Will Hodgman

Premier of Tasmania

6 December 2017

Jeremy Rockliff, Minister for Racing

Racing industry funding and prize money on the increase

Tasracing is set to increase funding across its three racing codes – thoroughbreds, harness and greyhounds, by $1.24 million from January.

The Hodgman Liberal Government made some tough decisions when we came to office but this is now reaping rewards, with all three codes receiving funding increases in early 2017 and increased turnover in Tasmanian racing during the first four months of this financial year.

The $1.24 million increase, which will be distributed across the three codes between January and June 2018, means total funding for the racing industry in 2017/18 will reach $23.29 million.

Code funding will now be higher than in 2014/15 ($22.96 million), when we made the tough decision to introduce sustainability measures to comprehensively address Tasracing’s untenable business model.

Measures introduced included legislation to increase Tasracing’s ability to be commercially responsive to changes in the race field fee market, which in turn increased income through race field fee revenue.

Turnover at the end of October had increased 11.6 per cent, or $17.7 million.

The Hodgman Government is a strong supporter of the Tasmanian racing industry, and I look forward to continuing to work with Tasracing and the broader industry to take Tasmania’s racing industry to the next level.

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