As I will shortly be concluding my role as the Tasracing CEO I would like to put on the record my appreciation for the support from the members of the Tasmanian racing industry during a challenging period of change and transition.
It has been well documented that the current Board and management team from Tasracing inherited a challenging financial situation and the company’s focus for the last four years has been to address this issue.
Following the changes implemented by the Board and with the support of Government last year, it has been pleasing to reflect on the financial statements that have been prepared. When tabled in parliament later in the year they will show the company has a strong, sustainable position.
Also, while we have maintained a disciplined financial focus, the company has continued to maintain robust revenue growth, driven by a suit of innovative digital products, international revenue and a competitive commercial policy.
The impact of the sustainability changes on industry participants is not lost on myself and I know the company is mindful now of the need to enter a phase of investment and growth, for the benefit of the industry.
The company’s new Corporate Plan will be released soon and will outline an ambitious yet realistic plan for growth. Stakes and infrastructure are front of mind and will be priority items.
In signing off from Tasracing I would like to reiterate my appreciation to industry participants for their support and assistance during my tenure. It is only by working together that we are able to succeed in all of our business and racing endeavours.
And finally, I would like to express my deepest appreciation to the Board of Tasracing, the successive Racing Ministers I have worked with and the loyal and dedicated team at Tasracing.
Eliot Forbes
12 August 2016