Minister for Racing Denis Napthine has congratulated Greyhound Racing Victoria (GRV) on its success as the organisation reports strong wagering turnover, a major increase in prize money and the upgrade of tracks and facilities over the past financial year.
Upon the tabling of GRV’s 2010/2011 Annual Report in State Parliament today, Dr Napthine said the Victorian Coalition Government was a staunch supporter of greyhound racing and it was great to see the sport thriving.
“Over the 2010-2011 financial year, Greyhound Racing Victoria had a very strong wagering turnover resulting in a market share of nearly 20 per cent, which is up from 9 per cent in 1994,” Dr Napthine said.
“Strong and consistent wagering returns have also enabled a series of prize money increases over the past year.”
In 2010-11 Greyhound Racing Victoria reported:
- a 5.7 per cent increase in stake money to a total of $26.0 million;
- an increase in off course turnover by 11.2 per cent to $692 million;
- the opening of refurbished tracks and facilities at Sandown and Beckley Park; and
- the announcement of the extension of the vision broadcasting rights with Sky Channel until 2015.
“Greyhound Racing Victoria and the Victorian Coalition Government share a strong vision for the future of the sport in this state and I look forward to working together in coming years and this momentum continuing,” Dr Napthine said.
“Already the industry generates an economic return of more than $195 million annually to the state and employs close to 2,000 Victorians
“The Victorian Government has provided funding for the $4 million redevelopment of the Bendigo racetrack and supported upgrades at other facilities to help continue growing the greyhound industry.
“It is pleasing to note that GRV has also given back to the community through initiatives such as the ‘Go The Pink’ campaign which raised more than $120,000 for the McGrath Foundation, the Great Chase racing series which raises money for local community groups, and the Prison Pet Partnership which operates at the Dhurringile and Tarrangower minimum security prisons,” Dr Napthine said.
GRV Chairman Peter Caillard, who in July replaced former Chair Nick Caley, said the 2010/2011 year was a great success for the organisation.
“Thanks to the hard work of the team at GRV, greyhound racing is enjoying a tremendous resurgence with more people than ever discovering its appeal,” Mr Caillard said.
“Key achievements include the introduction of new racing distances, particularly dual sprints at most provincial tracks, and the introduction of Tier Three Racing for out-of-form greyhounds.
“With improved facilities and the launch of new marketing campaigns, I am confident that greyhound racing is well positioned to achieve further growth,” Mr Caillard said.