Purse Increases Take Effect

Increases in minimum prize money for Sydney's country TAB and provincial meetings announced last November after wagering tax parity legislation was passed in New South Wales will take effect from July 1. Minimum prize money for both levels will increase A$5,000, meaning minimum purses of A$27,000 per race for provincial races (up 23%) and A$20,000 for country races (up 33%).

“These increases are part of a package of more than A$21 million in prize money increases for country TAB and provincial races,” said Racing NSW Chief Executive Peter V'landys. “The prize money increases coincide with the second year of the phase-in of wagering parity. These increases would not have been possible without the Baird Government's reduction in state wagering taxes to bring us in line with Victoria over the next five years. We particularly thank Troy Grant for his

leadership on this matter.”

Racing NSW will also stage 15 Country Showcase meetings over the next year, which will boast a minimum purse of A$30,000 per race.

“The Showcase meetings provide excellent opportunities to focus greater attention on some of NSW's emerging country cup meetings,” said V'landys. “Increases to minimum prize money and Country Showcase meetings come on top of the highly successful expansion of The Championships to include

country and provincial racing and the implementation of Highway races at most metropolitan Saturday meetings.”

In other news for Sydney racing stakeholders, Racing NSW and the Australian Turf Club announced Thursday that nomination and acceptance fees would be eliminated for listed races at ATC tracks from Aug. 1.

“The strong financial performance of the ATC allows us to absorb this revenue stream whilst maintaining current listed race prize money levels to the benefit of all owners,” stated ATC Chief Executive Officer Darren Pearce. “We aim to continue to work hard to enable further reductions in costs to owners in future years.”