Racing NSW has boosted prize money by A$24M.getty images
Racing NSW Chair Russell Balding announced a prize money increases of A$24M ($17.7M) that will "come into effect" from Sept. 1, the money to be spread across "bread and butter races" across the NSW, according to Brendan Cormick of THE AUSTRALIAN. Racing NSW Chair Peter V'landys said that there were "likely to be more increases before the year was out." The majority of the windfall will "flow down" to owners, trainers, jockeys and strappers of the horses that finish fourth to 10th. Balding said that Racing NSW "consulted widely" and established three key objectives: defraying the costs of owners; enabling trainers to improve their cash flow and business viability; and providing the stimulus to improve field sizes at metropolitan and provincial race meetings (THE AUSTRALIAN, 7/19). In Sydney, Adam Pengilly reported Racing NSW unveiled a "bold" A$1.3M ($960,000) bush-only race called The Kosciuszko, for which punters and racing fans can "broker deals with the state's top regional horse owners to share in the riches," on the same day it "trumpeted" record stakes increases. Saturday city races will be worth a minimum of A$125,000 ($92,495) from Sept. 1 (up from A$100,000) to complement rises for metropolitan public holiday races (A$60,000/$44,397), midweek events (A$50,000/$37,000), Highway races (A$75,000/$55,500) and provincial (A$35,000/$25,900) and country TAB events (A$22,000/$16,280) (SYDNEY MORNING HERALD, 7/18).
WIDENING THE DIVIDE: In Brisbane, Nathan Exelby reported the A$24M windfall comes after the NSW Government on Wednesday guaranteed the three racing codes A$40M ($29.6M) from point of consumption tax revenues, A$25M ($18.5M) of which is believed to be allocated to thoroughbreds. The Queensland government is set to introduce a POC tax in October, but to date there have been "no commitments made to the racing industry." Australian Trainers Association Queensland Branch President Chris Munce said that the "consistent wins enjoyed by participants in NSW" are "widening the divide between the two states." He said, "The money pouring into NSW shows what can be achieved when a government gets behind the racing industry and works with it" (COURIER-MAIL, 7/18).
