WA racing industry continues its stellar rise

12/07/06
The Western Australian racing industry continues to ride a tidal wave of optimism with another record boost in funding.
Racing and Gaming Minister Mark McGowan announced today that he had approved Racing and Wagering Western Australia's (RWWA) 2006-07 Strategic Development Plan, which would see racing club distributions increase by 7.7 per cent to $88.6million in the coming year.
This comes on top of a massive 25 per cent increase in distributions last year, which resulted in stakes increases never before seen in WA.
Of the $88.6million, $65million will be used for stakes - an eight per cent increase.
"This will provide another boost in stakemoney across the State and I am looking forward to the clubs announcing their stakemoney levels for the new racing season," Mr McGowan said.
"Country thoroughbred and harness racing clubs should be particularly satisfied, with some harness clubs enjoying increases of up to 25 per cent in funding for basic stakes.
"In addition, the very popular owners' incentive payments will be increased by as much as 50 per cent for the more remote venues, generating an overall stakes distribution lift as high as 34 per cent for some country harness clubs.
"The fact that RWWA has been able to deliver such strong revenue increases to the racing industry, while at the same time providing for significant future capital outlays such as the new betting computer system, is a tribute to its outstanding performance.
"As a State, our racing industry is outperforming the rest of Australia and the Carpenter Government intends to maintain its commitment to delivering real benefits to the industry."
The Minister said the Government's $25million regional racecourse infrastructure plan was well under way, with a total of $13.3million committed for racecourse rehabilitation since the program began last year.
"On top of this, the Government's promised reform of wagering tax will kick in 12 months from now and this reform will deliver a further $12million to the racing industry each year," he said.
"The racing industry in this state employs thousands of Western Australians and it is a great time to be involved."
Minister's office: (08) 9222 9111