Our Fair Share
The following provides a short summary of the current position of the NSW greyhound racing industry:
• Currently delivers 20% of TAB Wagering Revenue.
• Is paid for 13% of Wagering Revenue for a 99-year term via RDA and Inter-Code Agreements.
• Is paid for 597 races under RDA but currently runs 930 per annum.
• A fundamental flaw exists in the Industry funding model in that there is no correlation between Greyhound Industry performance and the flow of money back from wagering via RDA and Inter-Code Agreement into GRNSW for prizemoney and industry development.
• The Industry’s commercial funding model relies on a wagering supply chain dependant on all three codes and TAB which is ‘locked in’ for next 99 years.
• Since the NSW Government privatised the TAB and the Inter-Code funding arrangement was implemented in 1998, greyhound racing has effectively subsidised the other two codes by over $154m, with the level of subsidisation increasing each year.
• An independent report by Alan Cameron recommended the Government abolish the current fixed rate revenue system that has seen the NSW racing and wagering industry in steep decline.
• These impediments to growth can be immediately fixed and the future of the greyhound industry secured if the NSW Government simply implements the clear and decisive recommendations of the Cameron Report.
• NSW has lagged behind every other state in terms of wagering growth over the last decade because of the current structure. Mr. Cameron’s recommendations would place each code into a commercial environment where its success would be determined by its own performance which would therefore require each code to critically assess and put in place strategies to sustain and grow its sport.
The commercial funding model remains a significant public policy issue for the racing and wagering industry in NSW as continuing lack of incentive and innovation will inevitably lead to further industry declines. Such declines will impact industry stakeholders across the three codes, regional communities and NSW Government revenues.
Current Income Share
Thoroughbreds - 70%
Harness - 17%
Greyhounds - 13%
Contribution to Sales
Thoroughbreds - 68%
Harness - 12%
Greyhounds - 20%
GRNSW Submission to the Independent Review of Wagering conducted by Alan Cameron
Review of wagering and the future sustainability of the NSW racing Industry (Cameron Report)
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