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Racing Victoria Unveils Wagering Revenue Increase
Yesterday, Racing Victoria announced that revenue from wagering increased 3.5 per cent in the past financial year despite a continued drop in pari-mutuel turnover as punters migrate to fixed odds. With total turnover surpassing $6 billion in a season for the first time, RV chief executive Giles Thompson said, "Racing Victoria will post a healthy surplus for FY17 in part due to wagering revenue increases of 3.5 per cent. This is a strong result with turnover increases offsetting reduced returns to the three codes from the Tabcorp Joint Venture." Thompson explained that he is committed to continuing to share key statistics that provide clarity around the performance of Victorian racing.