SBD Global/July 10, 2014/Finance

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  • Racing Victoria Chair Robert Roulston Calls Current Funding Model Insufficient

    Racing Victoria Chair Robert Roulston "believes the state's position as No. 1 in racing will be under threat if it has to continue with its present funding model," according to Michael Manley of the HERALD SUN. Roulston: "We’d have to concede we're under a challenge at the moment from our northern neighbors." Roulston said that Queensland and New South Wales racing had both "benefited from recent deals with their State Governments." Roulston said at the moment Racing Victoria was A$25-A$26M ($23.5M-$24.4M) "down on where it wanted to be." Racing Victoria was hit last week with a A$5.7M tax bill relating to its "previous arrangement with Tabcorp." Roulston said Racing Victoria was in "ongoing discussions with the State Government and also the opposition about increasing funding so that Victoria would remain the No. 1 racing state." Roulston said, "We're confident in an election year that they will provide some form of relief for the industry so we can maintain our pre-eminent position" (HERALD SUN, 7/9).

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