Racing Bill Needs Closer Scrutiny
23 January 2002
The Racing Board should be the people who decide on the distribution of profits from offshore betting, says Nationals Racing spokesperson Lindsay Tisch.
The proposed Racing Bill sets in place a formula which distributes the profits to the racing codes in the same proportion based on the domestic turnover.
Politicians are essentially determining the pay out with this formula when the industry should have the flexibility to determine the distribution to the three racing codes.
The latest independent report assesses the economic impact on thoroughbred racing and shows the fortunes of the industry in decline.
The proposed Racing Bill does nothing to address this important issue.
I am deeply concerned and this independent report needs much closer attention and National will be considering its implications.