The NSW Government has taken a monumental step towards securing the long term future of greyhound racing in NSW, announcing $25 million in additional infrastructure funding and a new funding model that will see the regulator fully-funded by the NSW Government.
Minister for Better Regulation Kevin Anderson said a new funding arrangement will see the Greyhound Welfare Integrity Committee (GWIC) funded entirely by the NSW Government from wagering tax rather than via the industry’s commercial arm, Greyhound Racing NSW (GRNSW).
“We have established an independent regulator for the greyhound industry in NSW and after listening to feedback from stakeholders we know it is important GWIC’s budget is approved and funded independently of the commercial arm of the industry,” Mr Anderson said.
“This new model is fairer and more equitable and will see the regulator fully funded by the NSW Government, removing the burden of funding GWIC’s operations from the commercial body, freeing up millions of dollars which can be reinvested in facilities and prizemoney to secure the future of the industry.
“The NSW Government is building a safer and stronger NSW by supporting valuable jobs in the greyhound racing industry, which will mean more money in people’s pockets and more money in local economies as we develop an even better industry.”
GRNSW will be required to contribute all Point of Consumption tax distributions directly towards GWIC’s operating cost with any shortfall funded through additional NSW Government support.
Under the new model GRNSW will contribute a minimum of $25 million over the next five years into a newly established Greyhound Industry Future Fund that will invest in capital items like grandstands and patron facilities, as well as rehoming facilities.
“The NSW Liberals & Nationals have already made $30 million available through the Greyhound Racing Capital Grants Program to bring tracks up to the new minimum welfare standards,” Mr Anderson said.
“We want this industry to go from strength-to-strength and this new fund enables investment in off-track facilities to improve the experience of spectators and greyhound participants while they are at the races.
“This is a win-win for both industry and the regulator. GWIC now has certainty of funding and GRNSW now has millions freed up for its commercial activities. It is a major shift that guarantees the viability and future of both organisations.
“Under the new arrangements, GWIC can continue to safeguard the integrity of greyhound racing and betting while GRNSW can focus on supporting the growth and prosperity of the greyhound racing industry.
“The new funding model for GWIC is something industry has called for and it is fantastic to see Greyhound Racing NSW, Greyhound Breeders Owners Trainers Association and Greyhound Clubs NSW partnering with Government to build a better industry.”
Greyhound Racing NSW’s Chief Executive Officer Mr Tony Mestrov welcomed the announcement by the NSW Government.
“We thank the NSW Government and the Minister Kevin Anderson for his support of a new and fairer funding model for the NSW greyhound industry’s independent regulator,” Mr Mestrov said.
“This announcement will allow Greyhound Racing NSW, as the commercial arm for industry’s racing and rehoming initiatives, to invest more into ‘BOOTS on the ground’ welfare projects and support its thousands of participants with better prizemoney returns that support their livelihoods.
“It will also position GRNSW to deliver better facilities at tracks in our grassroots heartland regions across NSW.”
