NIGHT RACES AT RANDWICK IF TAX DEAL PROCEEDS
NIGHT racing could come to Royal Randwick as early as next season if the NSW Liberal / Baird government signs off on a fairer wagering tax deal for NSW racing.
Racing NSW wants night racing to switch to Randwick as its Sydney venue but has reservations since it will require at least $10 million investment for floodlights.
Night racing attracts huge crowds at venues like Hong Kong’s Happy Valley.
Having racing until 10.30pm at Randwick would also allow Asian based gamblers to bet on the Sydney races.
Floodlit racing could begin at Randwick next season — if Racing NSW can convince the Liberal / Baird Government to ease its fiscal policy on wagering revenues.
For every $100 wagered on the NSW TAB, the NSW government takes $3.22 compared with only $1.28 taken by the Victorian government.
If the Victorian rate was applied in NSW, Racing NSW forecasts it would have an extra $70 million a year for prizemoney and investments. That would ensure Racing in NSW would have the highest returns to owners throughout Australia.
Randwick is the perfect venue for night racing. It’s close to the CBD and major transport links. Also with the introduction of the Light Rail by the NSW Government taking patrons to the front door it will become an ideal entertainment precinct.
Racing NSW believes a resolution with the Liberal / Baird government is close. “In racing terms we’re into the home straight with the government, we’re just not at the winning post yet,” he said.