Racing industry looking forward to bright future

Racing Minister Steve Dickson said the Cairns racing industry had welcomed the Queensland Government’s new 30-year wagering agreement which will provide industry stability around the state.

Mr Dickson said the Queensland Government’s exclusive retail wagering licence with Tatts Group, announced last Friday, was expected to provide over $4.5 billion to the Queensland racing industry. 

“The response from industry right around the state in the past few days has been very positive,” said Mr Dickson.

“From the Caloundra Cup last Saturday to Cannon Park, here in Cairns, industry has rallied around the fantastic deal that we have struck and everyone is telling me the future looks bright.

“The Government has been unwavering in our determination to negotiate the best possible deal for Queensland. The new agreement marks a great new era for the state’s racing industry, as the LNP continues to deliver upon its commitment to rebuild racing in Queensland.

“We have a strong plan to grow Queensland’s economy and this deal provides an extra $850 million funding in addition to the $130 million per year under the existing arrangements.

“For tens of thousands of racing families across the state, this agreement provides security for the next three decades and a platform for future growth.

“Importantly, country racing and infrastructure investment will both be supported. A key part of the agreement includes $97 million for infrastructure development and $5 million over five years for country and regional racing. 

Member for Cairns, Gavin King MP said the new wagering agreement provided security for racing families across Far North Queensland for the next three decades.

“Racing is going from strength to strength under the LNP,” said Mr King.

“Cannon Park has already benefitted from a $1.96 million makeover as part of the Racing Industry Capital Development’s Scheme, and this new agreement is a shot in the arm for the industry.

“This will encourage the next generation of industry participants - whether they are jockeys or trainers - to stay with the sport and I look forward to more details about future investment in racing over the coming months.”

Cairns Jockey Club, CEO, Graham Thornton said the agreement delivered a fairer wagering system and some long term sustainability for the industry.

“It is very encouraging to see a deal achieved to assist racing in Queensland.  It’s especially significant that Tatts has committed to investing more into the promotion of racing through a long term partnership," said Mr Thornton.

[ENDS] 2 July 2014           

Contact: Michelle Buckworth 0418 433 647