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SBD Global/September 6, 2012/Facilities

Racing NSW Plans To Invest $30M In Statewide Race Courses, As Only The First Phase

Racing New South Wales will announce A$30M ($30.6M) in funding for racecourses around the state in upcoming weeks "in the first phase of the roll-out from the race fields court win," according to Chris Roots of the SYDNEY MORNING HERALD. Letters were sent to the Australian Turf Club, provincial clubs and country clubs this week "setting the terms and conditions for receiving funding" and details on the amounts each club will receive. Racing NSW CEO Peter V'landys said, "If for any reason a club that gets money folds or it's used for a non-racing purpose, the funding will have to be returned in full. This money is a once in a lifetime opportunity, and we want it more to benefit the industry well into the future." V'landys did not elaborate "on which clubs or how many had been successful in gaining funding" but did indicate the A$30M investment was only the first round (SMH, 9/6).
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