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NZRIB Pays Extra Funds To Racing Clubs

New Zealand Racing Industry Board

The New Zealand Racing Industry Board (NZRIB) is distributing an additional $3.1 million direct to racing clubs, Board Chairman, Rick Bettle, said today.

Mr Bettle said the money had come from the TAB as additional end of year profits.

“The NZRIB was delighted to receive these extra funds from the TAB. NZRIB Board members have spent some time identifying options for the best use of the extra money, so that it delivers maximum benefits for racing,” he said.

“We have determined that giving the money directly to racing clubs, as a top-up based on last year in this instance, and requesting that they pay it out as additional racing stakes, is the best way to go. Extra stakes will benefit owners and encourage a greater level of ownership, leading to bigger and better races with more opportunities for betting.

“The NZRIB will monitor the clubs, by analysing their financial performance, to see what use is made of the money and how it benefits racing,” Mr Bettle said.

Ends

For further information please contact: Rick Bettle Chairman Tel: 0-4-479 9364 025 230 8115

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