{"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

Results were impacted by a softer wagering market.<\/p>\n\n\n\n\n\n\n\n

Australia.- 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 softer wagering market <\/strong>across all racing products and ongoing inflationary pressures.<\/p>\n\n\n\n

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 (RFIU<\/strong>) fees dropped by AU$4.8m.<\/p>\n\n\n\n

Expenditure rose by AU$15m, while AU$55.2m in prize money and travel support was allocated to participants. That’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

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

See also: <\/strong>Tasmanian petition calls for end to state funding for greyhound racing<\/a><\/p>\n\n\n\n

Wayne Billett<\/strong>, GRNSW acting chief executive officer, said: “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

\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

\u201cGRNSW has taken prudent steps to align our cost base with forecasted wagering market performance. I’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

See also: <\/strong>GRV posts full-year results<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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}]}}