Australia’s country racecourses could disappear, officials warn
Racing Victoria CEO Aaron Morrison has warned that gambling advertising reforms could significantly reduce wagering revenue.
Australia.- Racing officials are warning that country racecourses could disappear if proposed gambling advertising reforms lead to a significant drop in wagering revenue. Racing Victoria CEO Aaron Morrison said around 85 per cent of racing’s funding comes from wagering-related revenue, leaving the industry particularly exposed to changes that reduce betting activity.
He warned warned of a “very real” threat and said the industry had no alternative source of funding ready to replace any revenue lost.
“If funding falls materially, difficult decisions will have to be made around investment, infrastructure, returns to participants and stakeholders and racing activity,” Morrison said.
Morrison’s comments come as debate continues over Australia’s proposed new gambling advertising rules. Racing officials are particularly concerned about proposals to restrict inducements for existing customers, saying such promotions contribute up to 30 per cent of turnover on racing.
Victoria has 109 racing clubs, with all but four located outside inner Melbourne. Racing Victoria says the state’s racing industry supports around 33,500 full-time equivalent jobs and generates approximately A$5.5bn (US$3.6bn) in economic activity. It says the impact would extend beyond racecourses, affecting trainers, jockeys, stable staff, breeders, veterinarians, suppliers, volunteers and other workers who depend on racing across regional Australia.
