News Article

Maximising Financial Returns for Tassie Racing

25 / 10 / 2010 Article by: Editor

Media Release – Issued by Bryan Green, MP – Minister for Racing (Monday 25 October 2010)

The Minister for Racing Bryan Green said today fees will soon apply for wagering operators to use Tasmania’s race field information in a move designed to maximise financial returns to the State’s racing industry. Mr Green said Cabinet had endorsed proposed amendments to the State’s racing legislation requiring payment of the fees from November 1 this year.

“The legislation is not expected to come into effect until April next year but the fees will be retrospective,” Mr Green said.

Mr Green said an estimated $4.9 million a year in fees would go directly into Tasracing’s operating budget.

“It will help put our racing industry on a more sustainable footing in the years ahead.

Mr Green said the changes had been recommended by the Solicitor-General to address legal concerns over legislation for the provision of the fees.

The Solicitor General also recommended the removal of the threshold which exempted wagering operators with a turnover of less than $2.5 million from paying for race field information.

“On-course bookmakers will be subject to the fee but the Government is proposing they no longer pay commission on their turnover.

Mr Green said the Government also intended to transfer responsibility for administration of the race fields regime from the Director of Racing to Tasracing.

Further information: Matthew Sullivan 0407 816 462