Greyhound Racing NSW (GRNSW) today welcomed the Minister’s release of the Independent Review of Wagering by Alan Cameron.
The Review’s key findings and recommendations are largely consistent with GRNSW’s submission to Mr Cameron last July.
Speaking on behalf of the Board of GRNSW, its Chairman Professor Percy Allan AM said the report vindicates the large amount of research and preparation that went into the GRNSW submission to the Cameron review.
“GRNSW is particularly pleased that Alan Cameron has recognised that the future sustainability of racing in NSW requires its three codes to be rewarded according to their relative contribution to racing turnover rather than each being guaranteed a fixed income share regardless of results,” Professor Allan said.
“The report’s recommendations, if accepted, involve embracing a culture of promoting and rewarding innovation, growth and performance while liberalising the legislative regime in order to be competitively neutral with other states and territories.”
Two of the key recommendations by Cameron in the review include :
- Recommendation 21: The three racing codes should agree to amend the Intercode Agreement to provide that returns to each code from TAB distributions are in proportion to the percentage of wagering generated by each code; in the absence of such an agreement, the Government should over-ride the Inter-code Agreement and the RDA such that the distributions from the TAB are made directly to each code and in proportion to the percentage of wagering generated by each code.
- Recommendation 22: Assistance, extending if necessary to short term financial assistance, should be provided to the racing industry in order to assist with this transition, but only when the provision of such funding is supported by a clear business case.
GRNSW Chief Executive Brent Hogan said the review recognises the greyhound industry’s ability to be flexible and seize opportunities as they arise.
“Greyhound racing has been able to achieve substantial growth, reflected in an increase in market share but despite this the Inter-Code agreement has not been amended to reflect this and the greyhound industry has not been rewarded for its achievements,” Mr Hogan said.
“The Inter-Code agreement has always provided a significant barrier to innovation and these recommendations by Alan Cameron will allow codes to be placed on a sustainable footing which will allow greyhounds to meet future changes in technology and be paid based on individual performance.”
GRNSW will provide a detailed response to the review by the deadline of January 31, 2009.