New South Wales commits to thoroughbred racing

In Australia, the government for New South Wales has committed to spending a record amount of $156 million in order to protect the future of thoroughbred racing in the nation’s most populous state.

The plan was announced earlier this week with Premier Kristina Keneally revealing that the funds would help to protect up to 50,000 jobs and enable major upgrades to Sydney’s Rosehill Gardens Racecourse and Royal Randwick Racecourse following a proposed merger of the Australian Jockey Club and Sydney Turf Club.

“This is the biggest step in securing the future of the racing industry in New South Wales,” said Kevin Greene, Racing Minister for New South Wales.

“New South Wales is the home of racing in Australia. Put simply, the investment in spectator facilities and reforms to New South Wales racing are essential if we are to secure the future of tens of thousands of jobs, grow one of our state’s most significant industries and continue to attract major events to Sydney.

“The New South Wales racing industry boasts more than 50,000 participants, the highest in Australia. Trainers, jockeys, bookmakers, stable hands, associated maintenance, hospitality, security and other staff are the lifeblood of our industry and depend on its sustainability for their livelihood. The Government of New South Wales and I won’t let these hard workers fall behind.”

The funding package would include a grant of $21.5 million for the merged race club to renovate Rosehill Gardens Racecourse while the state would also establish a Thoroughbred Racing Development Fund and allow the industry to secure a loan of $134 million in order to redevelop Royal Randwick Racecourse.

“This initiative of the Keneally Government will provide the means by which racing in Sydney will again become the place to be with world-class facilities at both Royal Randwick and Rosehill Gardens,” said Alan Brown, Chairman for regulator Racing New South Wales.