Greyhound prizemoney increase

[Dogwatcher]

MEDIA RELEASE
FOR IMMEDIATE USE
Friday 30th May 2008

GRSA ANNOUNCES $500,000 PRIZEMONEY INCREASE

Greyhound Racing SA (GRSA) today announced an increase in prize money of over $500,000 for the next financial year.

The announcement was made at a members meeting this morning with GRSA committing to pass on all the government’s tax relief to the industry.

GRSA Chief Executive Officer Mr. Peter Ali said, “Increased prize money will benefit participants across the state with stakes for metro and regional races set to rise from July 1.”

“Our quick response to the Bentley report and the Minister’s decision to provide tax relief as a consequence has provided a significant boost to the local industry.”

“Today, we are honouring our commitment to hand back the full tax relief in prize money.”

The increase in prize money will take the total pool for South Australian races to over $3.5 million for the 2008/09 financial year.

“This financial year has been a challenging one and GRSA is pleased to have paid out prize money in excess of 2007/08 budgeted levels, despite the fallout from the Equine Influenza,” said Mr. Ali.

“2008/09 looks to be a promising one for the industry.”

In 2008/09, GRSA will benefit from being able to react quickly to SKY Channel’s request to stage additional races and fill gaps in the Australian racing calendar caused by the Equine Influenza crisis.

Greyhound racing’s average market share is expected to rise by around 2 per cent.

Greyhound Racing SA plans to use the income from increased market share to undertake refurbishment of the McQueen’s Tavern complex and replenish cash reserves, which have been significantly depleted over the last few years.

“McQueen’s Tavern provides a valuable source of income, which has in part helped to underpin the cost of running greyhound racing in South Australia in recent years,” said Mr. Ali.

“With Angle Park and surrounding suburbs continuing to grow, we need to ensure our facilities continue to attract new partons and provide a valuable source of revenue.”

[mighty_tiger_79]

they are also bringing back the fuel allowance which they got rid of a few years back which was how the Collins crew were getting extra cash, but they have made some changes to it.

[norm11]

about time