Home2016/17 Distribution Announced For WA Racing Industry
2016/17 Distribution Announced For WA Racing Industry
July 26, 2016
Industry
i
Industry
2016/17 Distribution Announced For WA Racing Industry
26 July, 2016
Industry
I
INDUSTRY
Racing and Wagering Western Australia (RWWA) has approved a new racing season funding allocation of $145million for 2016/17; an increase of 5.5% from last year’s distribution of $137.4million.
Despite challenging economic conditions in Western Australia and a highly competitive wagering market, RWWA is committed to increasing racing industry funding by $7.6million across the three racing codes.
In addition, RWWA has allocated a further $7.5million funding for race club infrastructure work recognising the Government supported Race Club Infrastructure Grants Program (RIGP) and Royalties for Regions (R4R) funding programs have ended, resulting in overall racing industry funding for 2016/17 of $152.5million.
Of the $7.6million in distribution funding increase, $5.5million will be directed towards supporting race clubs across thoroughbreds, harness and greyhounds, with RWWA for the first time funding on course broadcast costs commencing from 1 August 2016.
This investment will ensure the production of raceday vision for television, on-course broadcast and stewards requirements are maintained at the highest levels with high definition enabled technology in place. A new vision provider has been appointed at the major thoroughbred and harness venues. RWWA will assume responsibility for the full cost of this enhanced service as well as existing services at other race clubs.
In line with the new thoroughbred programming strategy implemented at metropolitan and provincial venues from 1 February 2016, a further $1.7million has been allocated to support the required base stake increases for thoroughbreds. This season will also see the first crop of Westspeed Platinum yearlings’ race, which is expected to increase Westspeed bonus payments to owners by a further $220,000.
Harness will have a reduction in the volume of race meetings (from 279 to 272) to reflect the horse population.
An increased unplaced starter subsidy to greyhounds will be allocated for greyhounds running 5th-8th, improving the financial viability for participants.
The significant increase in distribution funding is necessary at this time due to the financial pressure on race clubs and the need to maintain racings participation base.
RWWA CEO, Richard Burt, discussed the 2016/17 distribution on TABradio, listen below or click here.