Tabcorp chief David Attenborough said he is lobbying the Australian government for a viable funding model to support the nation’s racing industry.The boss of Australia’s largest betting firm said the unequal national regulations, which allowed different contributions in different territories, could affect its future.
“We believe it’s not just really about Tabcorp, it’s also about the funding of the racing industry,” he said. “Last year we funded as Tabcorp $730m to the racing industry – that’s over five times our net profit. Compare that to the levy in the UK of £80m from all bookmakers. So it’s a very effective funding model.
“My message to the racing industry and the government is – ‘you’ve got to sort the funding model out otherwise you’re just going to see a degradation in your industry and perhaps closing; it will become a mess over the next five to 10 years”, he added.
source : www.totallygaming.com
