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TROA Seeks Immediate Fee Rise From 10% To 20%

Thursday, 16th December 2010

Finally the TROA requests that RV "immediately raise the percentage charged under the existing gross profit model from 10% to 20% while this analysis (by the independent consultant) is taking place. This is your preferred model & suggested pricing so why not use it in the interim? Given your comments (in The Herald Sun) that the 'percentage should eventually be increased to 20%' & that 'corporate bookmakers & Betfair are aware of that & seemingly are comfortable with it', we see no valid reason in delaying such an increase, which will deliver a significant increased interim return to the industry while the choice of model is debated. We estimate this will raise a further $8.5 million in a period of 6 months commencing January 2011, which is net of the amounts payable to interstate totes. We believe it would be irresponsible to delay putting through an interim increased fee (say on a rolling 3 or 6-month deal) & that the assessment process shouldn't be used as an excuse not to do so."

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