GRNSW unveils 30% expenditure cuts to tackle market challenges

NSW greyhound racing

Greyhound () has announced a plan to tackle apparent greyhound betting revenue market challenges by cutting nearly one-third of its expenditure.

The goal of the plan is to cut costs by 30% in the financial year 2024–2025 while trying to ensure that race prizemoney remains consistent despite adjustments, to certain races.

According to a GRNSW statement from Chief Executive Officer (CEO) , the cuts aim to prioritise supporting participants, who are essential to the sport's vitality.

GRNSW claim the decision for this structural financial reset was made following discussions with stakeholders, industry experts, and partners throughout the state.

A decline of 22.5% in revenue from operators has had an impact on GRNSW's financial situation this year.

Unfortunately, as a result of these challenges, there have been job losses in administrative roles at the head office.

There are fears that the cuts could spread to the NSW Program (GAP) which is integral to ensuring greyhounds lead a full and healthy life.

GRNSW has admitted that, in response to these changes, the NSW GAP Wyee kennel facility will be repurposed as a base for NSW greyhounds involved in the “Aussie Mates” US rehoming initiative.

To address other financial constraints, cost-saving measures such as reducing head office staff and the cost and number of suppliers and contractors are being implemented alongside adjustments to club distribution payment programs, which could lead to fewer races or lower prizemoney.

Despite these changes, GRNSW says they remain committed to upholding standards.

The GRNSW cuts come just over a month after Greyhound Racing Victoria (GRV) announced similar measures in response to lower revenue from betting turnover but admitted they were yet to implement the internal cuts necessary.

Greyhound Racing News

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24 days ago

They just closed GAP at Wyee. This will be interesting.