Canberra Racing Club chairman Les Boag has urged authorities to increase revenue allocation from the PoCT.<\/p>\n\n\n\n\n\n\n\n
Australia.- Canberra Racing Club (CRC)<\/strong> chairman\u00a0Les Boag<\/strong> has called for the Australian Capital Territory government to emulate South Australia’s approach and allocate a larger share of Point of Consumption Tax (PoCT) revenue to the racing industry.\u00a0<\/p>\n\n\n\n From July 1, the ACT government raised the PoCT from 20 to 25 per cent, expecting an additional AU$32m. However, Boag argues that, unlike other Australian states, the ACT government does not provide any portion of the PoCT revenue back to the racing industry.\u00a0He said other states and territories return between 20 to 80 per cent to support their respective racing codes. He said a lack of adequate funding has been a longstanding challenge for racing in the ACT.\u00a0<\/p>\n\n\n\n A 2022 Equinox study commissioned by the CRC revealed that per capita, ACT racing receives less than half the government funding of South Australia and a third of other states. Additionally, ACT racing prizemoney lags behind New South Wales and Victoria, reaching only about a third of the latter’s funding and half of Tasmania’s.<\/p>\n\n\n\n Boag urged the ACT government to reassess its funding approach and ensure equitable support for the racing industry. He cautioned that the continuous increase of PoCT could lead wagering companies to adjust their markets and services, potentially affecting ACT’s betting landscape.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":" Canberra Racing Club chairman Les Boag has urged authorities to increase revenue allocation from the PoCT.<\/p>\n","protected":false},"author":176,"featured_media":17953,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Canberra Racing Club (CRC) chairman Les Boag advocates for the Australian Capital Territory (ACT) government to reallocate a portion of its increased Point of Consumption Tax (PoCT) revenue to the racing industry, mirroring practices in other Australian states. The CRC highlights a significant funding disparity compared to other jurisdictions, impacting prizemoney and industry sustainability. Boag warns that continued PoCT increases without industry reinvestment could prompt wagering operators to adjust market offerings within the ACT.","focusai_entities":"Canberra Racing Club, Les Boag, Equinox","focusai_location":"Australia, Canberra, Australian Capital Territory, South Australia, New South Wales, Victoria, Tasmania","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.7), operator_casino (0.9), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"PoCT Reallocation Impact","query":"What specific economic models or governance frameworks are being proposed by the Canberra Racing Club to justify a revised PoCT revenue allocation, and what is the projected GGR impact for ACT wagering operators under such a model?"},{"label":"Operator Market Adjustments","query":"How might major B2C wagering operators strategically adjust their product offerings, marketing spend, or market presence in the ACT in response to sustained PoCT increases without industry reinvestment?"}],"footnotes":""},"categories":[16336,157],"tags":[233],"class_list":["post-777007773","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","tag-sports-betting"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777007773","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777007773"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777007773\/revisions"}],"predecessor-version":[{"id":777007784,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777007773\/revisions\/777007784"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17953"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777007773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777007773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777007773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}