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December 2011

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					Racing Victoria
Year in Review
December 2011
Contents
Chairman’s Foreword     4    Jockey Wellbeing               19

Financial Performance   8    Workforce Development          20

Wagering Licence        9    Tracks & Weather Impacts       21

Prize Money             10   Projects & Investment          22

IP Assets               10   Metro Club Developments        23

Media Rights            11   Owners’ Participation          24

Internationalisation    12   Strategic Marketing Plan       25

Wagering Performance    13   Communication & Engagement     26

VOBIS Gold              14   Spring Racing Carnival         28

Efficiencies            15   Melbourne Festival of Racing   30

Wagering Review         16   Racing Product                 31

Integrity               17   Racing Enhancements            32

Equine Welfare          18   2012 - The Pathway             34
Chairman’s Foreword



                         2011 marks the 10th year since Racing Victoria’s
                         establishment.

                         The decade past has witnessed many changes
                         across the racing industry including the growth and
                         internationalisation of the Spring Racing Carnival,
                         major infrastructure development at our racecourses
                         and training centres, expansion of the availability and
                         distribution of race broadcast vision and the arrival of
                         a borderless and highly competitive wagering market
                         driven by internet technology.

                         Many of these changes are continuing to evolve
Michael Duffy Chairman   and were prominent in the past 12 months.

                         The recent Spring Racing Carnival was hugely
                         successful and once again attracted a high quality
                         international contingent. The global reputation of
                         the world renowned Emirates Melbourne Cup was
                         further enhanced by Dunaden recording the second
                         consecutive French victory prevailing in the closest
                         of photo finishes and following on from Americain’s
                         success in 2010.

                         Local, interstate and international racing fans
                         continued to flock to the Carnival with attendance
                         numbers holding firm and approaching 700,000 and
                         the economic value of the event expected to once
                         again exceed $500 million.

                         Last year’s relocation of the industry’s quarantine
                         facility from Sandown to Werribee was a complex
                         logistical exercise and it is pleasing to note that
                         the new centre again received high praise from our
                         international visitors. The assistance of the Australian
                         Quarantine and Inspection Service throughout the
                         process was instrumental in avoiding any disruption
                         from the change of location.

                         Black Caviar stamped her name in the history books
                         throughout the year with her mounting unbeaten
                         record helping her secure the IFHA’s official rating
                         as the World’s Best Racehorse in March. The public
                         profile of the champion mare grew with every victory
                         and proved to be a tremendous drawcard. We await
                         with great expectation to see if she can add to her
                         tally of 16 victories in the new year.
Racing Victoria welcomed the Victorian                  The Victorian Government’s financial assistance
Government’s announcement in July 2011 that             was invaluable via both the Regional Racing
Tabcorp was the successful applicant for the new        Infrastructure Fund and the newly established
Wagering and Betting Licence which comes into           Victorian Racing Industry Fund which will deliver
operation in August 2012. Tabcorp has been a            $79.5 million over four years. The VRIF is a
strong partner throughout the term of the current       vital resource for not only racecourse capital
wagering and gaming joint venture and we look           improvements, but is also targeting initiatives in
forward to continuing that productive relationship      the areas of jumping racing, on-course attendance
into the next licence term. The Government fully        promotion, thoroughbred breeding and drug
honoured the commitment that the Victorian racing       research.
industry’s financial arrangements would be no
                                                        A prime example is the Government’s $6.8 million
less favourable under the new licence and indeed,
                                                        support for the new VOBIS Gold breeding incentive
the industry’s funding is expected to improve
                                                        scheme which, together with Super VOBIS, is set
significantly with a guaranteed $1 billion of revenue
                                                        to annually offer $18 million of bonuses for Victorian
in the first three years. Importantly, the new joint
                                                        bred horses. The scheme is a major boost to the
venture will be a genuine 50:50 partnership –
                                                        Victorian breeding sector and will greatly encourage
whereas previously, the VRI received only 25% of
                                                        owners to invest in Victoria.
the joint venture profits.
                                                        The Minister for Racing The Hon Dr Denis
In May 2011, the Racing Victoria Board accepted
                                                        Napthine’s strong commitment to racing through
in principle the recommendations of the Victorian
                                                        these funding measures and other pledges within
Wagering Review which was conducted by leading
                                                        the Liberal Nationals Coalition Plan for Racing is
international consulting firm PwC and chaired by
                                                        widely heralded across the industry.
well respected business advisor and former PBL
Chief Executive, Peter Yates. The detailed report       In closing, I wish to record my appreciation for the
reaffirmed the methodology of charging a wagering       valuable contributions of Racing Victoria Directors
product fee based on a percentage of gross              Peter McMahon, who retired at the 2010 AGM, and
revenue rather than turnover and recommended that       Paul Schauble who will be retiring at the 2011 AGM
the current fees be increased. The new product fee      and welcome their respective successors Michael
regime remains subject to any consequences of the       Caveny and Pearse Morgan.
High Court Challenge to NSW race fields legislation
by Sportsbet and Betfair.                               I also acknowledge the support of my Deputy
                                                        Chairman Peter Sinn and the other Directors
Extensive infrastructure works were undertaken          throughout the year and especially commend the
throughout the year with a total investment of more     outstanding leadership of Chief Executive Officer,
than $10 million including the commencement             Rob Hines, and his highly professional management
of the installation of night racing track lighting      team and staff.
at Cranbourne Racecourse which is due for
completion by early 2012. Flood events on top
of years of drought caused severe track drainage
problems at a number of country racing venues
including Benalla, Kyneton, Kilmore, Moe and            MICHAEL DUFFY
Yarra Valley. The planning and commissioning of         Chairman
restoration works at these tracks was a major
focus throughout the year. At the same time, the
metropolitan clubs continue to advance large scale
development proposals at Caulfield, Moonee Valley
and Flemington Racecourses.


