Peter Ali, CEO for Greyhound Racing SA (GRSA) announced that the 2009/2010 budget was approved by the Board and presented to the Members at the Members Information Meeting held today at Angle Park.
The outlook for Greyhound Racing in 2009/2010 is extremely positive, with a healthy increase in Prize Money which will be a record total of $4 million for coming financial year, Mr. Ali said.
GRSA’s role in supporting participants in our industry particularly Trainers and Breeders has seen significant improvements in the new budget, along with additional funding to support our clubs.
- $200k earmarked for capital infrastructure projects
- travel rebates for Trainers to be introduced at Gawler ($15 per Trainer with up to 4 Greyhounds, with more than 4 Greyhounds its $30 per Trainer)
- financial assistance to country clubs, with the provision of funding for all stewards and vet costs
- minor works funding to clubs to increase by 23%
- increase in breeders bonus funding
The $4million prize money figure is a new milestone, with the Grade 5 prize moneys providing tangible benefits. The Grade 5 Tab levels will be:
- Thursday Night (Angle Park) $2000
- Monday (Angle Park) /Tuesday (Gawler) $1150/$1000
- Wednesday (Angle Park)/Country $700
- Non TAB country levels will increase by at least 8.5%
As per the initiative in 2008/2009, GRSA will again pass on all Tax relief rebates from the SA Government in full, in prize money.
It should be noted that there has been no growth in Administration costs; all costs have been maintained from the previous year.
The GRSA Board will review the accepted 2009/2010 budget in December 2009, when a further assessment will be made in relation to revenues being received from race field’s legislation.
With a market share at the end of June 2009 over 15% and a strong racing product and marketing strategies, I believe the 2009/2010 racing calendar will be a healthy year for GRSA and we should see market share growth.