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NSW Strategic Plan 6: Additional Revenue Targets

Friday, 7th May 2010

Racing NSW is "also exploring other avenues to generate additional revenue for the thoroughbred racing industry" including:

  • Urging the NSW Government "to adopt a wagering taxation regime similar to the regimes applying in other Australian States". In this regard "if NSW had the same tax regime as will apply in Victoria from 2012-13 the NSW Thoroughbred Racing Industry would receive an additional $90 million per annum in revenue". Compared with Victoria, Queensland & South Australia, the NSW Racing Industry "receives the lowest return & pays the most tax for each $1 bet on the TAB".
  • Several interstate Governments "are also providing grants to their racing industries to fund infrastructure":  Victoria $10 million; Queensland $80 million; South Australia $11 million.
  • Pursuing opportunities to "obtain revenue from new customers by broadcasting & selling NSW racing & wagering internationally & in particular to countries in the Asian Region". Also important is "co-mingling the NSW totalisator pool with the pool in the international jurisdiction to which NSW races are telecast".
  • The Racing NSW Rewards Club will be launched later this month, featuring a program to be "used throughout the racing economy & based on similar successful loyalty schemes currently operating in the wider economy".
  • Supporting Tabcorp with its application to introduce "the computer-generated horse racing game Trackside into its NSW wagering outlets", estimated to generate "$3 million for the thoroughbred racing industry in the first year of operation".
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