                                                        Racing Victoria | Year in Review | December 2011         5
                    Victorian Racing
                    in Review
                    Racing Victoria’s Racing to 2020 vision is founded
                    on our core values and supported by five key pillars.
                    Racing Victoria is committed to the following:

                                   1. Product, Brand & IP – Creation of world leading
                                      racing product and assets
                      PRODUCT,     CUSTOMERS     OUR PEOPLE INFRASTRUCTURE SUSTAINABILITY
                     BRAND & IP
                                   2. Customers – Market expansion through
                                      innovation and excellence
       PRODUCT,     CUSTOMERS      OUR PEOPLE INFRASTRUCTURE SUSTAINABILITY
      BRAND & IP
                                   3. Our People – Creation of world’s best racing
                                      industry environment
T,    CUSTOMERS     OUR PEOPLE INFRASTRUCTURE SUSTAINABILITY
 IP
                                   4. Infrastructure – Renewal and development
                                      of racing’s physical assets
RS    OUR PEOPLE INFRASTRUCTURE SUSTAINABILITY

                                   5. Sustainability – Sustainable growth
                                      to benefit industry and community
LE INFRASTRUCTURE SUSTAINABILITY
Financial Performance

 PRODUCT,    CUSTOMERS   OUR PEOPLE INFRASTRUCTURE SUSTAINABILITY
BRAND & IP




 PRODUCT,    CUSTOMERS   OUR PEOPLE INFRASTRUCTURE SUSTAINABILITY
BRAND & IP




Racing Victoria’s underlying result from general                    The industry received $202.4 million from its Joint
operational activities recorded a profit of $0.9                    Venture with Tabcorp. The key factors impacting
million for the 2010-11 financial year which, when                  a 2% decrease from the previous financial year
consolidated with related entities/operations,                      included unseasonal weather during the 2010
totalled a profit of $1.4 million for the period.                   Spring Racing Carnival and summer periods and
                                                                    the move in customer preference to fixed odds
Racing Victoria expenditure was down by $9.7
                                                                    wagering.
million through efficiency improvements in RV
operations of $2.6 million and a reduction in industry              Net revenue from out-of-state wagering operators
expenditure of $7.1 million.                                        was $24.3 million, down from $28.7 million in
                                                                    2009-10 due to a transitional payment in the
                                                                    prior period.
Wagering Licence

