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Racing Codes welcome proposed changes to Racing Act
Racing Codes welcome proposed changes to Racing Act
New Zealand’s three racing codes – New Zealand Thoroughbred Racing (NZTR), Harness Racing New Zealand (HRNZ) and Greyhound Racing New Zealand (GRNZ) – have endorsed the proposed changes to the Racing Act announced by Racing Minister Nathan Guy today.
The proposed amendments would clear the way for the introduction of a Race Fields product fee which is expected to have substantial benefits for all codes.
“This represents a significant step forward for our industry and is something all industry bodies have been advocating for some time,” NZTR chairman Dr Alan Jackson said.
“The proposed changes will make the industry more competitive in an increasingly complex wagering market and provide real benefits for our stakeholders.
“We thank and congratulate the Minister for his work on this vital project.”
HRNZ Chairman Mr Ken Spicer also welcomed the announcement. “This is a significant development for the New Zealand Racing Board and the wider racing industry, with the aim of providing a level playing field in an increasingly competitive wagering environment.
“The internet respects no borders and this legislation will ensure any wagering operator taking betting on NZ racing pays a product fee for that privilege.
“This will provide a legitimate and overdue funding source that will help sustain and grow stakes within the industry for the benefit of our participants. I congratulate the Minister on his efforts in leading this significant development.”
GRNZ Chairman Mr Craig Rendle added his support. “The export market is an important growth area for greyhound racing, and indeed all racing, and the introduction of a royalty fee for overseas operators to use our products will help strengthen our future, and the contribution we make as an industry to New Zealand.
“The Minister’s plans to amend the Racing Act are a significant milestone for the industry, and I congratulate all involved in progressing it to this stage."
Ends
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