Issued: Wednesday 4 April, 2012 [PDF,165kb]
Minister for Racing, George Souris, today applauded Racing NSW for making the largest prize money increases per race in the history of NSW thoroughbred racing.
The announcement follows from the historic Race Fields High Court judgement last week and delivers significant benefits across the State and to all participants.
"I acknowledge the intention of the Racing NSW Board to make the priority that all sectors of the NSW racing industry are viable and to secure the future for all of its 50,000 participants.
"This means that from the 1
st July there will be substantial increases in prize money for metropolitan, provincial and country racing and that prize money will be paid to tenth place.
Mr Souris said that a major element of the funding increase is that there will be an upgrade to country and provincial racetracks, training facilities and infrastructure.
"Another significant initiative is that licensed stable-hands will receive 1.5% of prize money.
"This announcement will restore equity in the racing industry at all levels across the State.
"The racing industry in NSW is a significant employer providing approximately 50,000 full and part-time employment opportunities across the State, and an economic contribution of $1 billion annually to the State’s economy.
"This is a step in the right direction for the future of the industry and I once again commend the Racing NSW Board – both current and past members – for their hard work in making a sound platform for the future of the racing industry.
Media: Jinesh Patel 0467 739 344