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New Zealand Racing Board On Track

New Zealand Racing Board On Track

In announcing the New Zealand Racing Board half yearly result Warren Larsen, Chairman of the NZRB was pleased with progress to date. But he indicated that there is still a way to go in the drive to improve performance.

The turnover is up $28 million (or 4%) on the corresponding six month period one year ago and a distributable surplus (before retentions) of $46.9 million.

“These half year figures are seen as an indication that new initiatives in terms of channels, wagering and marketing along with the contribution from a new management team are producing positive results,’ Mr Larsen said. “But also in analysing this result we have taken into consideration the impact of the current economic conditions. While this is a very good result it must be noted that it was achieved in an environment where the domestic economy remained strong.”

A combination of factors has contributed to the result, including a modest increase in average starter numbers, an increase in the amount of product exported to Australia and a number of marketing initiatives.

Mr Larsen noted much of this could not have been achieved without the cooperation of the Board’s stakeholders.

“The recent success of the Harness Racing’s InterDominions and the performance of New Zealand’s own Elsu exceeded expectations, promising a great event and delivering even more. This capped a sustained period of exciting racing carnivals from the Hawkes Bay Spring Carnival, through New Zealand Cups week and the Summer race days.”

Among recent achievements has been the launching of a new, dedicated racing radio network.

Radio Trackside hit the airwaves on Saturday, April 9, and Mr Larsen said there is one guarantee for listeners: "Racing will always come first". The new station is part of the Board’s strategy to broaden the appeal of racing and to significantly improve the service to customers. This complements recent additions to the programmes broadcast on the Boards television channel, Trackside.
“We also have a new website under development which is currently being tested by 1000 TAB customers. Again, this is an initiative which demonstrates our commitment to providing a product our customers and stakeholders want.”

“Our commitment to the revitalisation of this important New Zealand industry is ongoing and we are continuing to work with the Thoroughbred, Harness and Greyhound codes to ensure that racing continues to be a strong contributor to the New Zealand economy.”

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