 PRODUCT,    CUSTOMERS   OUR PEOPLE INFRASTRUCTURE SUSTAINABILITY
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 PRODUCT,    CUSTOMERS   OUR PEOPLE INFRASTRUCTURE SUSTAINABILITY
BRAND & IP

July was a defining month for Racing Victoria with                  The shift from a 75/25 Joint Venture is important
the State Government awarding the next Victorian                    for aligning the interests of all, particularly when
Wagering Licence from August 2012 to Tabcorp                        considering investment in the partnership, and
after an elongated tender process.                                  Tabcorp have furthered their commitment by
                                                                    underwriting their performance for the initial
Racing Victoria is pleased to be renewing our
                                                                    three years.
wagering partnership with Tabcorp who have been a
trusted and valued partner of the industry since the                The most significant change though will be the
commencement of the current licence in 1994.                        removal of gaming revenue from the Joint Venture
                                                                    which is expected to provide the racing industry
Indeed, the ability to continue this positive
                                                                    with over $80 million in the final year of the current
relationship with Tabcorp, rather than establish one
                                                                    agreement.
with a new operator, will greatly assist the transition
process into the new licensing arrangements.                        To compensate the industry for this loss of revenue
                                                                    the Government has decided to reduce its share of
The 12-year licence allows Tabcorp to conduct pari-
                                                                    the 19.1% tax rate on pari-mutuel racing and has
mutuel and fixed odds betting on racing, operate
                                                                    guaranteed a ‘no less favourable’ position.
the only off-course retail network in Victoria and
establish and operate a betting exchange. The key                   The Government has indicated that it will expedite
components for the racing industry are as follows;                  a review into the appropriate tax rate that will
                                                                    adequately compensate the racing industry
•	 A revised 50/50 Joint Venture partnership
                                                                    for the loss of gaming revenue.
   between the three racing codes and Tabcorp

•	 Minimum performance guarantee from Tabcorp
   in the first three years of the licence

•	 Gaming revenue removed and returns replaced
   by a reduced Government tax rate




                                                                    Racing Victoria is pleased to
                                                                    be renewing our wagering
                                                                    partnership with Tabcorp
                                                                    who have been a trusted
                                                                    and valued partner of the
                                                                    industry...




                                                                    Racing Victoria | Year in Review | December 2011         9
Prize Money                                                         IP Assets

 PRODUCT,    CUSTOMERS   OUR PEOPLE INFRASTRUCTURE SUSTAINABILITY    PRODUCT,    CUSTOMERS   OUR PEOPLE INFRASTRUCTURE SUSTAINABILITY
BRAND & IP                                                          BRAND & IP




 PRODUCT,    CUSTOMERS   OUR PEOPLE INFRASTRUCTURE SUSTAINABILITY    PRODUCT,    CUSTOMERS   OUR PEOPLE INFRASTRUCTURE SUSTAINABILITY
BRAND & IP                                                          BRAND & IP

Victoria retains its position as the national leader                Consolidation of IP Assets has been an important
with a record $160.2 million returned to owners over                platform for Racing Victoria since the launch of the
the 2010-11 racing season, some 12% more than                       Racing to 2020 strategic plan.
the next placed New South Wales.
                                                                    This year has seen the industry, through its
These returns include $138.2 million in prize                       subsidiary RISA, achieve agreement across all
money paid to owners, trainers and jockeys,                         states on a national IT platform and database.
with riding fees, jockeys’ WorkCover and welfare,
                                                                    The project, which will be undertaken in 2012, will
Super VOBIS, trophies and subsidies constituting
                                                                    create efficiencies and provide a better IT pathway
the balance.
                                                                    for Racing Victoria to engage with the industry and
•	 Average prize money paid per race in 2010-11                     stakeholders nationally.
   was $32,265 - up from $31,276 in 2009-10

•	 Average prize money paid per start in 2010-11
   was $3,208 - up from $3,168 in 2009-10

The current racing season, which commenced on
1 August, is one of consolidation with $140.5 million
in prize money budgeted with intended growth from
August 2012 in line with the new wagering licence.




