Sydney Turf Club

As issued by Racing NSW

In recent months Racing NSW has been working with NSW race clubs to ensure that prizemoney not paid due to the EI shut down is not lost to participants. As a result, the following prizemoney increases will take effect on metropolitan races effective from 1 April 2008.

• Metropolitan Saturday prizemoney will increase by $5,000 per race over the levels in place prior to the outbreak of EI. This will increase prizemoney for Saturday metropolitan races to a minimum of $70,000 per race.
  
• Metropolitan midweek prizemoney will increase by $2,000 per race over the levels in place prior to the outbreak of EI. This will increase prizemoney for weekday and Sunday metropolitan races to a minimum of $27,000 per race.

In assessing prizemoney increases, the opportunity has also been taken to address the anomaly existing between some Listed Races and minimum Saturday prizemoney. In some instances non-feature Saturday prizemoney and BOBS bonuses have been more financially attractive than contesting Listed Races.

As such the prizemoney for all Listed Races has been increased to $100,000, also effective from 1st April 2008.

These prizemoney increases are in addition to increases in provincial and country TAB prizemoney taking effect during February and March 2008.

Racing NSW Chief Executive, Peter V’landys, stated: “These prizemoney increases reiterate the commitment of Racing NSW and the racing industry to minimise losses to participants from EI. It also continues Racing NSW’s policy of ensuring that racing remains financially attractive to all owners.”

AJC Chief Executive, Norman Gillespie, said: “The AJC has been working with Racing NSW as it believes it is imperative to maximise returns to participants. With other initiatives in place we will continue to work with Racing NSW to further increase these returns.”

STC Chief Executive, Michael Kenny, provided his club’s backing: “We fully support the initiative and will increase the prizemoney on our Saturday and midweek races and lower end Listed Races. This provides a significant boost for Sydney racing and its owners as we recover from EI”.

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