The past five years of operations have seen substantial improvements across all aspects of the Tasmanian Racing Industry, the 2022/23 Tasracing Annual Report says.
It references strong five-year growth in wagering turnover ($231.8 million or 40 per cent), a 75 per cent increase in Race Field Fee revenue ($10 million), a $12.5 million increase in code funding and a $10 million increase in stakes paid.
Other highlights of the annual report included:
- Investment in infrastructure totalled $28.5 million with no additional debt.
- Tasracing announced its preferred location for new harness and greyhound tracks on the north-west coast.
- The Ladbrokes Tasmanian Summer of Racing Festival, that features all three codes of racing, was once again extremely successful.
- The Tasracing Board established a subcommittee to develop a submission for the Tasmanian Government to consider a new funding deed.
- Animal welfare was critically important, reflected by the company’s investment in track infrastructure improvements, the further development of the Greyhound Adoption Program and enhancement of equine-related post-race programs.
- Tasracing’s customer database increased by 11 per cent improving the company’s ability to directly reach its audience.
- Senior Tasracing representatives attended quarterly meetings with the Greyhound Reference Group, Harness Industry Forum and Thoroughbred Advisory Network.
The annual report also referenced key findings from an updated independently prepared economic impact report. It found that the Tasmanian racing industry generates close to $208 million for the Tasmanian economy – 40 per cent of which directly benefits regional parts of the state.
The report also found that the industry supports more than 6400 people as either employees, participants or volunteers. More than 63 per cent of these people live in regional communities.