HRNSW Prizemoney and Operational Cost Reductions

01 May 2020
Logo

Due the profound impact on wagering revenue brought on by the COVID-19 pandemic HRNSW has reluctantly taken the measure to reduce base prizemoney levels by 20% and cut operational costs.

“This was a difficult decision to make however with the significant downturn in wagering revenue what with the TAB retail outlets closed as well as agencies in Clubs and Pubs, HRNSW had no other alternative but to reluctantly reduce prizemoney and cut other non essential costs.” Chief Executive John Dumesny explained.

Other cost savings which have or will be undertaken are:

HRNSW administrative (staff) and operations costs reductions.

Major infrastructure projects such as the Bathurst Training Centre Development, Tamworth Training Centre Refurbishment and Gold Crown Paceway property purchase will be put on hold.

Industry Drought Assistance will cease from May 3.

Discretionary funding arrangements with Clubs will be addressed with those respective Clubs however these have either been reduced or withdrawn.

“With respect to major races such as the Miracle Mile the $300,000 funding provided by HRNSW unfortunately has been withdrawn.”

“The Board Members of HRNSW however elected not to reduce the administration funding and subsidies for Clubs but a stakeholders’ review of the breeding schemes will be commenced in May.”

“HRNSW will also call on Club administrators and Association leaders to consider and propose a plan with respect to an appropriate difference in the levels of the prizemoney categories.”

“When wagering revenue has recovered at a sustainable level base pizemoney will be restored.” Dumesny added.

Commencing from race meetings conducted on Monday 11th May 2020 category A meeting races will carry base prizemoney of $5,200 and category B meeting races will be contested for $4,800. This represents a 20% reduction in base prizemoney.

There are 1,588 A category meeting races and 1584 B category meeting races conducted in NSW each year.
 
Prizemoney offered for Metropolitan and Tuesday Meetings at Tabcorp Park Menangle will be determined by the Directors of Club Menangle.

 

Related News

12 June 2021
"Sore" but steely Phillips quick to bounce back from Croc shock
Michelle Phillips is a little battered and bruised but bouncing back after a Thursday fall, and hopes to be back in the sulky next Tuesday. The reinswoman was driving Crockrock in Thursday’s Momentum Gaining Pace at Kilmore on Thursday night when the four-year-old fell while leading, and Phillips...
12 June 2021
Goodform Gameplan: Melton Sat 12th June
Jason Bonnington has a stack of betting options for you tonight at Tabcorp Park Melton. Get race ready with the Game Plan, tips, speed maps and all-important confidence meter.
11 June 2021
Friday Form Panel: Bon and Skeet tipping a Lee double
Harness Racing Victoria form analysts Jason Bonnington and Nikkita Ross are tipping a big Saturday night for Terang trainer Margaret Lee at Tabcorp Park Melton. Bonnington and Ross think that Lee’s stars Code Bailey and Keayang Livana will win their respective races, the TAB Italian Cup and the...
11 June 2021
Trots Centre: Miles hoping top trio can make giant Strides
He might not come away with any success, but David Miles has an exciting night ahead at Victorian headquarters on Saturday. The Monegeetta-based trainer-driver will take a team of five to Tabcorp Park Melton, including top-liners Jamieson Steele, Enchanted Stride and Emerald Stride for their first-up...
11 June 2021
Visionary 'down under' breeder making his mark on the world stage
As Lot 257 stepped into the ring at the Fasig-Tipton Sales Pavilion in early October 2020, a hush came over the audience, and for the three minutes that the filly was in the arena there was a sense that history was being made. Not only from the audience at Lexington but a breeder-vendor watching the...
Click for more