An “uneven playing field” which sees syndicators subject to greater compliance than trainers when it comes to the promotion or sale of racehorses is likely to continue, as Australia’s lead corporate regulator reviews the laws around managed investments.
The future power dynamic between Racing NSW and the Australian Turf Club now lies in the hands of three senior judges after legal argument concluded in the crucial appeal against the ATC’s bid to defy administration.
While Racing NSW’s legal team argued that its power over the state’s racing clubs extended beyond matters on the track during a Court of Appeal hearing, the Australian Turf Club is adamant that the initial Supreme Court ruling, which prevents it from being placed into administration, should hold.
Former Australian Turf Club vice chair Julia Ritchie believes that racing needs to tap into its unique culture of family connections and lifelong friendships if the NSW industry is to move forward from the rancorous period caused by the fallout from the failed proposal to sell Rosehill racecourse.
While the Australian Turf Club defends its right to stay out of Racing NSW-imposed administration at the NSW Court of Appeal, the racing regulator will argue that its effectiveness relies on its power to intervene in major club matters.
The importance of Australia’s biggest races to wagering turnover in New Zealand has been borne out in the latest figures released by Entain NZ.
Blake Matthews has been appointed the permanent chief financial officer of corporate bookmaker betr.
The governance of Racing NSW’s board has been brought into question by a key industry lobby group, which has expressed concern that chief executive Peter V’landys will be allowed to work for a rival sporting organisation while on long-service leave.
Sportsbet has appointed Doug Brown as its new chief executive officer after it was confirmed long-serving executive Barni Evans has taken an expanded role with global parent company Flutter.
The man who will fill the shoes of Peter V’landys while the racing administrator takes four months’ leave from July, Graeme Hinton, says he covets the role as Racing NSW CEO, and is eager to step up on a permanent basis should V’landys opt to leave.
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