Victoria retains its position
as the national leader with a
record $160.2 million returned
to owners over the 2010-11
racing season...
Media Rights

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The aggregation and commercialisation of Victoria                   The highlights for the year in review for media rights
thoroughbred racing’s media rights is critical for                  included;
providing a platform for sustained growth into
                                                                    •	 A detailed analysis of Radio Sport National
the future.
                                                                       leading to a successful restructure of the
Through the company RVL Media, formed last year,                       business operations to deliver long-term
Racing Victoria has been working with the industry                     efficiencies and benefits for the Victorian
to aggregate its media rights so as to maximise their                  racing industry
revenue and broadcast potential.
                                                                    •	 In consultation with the Metropolitan Clubs,
                                                                       Racing Victoria undertook an analysis of
                                                                       free-to-air rights valuations and opportunities
                                                                       for repackaging it’s current mix of free-to-air
                                                                       arrangements that exist

                                                                    •	 Racing Victoria also worked over the past
                                                                       year with TVN and Sky Channel to enhance
                                                                       the presentation and distribution of Victorian
                                                                       thoroughbred racing internationally which is
                                                                       important for maximising export returns




                                                                    Racing Victoria | Year in Review | December 2011         11
Internationalisation

 PRODUCT,    CUSTOMERS   OUR PEOPLE INFRASTRUCTURE SUSTAINABILITY
BRAND & IP




 PRODUCT,    CUSTOMERS   OUR PEOPLE INFRASTRUCTURE SUSTAINABILITY
BRAND & IP




Expanding the distribution and profile of Victorian                 •	 Expanded distribution including live streaming of
racing into international markets is a key component                   Victorian racing’s product internationally through:
of building the state’s brand as both a national
                                                                        1. Partnering with Sky Channel, TVN and
leader and as a host of world class racing.
                                                                           overseas jurisdictions which sees hi-quality
This is being achieved through initiatives and                             Victorian racing vision now shown in
achievements such as;                                                      30 countries worldwide

•	 Record international participation in the Spring                     2. Expansion of the coverage of Victorian
   Racing Carnival with 16 horses commanding                               racing through a new agreement between
   added interest in Victorian racing in jurisdictions                     Sky Channel and AtTheRaces UK to reach
   across the globe                                                        12 million UK homes
                                                                        3. Extension of existing arrangements with
•	 Leading role as the host of two legs of the
                                                                           New Zealand via Sky Channel
   Global Sprint Challenge which is expanding
   to 10 legs and six host nations in 2012 after
   a successful 2011 series

•	 In conjunction with Tabcorp and Sky Channel,
   development of the Thursday twilight circuit in
   the first quarter of 2012 and expansion of
   Friday night racing to maximise opportunities
   in Australia’s export markets
Wagering Performance

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 PRODUCT,    CUSTOMERS   OUR PEOPLE INFRASTRUCTURE SUSTAINABILITY
BRAND & IP

Wagering turnover with the Tabcorp Joint Venture                    Out-of-state wagering service providers continue
on thoroughbred racing totalled $2.6 billion for the                to be an area of growth but with the High Court
2010-11 financial year, a decrease of 3.7% on the                   decision on the legality of race fields fees pending,
previous year.                                                      the implementation of the recommendation from the
                                                                    Yates review to increase those fees is on hold.
Fixed odds wagering on thoroughbred racing
continued its significant growth, increasing by                     For the first three months of the current season,
41% year-on-year to $172 million.                                   August to October 2011, turnover has increased by
                                                                    more than $115 million, gross revenue by $7 million
One of the most important changes in the new
                                                                    and the Product Fees paid by out-of-state wagering
Wagering Licence is that the product fee Racing
                                                                    operators has also increased by more than 8%.
Victoria receives through the Joint Venture as a
percentage of gross revenue will now apply                          Total national wagering turnover and gross revenue
across all product types including fixed odds,                      on Victorian thoroughbred racing was particularly
not just pari-mutuel.                                               strong through the October period of the 2011
                                                                    Spring Racing Carnival.
When the thoroughbred component of TAB fixed
odds betting is added into the TAB market share,                    Total turnover on Victorian racing with Australian
as it will be from August 2012, it will be clear that               wagering operators during October this year
thoroughbred racing has maintained its position.                    increased by more than $60 million compared to
                                                                    last year. Early indications are that a similar trend
Wagering turnover with Victorian licensed
                                                                    occurred during November and specifically for
bookmakers operating on-course, phone and
                                                                    Melbourne Cup week.
internet businesses increased by 4% to $463 million
during the 2010-11 financial year with a significant
rise in phone betting turnover.




