Greyhound Racing New South Wales hails full-year financial turnaround
Wagering revenue was up by AU$3.2m year-on-year.
Australia.- Greyhound Racing New South Wales (GRNSW) has shared its financial results for the 2024/25 financial year. It posted an operational surplus of AU$1.49m (US$964.069), representing a AU$18.2m (US$11.7m) turnaround after a loss of AU$16.7m (US$10.9m) in the 2023/24 financial year.
Wagering revenue was AU$2.8bn, up by AU$3.2m (US$2m) year-on-year, while direct racing expenses were cut by AU$3.8m (US$2.4m). Cost control across most operating expense categories producing AU$7.7m in savings.
The body noted that it conducted a record number of races, had a record number of starters compete and recorded the third-highest wagering turnover in its history. It also had a record year for the placement of greyhounds in homes through the Greyhounds As Pets programme while major injuries fell to the lowest rate on record.
The measurement of catastrophic injuries per 1,000 starts was 0.15 – the lowest since records commenced in 2015-16. The past year saw a 27 per cent reduction year-on-year.
Steve Griffin, chief executive officer, said: “We are very proud of the results shown in the Annual Report. The outcomes which the organisation and the industry have been able to achieve over the last 12 months clearly demonstrate that we are on the right trajectory for a thriving and sustainable future.
“What is very pleasing is that in FY24-25 a total of 1,634 greyhounds were pet placed into homes through our GAP domestic and overseas programs, an increase of 11.76 per cent on the previous year. Additionally, during FY24-25, a total of 2,759 greyhounds were desexed in preparation for pet placement, 17.6 per cent up on FY23-24.”
He concluded: “It is very pleasing to see such results right across the industry, but we cannot – and will not – bask in our successes. That is why the industry as a whole, through key stakeholders, clubs, administrators and participants, worked together to introduce the Blueprint for our industry’s future earlier this year.”
