{"id":777020922,"date":"2024-11-22T08:51:01","date_gmt":"2024-11-22T11:51:01","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777020922"},"modified":"2026-04-22T03:58:20","modified_gmt":"2026-04-22T06:58:20","slug":"greyhounds-in-australia-grnsw-posts-full-year-loss-of-us10-9m","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/greyhounds-in-australia-grnsw-posts-full-year-loss-of-us10-9m","title":{"rendered":"Greyhounds in Australia: GRNSW posts full-year loss of US$10.9m"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Results were impacted by a softer wagering market.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">Australia.- <strong>Greyhound Racing New South Wales (GRNSW) <\/strong>has shared its financial results for the 2023\/24 financial year. It posted an AU$16.7m (US$10.9m) loss amid a<strong> softer wagering market <\/strong>across all racing products and ongoing inflationary pressures.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Wagering on greyhound racing was down 8 per cent in year-on-year terms to AU$2.67bn, while wagering income from TAB and corporate bookmakers also fell. Race Fields Information Use (<strong>RFIU<\/strong>) fees dropped by AU$4.8m.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Expenditure rose by AU$15m, while AU$55.2m in prize money and travel support was allocated to participants. That&#8217;s a rise of 4.99 per cent compared to the last year. The investment in track safety rose 172 per cent year-on-year to AU$10.2m while the Greyhound Care Scheme 2.0 (GCS 2.0) allocated AU$1.44m in rebates to participants.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The occurrence of catastrophic injuries reached the lowest level since record-keeping began in 2015-16, decreasing to 0.21 per 1,000 starts, a drop from 0.65 in 2022-23.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>See also:&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/tasmanian-petition-calls-for-end-to-state-funding-for-greyhound-racing\" rel=\"noreferrer noopener\">Tasmanian petition calls for end to state funding for greyhound racing<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Wayne Billett<\/strong>, GRNSW acting chief executive officer, said: &#8220;Like for many organisations, FY23-24 presented its challenges to our operating environment. Similar to other racing organisations across the country, the softer wagering market significantly impacted GRNSW\u2019s income.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWe invested over AU$6m in the state-of-the-art Taree track upgrade and continued to develop the US adoption pathways program, which, in its first full year of operation, successfully rehomed 668 greyhounds in North America.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cGRNSW has taken prudent steps to align our cost base with forecasted wagering market performance. I&#8217;m particularly pleased that, thanks to the strong results from previous years, we maintained full support for our participants and animal welfare initiatives, reaffirming our pursuit of excellence throughout FY23-24.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>See also: <\/strong><a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/greyhounds-in-australia-grv-posts-full-year-results\" rel=\"noreferrer noopener\">GRV posts full-year results<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Results were impacted by a softer wagering market.<\/p>\n","protected":false},"author":176,"featured_media":777003546,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Greyhound Racing New South Wales (GRNSW) reported an AU$16.7m loss for FY23\/24, primarily driven by an 8% decline in wagering revenue amidst a softer market and inflationary pressures. Despite financial headwinds, GRNSW increased investment in track safety by 172% and animal welfare initiatives, achieving the lowest catastrophic injury rate since 2015-16.","focusai_entities":"Greyhound Racing New South Wales (GRNSW), TAB, Wayne Billett, Greyhound Care Scheme 2.0 (GCS 2.0), GRV","focusai_location":"Australia, New South Wales, North America, Tasmania","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.7), operator_casino (0.7), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Future RFIU Strategy?","query":"What specific strategies will GRNSW implement to mitigate the ongoing decline in Race Fields Information Use (RFIU) fees and diversify revenue streams in a challenging wagering market?"},{"label":"FY24\/25 GGR Forecast?","query":"Given the persistent softness in the wagering market, what is GRNSW's revised Gross Gaming Revenue (GGR) forecast for FY24\/25, and how will this influence capital allocation for participant support and infrastructure?"}],"footnotes":""},"categories":[16336,163],"tags":[233],"class_list":["post-777020922","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-finance-news","tag-sports-betting"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020922","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=777020922"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020922\/revisions"}],"predecessor-version":[{"id":777020936,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020922\/revisions\/777020936"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777003546"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777020922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777020922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777020922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}