Racing and Wagering Western Australia (RWWA) will provide distribution and club subsidies to industry of $152.2M in 2017/18, to support delivery of the strategic plans for thoroughbred, harness and greyhound racing.
This represents an increase of 4.1% on the prior year, including the timing variance of a 53rd week in the RWWA 2017/18 fiscal year.
In addition, all Race Clubs will benefit from a further $4M in grant funding to be made available from October to undertake essential infrastructure projects during the year.
$2.5M of this grant funding will be allocated to Clubs based on wagering performance in the previous year with minimum funding available to each Club of $10,000.
“Distribution to the racing industry is sourced from profits made by the Western Australian TAB together with income via the racing bets levy paid by national wagering operators,” said RWWA CEO Richard Burt.
“In addition to the $6.1M increase in distribution and club subsidies, various other strategic objectives identified within the strategic plans are also being funded and pursued operationally by RWWA in consultation with the codes and will be implemented throughout the course of the year to continue to provide a positive and sustainable future for the Western Australian racing industry.”
Prizemoney will increase from 1 February 2018 across all metropolitan and provincial thoroughbred race meetings, headlined by a $10,000 boost to Saturday metropolitan races. Moreover, a revised prizemoney distribution formula will also be implemented from this date providing stakes to be paid back to tenth placing and a $100 subsidy to all non-stakes earning runners. Thoroughbred Owners and Breeders will also benefit from an increase in the Westspeed Platinum bonus of a further $5,000 for 2yo’s commencing their racing career in 2017/18, taking the total bonus available for a prime metropolitan win to $42,500. Race Clubs recognised as major industry training centres will also receive an increase in this funding stream.
Harness racing in Western Australia is in a period of transition to a new business model with the objective of improving sustainability of the industry into the future. During this transition there will be a redistribution of race dates and a reduction in volume of twelve race meetings in 2017/18. The tiering of stake levels under the new business model will see an overall increase in total stakes paid at each meeting, including an in increase in the base stake level at country and community level. Additionally, the implementation of a new stakes distribution formula will see prizemoney paid to all harness starters from 1 September.
Greyhound racing participants are to benefit from the introduction of a welfare payment of $30 per starter from 1 September 2017. This payment will assist Trainers in maintaining retired greyhounds in their kennel immediately post their racing career before entering the Greyhounds as Pets assessment program. In addition, to infrastructure grant funding, the Western Australian Greyhound Racing Authority will also receive an increase in operational club funding of $300,000.
www.rwwa.com.au