Horse racing boosted by racing industry tax policy

24/2/94

The Coalition Government's racing industry tax policy has been successful in stimulating interest in horse racing, according to the latest attendance and betting figures, says Racing and Gaming Minister Max Evans.

Mr Evans said racing clubs were taking advantage of the tax rebate package to pump more money into marketing, and were being rewarded for their efforts.

The Minister said since introduction of the policy to return a wide range of racing taxes to the industry, attendances and turnover had increased across the board.

"Apart from a small fall in on-course tote receipts at the trots, the rest of the industry is performing strongly," he said.

"Attendance at the gallops and trots in 1992-93 was up by nine and 15 per cent respectively over 1991-92, and both are enjoying excellent attendances for the current year to date.

"Bookmakers' turnover at the gallops increased by eight per cent in 1992-93, and this year's figures are again well ahead of last year's, while on-course tote turnover at the gallops jumped by 16 per cent in 1992-93, and another 17 per cent this year.

"This far outweighs a decline in on-course tote activity at the trots, which itself was offset by a seven per cent lift in bookmakers' turnover at the trots - so overall there has been a strong return of interest in racing by punters.

"In terms of attendance at specific meetings, Perth Cup crowds rose from 22,000 to 23,500, the Railway Stakes saw a sharp increase from 9,500 to 12,000, the Pacing Cup was up to 8,600 from 7,300 and the New Year's Eve trots meeting was again a big success in drawing 23,000 patrons, an increase of 2,000 on the previous year."

Mr Evans said it appeared the tax rebate package was doing the job it was intended to do, and he was pleased to see the industry rebounding from a very difficult period. 

He said he looked forward to a continuation of racing's resurgence, with the support of a Government which was committed to the racing industry.

"Racing is not out of the woods yet, and I know many owners and trainers are still feeling the pinch," Mr Evans said.

"But the clubs are doing a good job of getting the crowds back to the track - and that is the key to the viability of the whole industry, and to the viability of the thousands of small owners and trainers who have always been the industry's backbone."

Media contact:  Tony Barker-May 481 3244