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Racing Vic "Under Attack" Over Wagering Fees Model

Thursday, 3rd June 2010

Racing Victoria "is under attack from concerned owners & breeders over its policy on the wagering operators fees model," reported The Daily Telegraph. Unlike Racing NSW (which charges a percentage of turnover) RV "has determined all wagering operators must pay a minimum 10% of gross profits". The RV policy "angered owners & breeders after it was learned last week that RV subsidised a corporate bookmaker's losses in April". Earlier this week, Victorian Thoroughbred Racehorse Owners' Association chairman Andrew Lafontaine declared the "only viable option" for the racing industry was the turnover model & called into question the competence of the RV executive. The newspaper noted: "It is believed the RV board, which meets today, is divided on the contentious wagering model issue. The RV board is understood to have received numerous correspondence from disenchanted owners & breeders in recent days, many supporting Racing NSW's decision to impose a 1.5% fee on turnover as the best option for the racing industry."

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