Harold Park Facts:
Harness Racing - Industry Restructure and Finances

The Harness Racing Industry in New South Wales is at the cross-roads of its continuing existence as a viable sport in NSW.

This industry employs some 29,000 in NSW and has a direct participation rate of over 100,000. These people are average citizens and the sport is generally recognised as being very family orientated with strong local community involvement.

Harness racing also provides an economic benefit to NSW in the vicinity of $683 million each year, which benefits the entire community. The industry provides Government with some $44 million in taxes annually, including wagering tax, payroll tax and GST.

A review of the state of the NSW Harness Racing Industry over the past decade and projection of activity over the next five years highlights the need for strong, strategic action by Harness Racing NSW (the Statutory body) if harness racing is to remain a relevant, viable part of the racing industry.

The Industry requires significant, sustained investment and financial stimulus to arrest and reverse the decline. It is clear that in the current economic climate there is little possibility of government financial assistance, which has been forthcoming in other States.

External revenue streams such as the TAB Distribution are not projected to grow in real terms to the level necessary to fund the investment required to secure the future of the industry.

Failure to act will lead to ongoing contraction of the industry with regional and rural areas being the first and hardest hit. There is also the risk that any further contraction of the industry (especially in regional and rural areas) will be permanent, resulting in loss of employment, investment and sporting opportunities for local communities.

The relocation strategy provides direct benefits to the Club and the industry in NSW, namely:

• To relocate and carry out major upgrades to the Menangle Park Paceway at an estimated cost of some $15m - improved and expanded facilities will include new grandstand facilities, new stabling and training facilities, new spectator support facilities, new function and exhibition facilities, potential Paceway accommodation and the regeneration of a licensed club, all aimed at reducing the reliance on TAB distributions.

• The repayment of some $25million in loans to the Harness Racing Racecourse Development Fund and

• Increases in prize money to establish a stronger financial base for the industry.
  

Harness Racing NSW has also committed to redirecting the RDF monies to:

• Provide funding for regional Paceway facilities including $5m – Riverina; $3m – Bathurst; $4m – Tamworth

• Halt the leakage of racing interests to Western Australia, Victoria and other states, by increasing prize money in NSW and

• Stimulate the breeding industry.