                                                                    For the first three months of
                                                                    the current season, August
                                                                    to October 2011, turnover
                                                                    has increased by more than
                                                                    $115 million...




                                                                    Racing Victoria | Year in Review | December 2011        13
VOBIS Gold

 PRODUCT,    CUSTOMERS   OUR PEOPLE INFRASTRUCTURE SUSTAINABILITY
BRAND & IP




 PRODUCT,    CUSTOMERS   OUR PEOPLE INFRASTRUCTURE SUSTAINABILITY
BRAND & IP




November saw the launch of VOBIS Gold which                         The highlights of VOBIS Gold, which has been
will add value to Victorian-bred horses in the sales                supported to the tune of $6.8 million over four years
ring and provide the owners of these horses the                     by the State Government, are;
opportunity to significantly increase their earning
                                                                    •	 $20,000 bonuses on up to 350 races each year
potential in Victoria.
                                                                    •	 Bonuses offered across all ages and classes
Together with the acclaimed Super VOBIS, which
                                                                       with the majority in country Victoria
will continue in its current format, the arrival of
VOBIS Gold means that $18 million in bonuses will                   •	 $1 million restricted race series for two and
be on offer annually for those who race Victorian-                     three-year-olds
breds in this state.
                                                                    •	 Current yearling crop (2010 foals) the first
                                                                       eligible with nominations closing 1 June 2012
Efficiencies

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 PRODUCT,    CUSTOMERS   OUR PEOPLE INFRASTRUCTURE SUSTAINABILITY
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Racing Victoria and its shareholders have                           The coming year will see further transitioning of
maintained their commitment to identifying                          country clubs to Racing Victoria’s payroll system
efficiencies in the conduct and administration                      and a continued focus on shared services that
of thoroughbred racing throughout 2011.                             benefit the industry’s sustainability.

Following are some of the key efficiencies achieved
this year where a reduction in costs has been
realised through shared services;

•	 Racing Victoria’s payroll department now
   processes 37 country club payrolls plus RV,
   ARM, CRV and TVN payroll incorporating
   over 4000 industry staff

•	 The successful merger of the Melbourne Racing
   Club and Mornington Racing Club, creating a
   super metropolitan club in the south east region

•	 Improved sustainability of country racing through
   the implementation of a successful merger
   between the Kyneton and Hanging Rock
   Racing Clubs




                                                                    Racing Victoria’s payroll
                                                                    department now processes
                                                                    37 country club payrolls
                                                                    plus RV, ARM, CRV and TVN
                                                                    payroll incorporating over
                                                                    4000 industry staff




                                                                    Racing Victoria | Year in Review | December 2011    15
Wagering Review

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 PRODUCT,    CUSTOMERS   OUR PEOPLE INFRASTRUCTURE SUSTAINABILITY
BRAND & IP




An independent wagering review was conducted                        As part of the report, the review team established
this year by leading international consulting firm                  that the annual returns to the industry could be
PwC and chaired by highly respected business                        up to $10 million greater utilising the gross
advisor and former Publishing and Broadcasting                      revenue model rather than a model based on
Limited (PBL) Chief Executive, Peter Yates.                         1.5% of turnover.

Its primary purpose was to consider the optimum                     The Board accepted in principle the
method and price which Racing Victoria should                       recommendations of the independent review
charge wagering service providers for the use                       and management is now working on developing
of our product.                                                     and implementing the most appropriate regime
                                                                    for Racing Victoria to maximise returns from
PwC’s highly detailed report, handed down in May,
                                                                    August 2012.
reaffirmed the methodology of charging based on
a percentage of gross revenue rather than turnover.

