Racing Qld reveals a $12m loss for 2014-15
A STATEMENT from the previous Board of Racing Queensland, issued by dismissed chairman Kevin Dixon, makes some telling points about the financial position of Racing Qld.
According to Racing Minister Bill Byrne, RQ showed a loss of $12 million in the 2014 - 15 year with a forecast loss of $28 million in 2015-16.
The board statement says that the financial position of RQ at the end of April (the board was dismissed at the end of May), showed a loss of $5 million for the year. It states that this loss "was entirely driven by lower-than-budgeted thoroughbred wagering revenue driven by the extended closure of Eagle Farm and the unexpected delay in the relaunch of UBET".
Other later costs to the racing industry included the cost of the Greyhound Review, Commission of Inquiry and the Police Task Force, plus a number of loans made to Clubs for necessary improvements and preliminary project costs at Eagle Farm, the Gold Coast and Albion Park. These costs were to be recovered in 2015/16 and beyond. The statement indicated that a major reason for the decrease in cash reserves was the repayment of a $12 million loan taken by the previous board to build a stable complex at the Sunshine Coast.
Since January this year, the board had been unable to consult with the government on any activity that would have enhanced these strategies. In addition the board maintains that any of its suggested strategies to improve the financial position of RQ were routinely ignored by the government.
Racing Minister Bill Byrne has announced a plan for a widespread consultation with all sectors of the racing industry and interested parties in August and September to derive a plan for the sustainable future of racing in Qld. Delegates representing, owners, jockeys, trainers, TAB clubs, country clubs associations, breeders, Magic Millions, RSPCA and other interested parties will attend industry meetings as part of this consultation.
Zinc 96 race day
Each of the three harness races to be held after tomorrow's thoroughbred races on the Gympie Racecourse has attracted seven starters. Six will start from the front row of the mobile with one in the second row with each event (for pacers) contested over 1500m starting at the top of the straight. The history-making events each carry $1500 in prizemoney with $1005 to the winner, $300 for second, $150 for third and $45 for fourth. The track will be watered and rolled after the final thoroughbred race at 3pm with the first harness race is set to begin at 3.50pm.
The trainers and Jockeys Premierships in Gympie appear to be almost decided before tomorrow's final Gympie race meeting for the 2014-15 season. With nine wins and 14 places for the racing year, Barry Gill leads the premiership from Kerry Munce with seven wins and 13 places, although the final award is determined on a points basis taking in to account both wins and placings. Barry Gill has seven runners engaged tomorrow with the Munce stable to saddle up six horses. Billie-Rose Derbyshire has four wins and 10 placings to lead the jockey stats ahead of Kelly Gates with three wins and four places followed by Natalea Summers with two wins and three placings.
Compton takes Gold
Toowoomba trainer Jackie Compton took out last Saturday's Bundaberg Gold Cup with Mossman five-year-old, Storm Magic ridden by 3kg claimer, Michael Schrapel. Storm Magic, who led all the way, made it three wins in a row as he had previous won at Kilcoy and Warwick, both over 1500m. Gympie's Kellie Gates had a winning double at Bundaberg Cup meet beating home top Brisbane jockey, Glen Colless on both occasions.