Talkin Sport - $214 million in returns for NSW racing, despite EI

Tabcorp Holdings Limited today announced that financial distributions to NSW’s thoroughbred, harness and greyhound racing codes totalled $214 million in 2007/08.

The contribution was down only 4.4% on the previous year, despite the significant impact of the equine influenza outbreak on the national racing industry.

“Despite the biggest modern day crisis in NSW racing’s history, TAB returns were almost in line with 2006/07. It shows the resilience of the NSW racing industry and the strength of its partnership with Tabcorp. It is a great credit to all participants,” said Tabcorp Chief Executive Officer, Elmer Funke Kupper.

In NSW, thoroughbred and harness racing stopped for more than three months, with the government providing financial support to participants. National and international racing partners were able to deliver a full racing program, which helped wagering across the nation to continue.

Tabcorp’s racing broadcasting business, Sky Channel, worked with the industry to adjust the national and international racing schedule to ensure punters had product to wager on. As a result, race wagering revenues in NSW were $742 million, down 4.1% on the previous year.

Mr Funke Kupper said Tabcorp continued to invest in its NSW wagering business. The introduction of new betting products, the much greater support of the Autumn Racing Carnival and the investment in the TAB retail network, including the roll-out of self-service Easy Bet Terminals (EBTs), further cemented Tabcorp’s leadership in the delivery of wagering products.

Mr Funke Kupper said Tabcorp would increase its focus on customers in the coming year. “We earn our leadership position every day by investing in our business and by delivering a great experience to our customers, whether they bet in our retail network, over the phone or over the Internet. We will again launch new products ahead of the upcoming Spring Racing Carnival, roll-out a large number of self-service terminals and continue to improve customer service,” he said.

Tabcorp will continue to participate in the NSW Racing Industry reform process. Tabcorp has forwarded a submission to the Independent Review of Wagering in NSW in which the company outlined its recommended framework for the future growth and sustainability of the NSW Racing Industry.

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