The report also recommended the introduction
of a minimum payment to provide a floor should
a wagering service provider fail to reach their
revenue targets in any one month.
Integrity

 PRODUCT,    CUSTOMERS   OUR PEOPLE INFRASTRUCTURE SUSTAINABILITY
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 PRODUCT,    CUSTOMERS   OUR PEOPLE INFRASTRUCTURE SUSTAINABILITY
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Integrity is integral to the success of thoroughbred                We welcomed news in November of a four-year
racing in Victoria and considerable resources were                  $4 million funding commitment to Racing Analytical
again invested to ensure punter and participant                     Services Limited (RASL) by the State Government
confidence in Victoria’s racing product.                            to assist in research and the development of testing
                                                                    methodology for new synthetic and biological drugs.
Racing Victoria commits over $5 million in
resources annually to ensure racing is conducted                    These resources ensure that RASL’s role as the
on a level playing field and without the use of                     industry’s drug tester is maximised and that the
banned substances.                                                  racing industry remains proactive in identifying
                                                                    and detecting banned substances.
In the 2010-11 racing season, which concluded
on 31 July, a total of 14,527 raceday and out-of-
competition equine tests were conducted in
Victoria with five positive swabs, down from
14 in the previous season, detected.
                                                                    Racing Victoria commits
Throughout this year’s Spring Racing Carnival all
horses were required on-course up to three hours
                                                                    over $5 million in resources
prior to their race time for pre-race blood testing                 annually to ensure racing
as part of Racing Victoria’s compliance strategy.                   is conducted on a level
                                                                    playing field...




                                                                    Racing Victoria | Year in Review | December 2011       17
Equine Welfare

 PRODUCT,    CUSTOMERS   OUR PEOPLE INFRASTRUCTURE SUSTAINABILITY
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 PRODUCT,    CUSTOMERS   OUR PEOPLE INFRASTRUCTURE SUSTAINABILITY
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The horse is our sport’s centrepiece and its welfare                •	 The implementation and coordination of
is strongly valued by Racing Victoria which is why                     initiatives for the care of former racehorses
2011 witnessed the introduction of a new Equine
                                                                    •	 The management of Racing Victoria’s veterinary
Welfare and Veterinary Department.
                                                                       program including a review of raceday practices
Well respected veterinarian Dr Brian Stewart was                       and injury management protocols
recruited from the Hong Kong Jockey Club to head
                                                                    •	 The successful implementation of Racing
up the department with the organisation’s first
                                                                       Victoria’s integrity program aimed at ensuring
full-time Equine Welfare Officer, Cara Shelley,
                                                                       that horses compete free of banned substances
also appointed.
                                                                    •	 Building industry awareness around equine
Some of the areas of focus for the Equine Welfare
                                                                       welfare and the role each stakeholder is
and Veterinary Department will be;
                                                                       expected to play
•	 The development of systems and policies
                                                                    •	 Supporting the greater equestrian community
   to improve the acquisition and analysis of data
                                                                       through the launch of a thoroughbred riding club
   on injuries, retirements and stable departures
                                                                       and thoroughbred-only riding competitions to
•	 The management of Racing Victoria’s                                 foster post-racing opportunities
   partnership with Cyberhorse in the Racehorse
   Outplacement Program which has retrained
   and/or re-homed 36 racehorses in 2011
Jockey Wellbeing

 PRODUCT,    CUSTOMERS   OUR PEOPLE INFRASTRUCTURE SUSTAINABILITY
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 PRODUCT,    CUSTOMERS   OUR PEOPLE INFRASTRUCTURE SUSTAINABILITY
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Racing Victoria, with the tremendous support of the                 •	 The Victorian Institute of Sport’s (VIS) Athlete
Victorian Jockeys Association, has long understood                     Career Education (ACE) program was again
the importance of jockey wellbeing and commits                         utilised to educate apprentice jockeys as well
significant resources to this area.                                    as assist jockeys transitioning from their career
                                                                       as an athlete
We are proud of the framework we have in place in
Victoria and in the spirit of continuous improvement                •	 Participation by jockeys in the renowned
are regularly reviewing and, where required,                           VIS Airlie Leadership program
enhancing our support services.
                                                                    •	 In partnership with the University of Ballarat,
Ultimately, the challenge is not just to support the                   our Apprentice Jockey Training Program now
stars of today, but those that have come before                        offers apprentices the opportunity to obtain their
them as well as those that are set to embark on a                      Year 11/12 qualification through the Victorian
career in the saddle.                                                  Certificate of Applied Learning (VCAL)

