GRV posts $470,000 surplus as Victorian greyhound wagering turnover falls 5.7 per cent

Greyhound Racing Victoria (GRV) has recorded a $470,000 surplus for 2025–26 while national turnover from wagering on Victorian greyhound racing fell 5.7 per cent to $2.845 billion over the year.

The code’s racefields fee income dropped by more than $4 million.

The figure, set out in the annual report tabled in Victorian parliament last week, is GRV’s comprehensive result after non-cash revaluation adjustments, compared with $2.677 million in 2024–25.

Revenue rose 1 per cent to $137.1 million, while expenses grew 2.3 per cent to $136.5 million.

Bet numbers fell 8.1 per cent to 152 million, partly offset by a 2.6 per cent rise in average bet size to $18.77.

Corporate bookmaker turnover fell 4.8 per cent to $2.080 billion, interstate TAB turnover was down 9.6 per cent and VicTAB turnover decreased 5.6 per cent.

GRV said the decline was partly attributable to limits on household spending, wider economic conditions and competition for discretionary entertainment spending.

Racefields fees fell from $70.642 million to $66.488 million. The shortfall was covered by Point Of Consumption Tax (POCT) receipts, which rose from $30.881 million to $35.380 million, along with higher government Victorian Racing Industry funding and vision rights income.

The industry’s share of state POCT revenue rose to 50 per cent from July 2024 under the arrangements attached to Tabcorp’s new Victorian licence.

“At a time when other jurisdictions are investing heavily in their racing industries, maintaining support at no less than current levels will be essential if Victoria is to retain its leadership in greyhound welfare, integrity, infrastructure and racing excellence,” chair Tom Salom wrote in his foreword.