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SBD Global/July 30, 2013/Finance

Racing Victoria CEO Bernard Saundry Expects Continued Decline In Training Businesses

Racing Victoria CEO Bernard Saundry said that "market forces rather than a move to rationalize training licenses in Victoria will see training businesses continue to decline in the next 10 years," according to Michael Sharkie of THE AGE. Debate has "raged in recent weeks about the pressure of debt on trainers, with opinion split between those calling on Racing Victoria for assistance, and those who prefer Darwinian logic to apply." Saundry said that although Racing Victoria was working toward better safeguards for trainers, "it could not be responsible for the financial viability of struggling stables." Saundry: "There will always be a place for hobby trainers in Victoria, but the fact is that the dynamics of the business model of training is changing and it is changing rapidly. Ultimately, it is up to the trainers themselves to change their practices if they want to run a viable business" (THE AGE, 7/30).
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