Following are some of the initiatives undertaken                    •	 Implemented a fundraising program for
by Racing Victoria to support jockey wellbeing                         the National Jockeys Trust at the Victorian
in the past 12 months;                                                 Thoroughbred Racing Awards

•	 Compilation and distribution of a 30-minute                      •	 Supported the National Jockeys Celebration
   DVD to all jockeys providing information and                        Day - founded by Racing Victoria in 2004 -
   education on financial, business and personal                       at Caulfield in August as a means of promoting
   affairs, wellbeing services and personal health                     jockey wellbeing

•	 Racing Victoria’s 24-7 counselling service,                      In addition to the above, minimum jockey weights
   where the Jockey Assistance Program (JAP)                        will be increased from 1 January from 53kg to 54kg
   provided almost 1000 hours in counselling,                       for all races (except Group 1 and 2) in recognition of
   support, assessment and referral services                        the challenges faced by a growing population.

•	 Racing Victoria’s contribution of 1% of prize
   money for jockey insurance and wellbeing
   services without impacting current prize money
   levels

•	 Continued co-contributions with jockeys
   to the Jockey Career Benefit Fund which
   aims to enhance each jockey’s financial
   security
                                                                    Racing Victoria’s 24-7
                                                                    counselling service, where the
                                                                    Jockey Assistance Program
                                                                    (JAP) provided almost 1000
                                                                    hours in counselling, support,
                                                                    assessment and referral
                                                                    services




                                                                    Racing Victoria | Year in Review | December 2011         19
Workforce Development

 PRODUCT,    CUSTOMERS   OUR PEOPLE INFRASTRUCTURE SUSTAINABILITY
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 PRODUCT,    CUSTOMERS   OUR PEOPLE INFRASTRUCTURE SUSTAINABILITY
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Racing Victoria is committed to providing an                        This year saw the review of Racing Victoria’s
attractive and rewarding career path and working                    renowned Apprentice Jockey Training Program.
environment for both existing and potential                         Enhancements are to be implemented from 2012
employees within the thoroughbred racing industry.                  to deliver the high performance athlete program in
                                                                    continued partnership with the University of Ballarat,
A key focus in 2011 was ensuring that a minimum
                                                                    Exercise Research Australia and the Victorian
skill set is achieved by each industry employee and
                                                                    Institute of Sport.
that further steps were taken to identify and nurture
race and track riding talent for the future.                        The Track Rider Talent Identification Camp continued
                                                                    throughout 2011 with three camps delivered in
This saw the introduction of mandatory training
                                                                    conjunction with South West TAFE at Warrnambool.
for stable employees to ensure that each has the
necessary skills and knowledge to perform their duties              A total of 35 riders, ranging in age from 15 to 35,
efficiently, safely and with increased confidence.                  participated in these training programs this year
                                                                    and 90% of participants that progressed through
Over the past two years more than 2700
                                                                    to the advanced training camp are now employed
existing and new workers have undertaken the
                                                                    in the industry.
mandatory training with employees afforded 12
months to satisfy their requirements.                               Racing Victoria’s education programs,
                                                                    Thoroughbred Ed and Subzero Goes To School,
                                                                    introduced thoroughbred racing to over
                                                                    11,000 students at 54 primary and secondary
                                                                    schools throughout 2010/2011 showcasing the
                                                                    vocational opportunities within the industry.
Tracks & Weather Impacts

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A number of Victorian tracks have been impacted                     •	 Kilmore – resumes on 20 December following
since the spring of 2010 by flooding and inclement                     drainage rectification works
weather, causing many issues for racing across the
                                                                    •	 Moe – resumed on Melbourne Cup Day
state this year.
                                                                       following drainage rectification works
Not only were a number of meetings abandoned,
                                                                    •	 Werribee – resumes on 10 December after
but the integrity of several tracks, in particular their
                                                                       being utilised as quarantine base for international
drainage systems, was compromised leading to
                                                                       horses over the Spring Racing Carnival
extended absences from racing.
                                                                    A submission has been tabled with the State
Following the weather impacts, proactive audits
                                                                    Government for funding support through the
were conducted of the drainage systems at a
                                                                    Victorian Racing Infrastructure Fund for the
number of tracks. These identified potential
                                                                    restoration of racing at Yarra Valley which ceased
future problems at Kilmore which have now
                                                                    in December 2010.
been addressed.
                                                                    Together with Country Racing Victoria and the
If all goes according to plan with the weather
                                                                    Club, our desire is to repair the Yarra Valley track
throughout December all tracks bar Yarra Valley
                                                                    and return racing to the picturesque venue in the
will have been returned to racing by the New Year.
                                                                    summer of 2012-13.
•	 Benalla – resumes on 11 December following
   drainage rectification works

