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AJC-STC Propose "Merger Benefits Team" Report Monthly
The LEK report identifies "a range of key factors that must be addressed in considering a potential AJC-STC merger". The clubs "have committed to work to address the broader issues that need to be resolved to secure the future of racing in NSW". The Clubs proposed to the Minister that he appoint a "Merger Benefits Team to facilitate this project & report back later this year, with on-going monthly reports to the Minister". The team (comprising "the chairs & chief executives from Racing NSW, AJC, STC & a NSW Government representative") would consider:
- Progressive future governance options.
- Property strategies for long-term revenue growth & sustainability.
- Government support required for capital raising.
- The disparity between NSW & Victoria in the area of wagering taxation & funding.
- Long-term entertainment precinct consents for the clubs to leverage property, diversify revenue streams & maximise events for NSW.
- Working with Racing NSW to address race dates & programming 3 years in advance.
- Safeguards on the unique identities & brands of the 2 race clubs.