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Racing club prize money increased

Posted on August 24, 2009, 10:10am and updated on August 25, 2009 at 8:16 am

The Thoroughbred Racing Board has announced that the Mount Gambier Racing Club has been elevated to Provincial status, giving the club access to increased levels of prize money and funding.

Port Lincoln Racing Club has also been elevated from Country to Provincial status, with both moves effective from February 1 next year.

The elevation means prize money for races at Mount Gambier will leap by more than 60pc under TRSA’s new prize money structure announced yesterday.

Thoroughbred Racing Board chief executive Jim Watters said the move was further evidence of Thoroughbred Racing SA’s commitment to racing across the state.

“These two areas are vital to the future of racing in this State and each of them has special challenges: the Eyre Peninsula and the North have isolation to contend with, while the South-East has strong competition from Victorian Racing,” Mr Watters said.

“The Thoroughbred Racing Board strongly believes in driving growth across the whole of South Australia rather than just the metropolitan areas.

“This move will allow Mount Gambier and Port Lincoln to take another step toward a more profitable future for their clubs and for the many involved in the racing industry in their local communities.”

Currently, Mount Gambier Open races are held at Country status for $7750. That will almost double – to $15,000 per Open race under the club’s new Provincial status when the prize money increases become effective on February 1, 2010.

There are major stakes increases across the board. Metropolitan Opens will rise to $50,000 and juveniles, fillies and mares’ Opens to $40,000 with no race at a metropolitan meeting for less than $25,000. Country Open races will rise to $10,000.

Feature Cup days have also been recognised at both Provincial and Country race meetings, with Provincial Cups to be run for $40,000 and Country Cups increased to $15,000.

A further 24pc increase across the board over a 12 month period will apply as of February 1, 2010 — the fourth increase since the new Thoroughbred Racing SA Board took office 20 months ago.

Thoroughbred Racing Board chairman Philip Bentley made the announcement at yesterday’s 2009 SA Thoroughbred Industry Awards ceremony at Allan Scott Park, Morphettville.

“The South Australian racing industry is now fundamentally stronger when compared with recent years,” Mr Bentley said.

“We are now seeing consistently strong growth in TAB revenue, betting operations contribution and wagering turnover while the continued phase out of the betting turnover tax is also having a very significant positive effect.

“This has allowed us to fast-track our prize money strategy, bringing forward these increases by more than two years. The industry has come a long way in a comparatively short time to the point where we are now on a much more competitive footing.”

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