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Turnover Based Fees For Australian Racing
03/30/2012 : AUSSIE COURT DECISION ON RACING FEES FOR BOOKIES APPLAUDED BY TABCORP
High Court ruling on NSW race fields fees will impose a turnover based fee on wagering operators.
The major Australian gambling group Tabcorp has welcomed the New South Wales Race Fields decisions handed down this week by the High Court, which ruled in favour of Racing NSW’s and Harness Racing NSW’s race fields fee conditions, imposing a turnover based fee on wagering operators that could impact online companies like Sportsbet and Betfair.
The High Court permitted Tabcorp to intervene in the Sportsbet proceedings and Tabcorp was not a party to the Betfair legal proceedings, but maintained an interest in the outcome of both proceedings.
The judgments will allow the racing industry to decide what price to set for its product and give it flexibility to determine the method by which that price is set.
“Australia’s thoroughbred, greyhound and harness racing industries are significant employers and part of Australian culture. It is important that racing is able to charge a fee for its product that allows it to continue to be successful,” said Tabcorp chief executive officer David Attenborough.
“The overwhelming view of the Australian racing industry and those interested in its long-term future is that the NSW Race Fields regime should be maintained.”
Tabcorp is currently reviewing the full judgments, which will be available at www.austlii.edu.au.
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