The greyhound industry was reunited from an administrative perspective in the 2009/10 financial year with the merger of GRNSW and the greyhound component of the Greyhound and Harness Racing Regulatory Authority taking effect on 1 July 2009.
TAB Distributions are the major source of GRNSW income, providing $29,867,554 or 83 per cent of income to the sport in the 2010/11 financial year.
The allocation of TAB distributions is set out under a 99 year industry agreement between the three codes of racing in NSW (the Inter-Code). Under these arrangements, the three codes receive a set proportion of TAB revenues paid to the racing industry, regardless of the proportion they contribute to TAB revenue through sales on their product. GRNSW receives 13 per cent of TAB funds distributed but accounts for over 17 per cent of TAB sales. The Inter-Code does not take into account the changing landscape of the industry, nor provide any incentive or reward for efficiency, innovation or growth.
The introduction of Racefields Legislation in 2008 means that all Australian wagering operators now pay GRNSW a fee for using NSW greyhound racefield information. This fee is payable directly to GRNSW and as such there is a direct correlation between the performance of NSW greyhound racing and the racefields revenue GRNSW receives from Australian wagering operators.
In 2010/11 the reported income for Racefield Information Use Fees was $5,285,537, representing 14.7 per cent of industry income.
Whilst this is above the 2009/10 figure, it should be noted that the GRNSW Board has deferred the realisation of this income as a result of the ongoing legal uncertainty surrounding Racefields Legislation. Nevertheless greyhound racing remains the only racing code in NSW to be putting revenue earnt from fees generated by Racefields Legislation into prizemoney for participants.
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In coming weeks GRNSW will move to grading meetings on its new OzChase system. To coincide with this change GRNSW is moving to one combined NSW Grading Policy, rather than maintaining separate TAB and Non-TAB policies. Feedback on the changes, particularly as they relate to Non-TAB grading, is now called for.
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Greyhounds as Pets is a not for profit initiative coordinated by Greyhound Racing NSW. If you are interested in becoming a foster carer or adopter click here for more information.
GRNSW and TAFE NSW will launch the Certificate II - Greyhounds program in March. The program will provide new entrants to the greyhound racing industry with the skills and knowledge to further their career.