Tasracing To Increase Funding Across All 3 Racing Codes By $1.24 Million In 2018

Tasracing To Increase Funding Across All 3 Racing Codes By $1.24 Million In 2018

Tasmania Minister for Racing Jeremy Rockliff

Racing Industry Funding And Prize Money On The Increase

Victor P Taffa

Tasracing is set to increase funding across its 3 racing codes of thoroughbreds, harness and greyhounds, by $1.24 Million from January, Minister for Racing Jeremy Rockliff said..

“Hodgman Government made some tough decisions when we came to office but this is now reaping rewards, with all three codes receiving funding increases in early 2017 and increased turnover in Tasmanian racing during the first four months of this financial year.” Minister Rockliff said.

$1.24 Million increase, which will be distributed across the 3 codes between January and June 2018, means total funding for the racing industry in 2017/18 will reach $23.29 Million.

“Code funding will now be higher than in 2014/15 ($22.96 Million), when we made the tough decision to introduce sustainability measures to comprehensively address Tasracing’s untenable business model.” Minister Rockliff said.

Measures introduced included legislation to increase Tasracing’s ability to be commercially responsive to changes in the race field fee market, which in turn increased income through race field fee revenue.

Turnover at the end of October had increased 11.6 %, or $17.7 Million.

“Hodgman Government is a strong supporter of the Tasmanian racing industry, and I look forward to continuing to work with Tasracing and the broader industry to take Tasmania’s racing industry to the next level.” Minister Rockliff said.