaper: "The problem in this state has been consultation. They've been consulting with everyone in Victoria for the past 4 or 5 years & it is going gangbusters. Market forces are driving Victorian wagering growth, but NSW won't allow it & it's driving everyone out of business. Racing NSW is trying to make it a closed market. I implore everybody to sit around a table & sort this mess out, let level heads prevail for the betterment of everyone involved."