Peter Ali, Chief Executive Officer for Greyhound Racing SA (GRSA) announced today that Greyhound Racing SA is performing well financially and as a result will pay bigger dividends, increasing the Prize Money pool for greyhound racing in this state.
Following a Board Meeting held at Angle Park on Thursday 4th of February, the GRSA Board agreed to pass on the positive financial returns in extra Prize Money that will in fact be back dated to the 1st of January this year.
Therefore owners/trainers will receive the extra windfall that will be paid retrospectively for their winning Greyhounds performance!
A total of $500,000 has been allocated, $250,000 into this financial year, taking 09/10 Prize money levels to $4,250,000, which is in fact 21.4% over 08/09 prize money allocation. The balance will be allocated to the 10/11 financial year which demonstrates the Boards ongoing commitment to further increase prize money levels, which ultimately flow through to industry participants.
For further clarification, detailed below is an explanation of where prize money increase will be allocated:
Angle Park additional $103,000 to $2.69 million
- Thursday Grade 5 up $200 to $2,200 with all grades increased
- Monday/Tuesday (APM) Grade 5 up $100 to $1,250 with all grades increased
- Wednesday all races up $100 to $800
- Lower Grade features up by $500 to $4,000
- Non-Group feature events increased to $7,000 (up from 6,250) or $14,000 (12,500) plus increases to Breeders Futurity
Gawler additional $48,000 to $610,000
- Tuesday/Monday Grade 5 up $150 to $1,150 with all grades increased
- Sunday all races increased by $100 to $800 or $850
- Increases to feature races of between $250 to $500
Country additional $33,000 to $603,000
- TAB meetings all races increased by $100 (Grade 5 level $800)
- Non-TAB Meetings all races increased by $50 (Grade 5 level $650)
SA Bred Bonuses additional $24,000 to $216,000
- Monthly bonus pool increased by $4,000 to $18,000
Travel Rebates additional $33,500 to $135,000
- Increase to $20 per trainer from $15 (over 5 or more starters $40)
- Wednesday mornings included, so that all Angle Park and Gawler meetings to have Travel Rebates
GRSA’s market share as at 30th June 2009 was 15.61% and indications show that Greyhound Racing will experience further growth again this year.
The Management Team and GRSA Board are committed to implementing further strategies to grow their market share over our competitors, by providing the optimum racing product for the industry and the racing public.
They are also committed to providing Prize Money increases and are extremely pleased that the business is in a healthy financial state to do so.