Wagering companies make submissions to Queensland Racing Review

Several of Australia’s leading wagering companies are making submissions for the Queensland government’s racing review, the deadlines for which close this Sunday.

Racing Minister Tim Mander announced on March 1 that the Crisafulli government’s review process into the $2.4 billion racing industry had begun with a call for public submissions.

The relatively short deadline for submissions, which close on March 30, had caught some by surprise, with major wagering service providers hustling to get their submissions in on time.

Major bookmakers spoken to by The Straight confirmed their submissions will be filed by the end of this week. Their submissions are expected to focus on the current funding model on the three codes of racing.

While there are no specific terms of reference for the review, the Government identified seven key points in a discussion paper it has published titled “On Track: Ensuring a sustainable and vibrant future for Queensland racing sector.”

They include infrastructure, governance and integrity, cost management, workforce, country racing, animal welfare and growth.

It is expected that a more specific focus on the review will emanate from public feedback. The wagering companies are expecting further in-detail consultation and discussions throughout the review process.

The Racing Minister’s discussion paper has said the review aims to identify and recommend the necessary actions in five key areas.

“The review will examine all aspects of the industry in order to ensure financial sustainability and long-term viability of all three codes,” Mander said in the paper.

“It will look to further strengthen the integrity of Queensland’s racing industry as well as recommend the necessary steps to deliver modern and fit for purpose infrastructure and safeguard the ongoing strength.

“Above all, it will foster a collaborative relationship among stakeholders to recognise that long-term viability and growth of each of the racing codes is delivered with high animal welfare standards as a priority.”

Public submissions close at midnight on Sunday, March 30.

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The funding model which underpins Queensland racing was significantly altered in 2022, when a deal was done which would see 80 per cent of Point Of Consumption tax delivered to Racing Queensland (RQ).

At 20 per cent, Queensland has the highest Point Of Consumption Tax revenue of any state (ACT has 25 per cent).  

That deal also included the end of an exclusive wagering partner agreement with Tabcorp, which put it on what the publicly listed wagering giant described as a ‘level playing field’ to other WSPs. However, Tabcorp retained an exclusivity over retail wagering.

The deal ended a long-running Supreme Court case between RQ and Tabcorp which contributed $150 million to racing as part of the settlement.

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The effectiveness of the new funding model, which was agreed to under the previous Labor government, is expected to be among the items discussed by the racing review.

According to government figures, thoroughbred racing contributes $1.8 billion to the Queensland economy annually, while harness racing contributes $232 million and greyhound racing $344 million.