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AJC Prizemoney Slashed 2: Corporates Refute "Leakage" Allegation

Friday, 3rd July 2009

In contrast to the comments made by AJC Chairman Ron Finemore & Racing NSW CEO Peter V'Landys regarding "revenue leakage from NSW", Betfair CEO Andrew Twaites observed: "Race fields fees represent new money to the NSW racing industry, so I'm not sure how a decision by Racing NSW not to distribute those fees to the clubs can be used to justify a cut in prizemoney." This stance was echoed by Betchoice CEO Mark Morrissey who told the Daily Telegraph that if the corporate bookmakers were the cause of the problem, "Why is it only NSW that is experiencing negative growth? All anyone has to do is look up the TAB revenue figures in the ARB fact book and they will see that if you remove NSW from the numbers Australian TABs are absolutely flying since the corporates opened shop."

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