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NZ Report Says "One Industry" Will Save NZ$11m
In New Zealand, a report from The Racing Industry Taskforce (Sir Patrick Hogan, Bill Gianotti, Kevin Hickman, Kerry Hoggard, Guy Sargent, Michael Stiassny, Alistair Sutherland & Andrew Brown) asserts the racing industry could save more than NZ$11 million a year (equivalent to a 12% increase in stakes money) by sharing services & adopting a "one industry" approach to delivering racing product. The report makes 3 recommendations:
- NZ Thoroughbred Racing, Harness Racing NZ, NZ Greyhound Racing Association & the NZ Racing Board “adopt a shared-services model to make more efficient use of people & capital & save NZ$7 million a year in costs”.
- NZ Thoroughbred Racing, Harness Racing NZ, NZ Greyhound Racing Association & the NZ Racing Board “seek the appropriate legislative environment to establish a new industry body: Racing & Wagering New Zealand”. A “one industry” approach to delivering racing product will save a further NZ$4 million per year.
- Establish a Racing Council to manage the transition process.