NZ Racing Board pays out 83% of turnover in winnings

MEDIA RELEASE:
25 March 2014
NZ Racing Board pays out 83% of turnover in winnings

The New Zealand Racing Board commented on the latest New Zealand gambling sector figures released today by the Department of Internal Affairs.

“From the NZ Racing Board’s perspective, these stats don’t reveal one very important number: that is our TAB customers received back more than 83 cents for every dollar they spent in the current financial year; that’s a great percentage,” Chief Executive Officer Chris Bayliss said.

“The NZ Racing Board plays an important role in New Zealand communities and the economy. As an organisation we’re responsible for almost 1% of the country’s GDP and as an employer we’re ultimately responsible for over 17,000 full time equivalent jobs around the country.

“Racing has always made a significant economic and social contribution to New Zealand and communities around the country with support provided to over 260 community organisations and charities, while more than 400 community organisations share Racing Club facilities and resources.

“For the financial year 2012/13, the NZ Racing Board turned over $1,956.8 million. After the previously-mentioned more than 83 per cent pay-out to customers, and operating costs, we returned more than $146 million to the New Zealand racing and sports sectors. We’re proud to play our part in providing jobs, supporting New Zealand racing and sports, helping the communities in which we operate and offering great entertainment,” Mr Bayliss said.

ENDS

Further NZ Racing Board information can be found here http://www.nzracingboard.co.nz/annual/

© Scoop Media