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NZ Racing Leaders United On Priority For Industry
Leaders of New Zealand's thoroughbred racing industry held a robust and positive meeting at Ellerslie on Sunday where they discussed the pressing need to lift financial returns to the sport. The meeting discussed a number of important issues including the status of race field legislation, fixed odds betting and other important strategic opportunities. "There was clear alignment between all present about the importance of the race field legislation currently in progress; the financial and strategic benefits of this legislation will bring the industry," said New Zealand Racing Board (NZRB) Chair, Glenda Hughes. "We will be continuing to work with Government officials to progress this legislation, which will require overseas bookmakers to paying a fee for taking bets on New Zealand race events." During the meeting NZRB Chief Executive John Allen outlined his full confidence that the current NZRB management strategy will produce an additional $45 million of code distributions in 2018/19, growing to $60 million of additional funding in the 2019/20 season, from the implementation of race field legislation, automation of a world best practice fixed odds betting systems and customer and channels improvements. Mr Allen and Ms Hughes heard the concerns of industry stakeholders, and recognised the need for increased industry support in the short term until the initiatives start to deliver returns to ensure the sustainability of participation and investment in New Zealand racing.