•	 Kyneton – resumed on 24 May following
   drainage rectification works



                                                                    Racing Victoria | Year in Review | December 2011         21
Projects & Investment

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Over the past 12 months, Racing Victoria and                        •	 Roll out of the Mawsafe plastic running rail has
Country Racing Victoria, in partnership with the                       continued with 31 Victorian racetracks now
State Government, have spent over $10 million on                       boasting the plastic running rail and a further
capital infrastructure and have committed a further                    four to be added this financial year
$5 million to existing and future projects.
                                                                    •	 Track rectification works at Benalla, Moe,
With 67 racetracks and 32 industry-funded training                     Kyneton and Kilmore following floods and
facilities, we must ensure that they are OHS compliant,                upgrades of drainage infrastructure
viable assets for the industry and of a standard that
                                                                    •	 Approval of the Regional Racecourse
encourages participation.
                                                                       Revitalisation project at Swan Hill that will
There have been over 65 projects conducted at                          see the development of a new $1.28 million
around 30 Victorian tracks since November 2010                         community facility and the relocation of the Nyah
highlighting the significance of this to the industry.                 harness racing track to Swan Hill Racecourse

Some of the key projects that were completed                        •	 Development of a Master Plan for the Geelong
or commenced during this period are;                                   Racecourse Precinct

•	 Erection of lights for night racing at Cranbourne                Amongst the other many projects to be undertaken
   with the project to be completed by Christmas                    statewide are upgrades to dining and administration
   and racing to commence in March 2012                             facilities, irrigation systems, stewards’ towers,
                                                                    training lights, ambulance tracks, sand training
•	 New synthetic training tracks have been
                                                                    tracks, viewing decks, judges’ towers, swabbing
   commissioned at the Cranbourne Training
                                                                    facilities, starting stalls and perimeter fencing.
   Centre, Flemington and Ballarat, with the latter
   a unique uphill 1400-metre track
Metro Club Developments

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Victoria’s three metropolitan racing clubs continue                 Flemington
to innovate and have progressed large scale
planning projects throughout 2011 aimed                             Major works totalling more than $5 million have been
at building a prosperous future.                                    conducted at Flemington including the replacement
                                                                    of the Visco-ride training track with the synthetic
Caulfield                                                           Pro-Ride surface, the construction of a new AV
                                                                    control room to deliver a better quality of picture and
The Melbourne Racing Club’s Master Plan for                         sound throughout the racecourse, new ground staff
Caulfield Village has progressed with Government                    facilities to contribute to more efficient and safe work
planning approval granted in July. Caulfield Village                practices and installation of a weather station to
will be developed over 7-10 years at the doorstep to                provide more detailed track data to the public.
Caulfield Racecourse and will provide a world class
integrated mixed use development on five hectares.                  Moonee Valley
On-course, the MRC has implemented                                  Community consultations for the Moonee Valley
improvements to its members offering including an                   Racecourse Master Plan were progressed ahead
upgrade to the Raceday Office and has erected the                   of finalising a planning application to Moonee Valley
Black Caviar Pavilion for public use.                               City Council.

                                                                    With the departure of harness racing from Moonee
                                                                    Valley, the MVRC constructed a new, premium
                                                                    corporate hospitality enclosure – Legends Lane, with
                                                                    a capacity of 1,000 guests, located inside the home
                                                                    straight, approximately 20 metres from the inside
                                                                    running rail.


                                                                    Racing Victoria | Year in Review | December 2011           23
Owners’ Participation

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Victorian racing’s most important task is to maximise
returns to owners and to support this by developing
the ownership experience.

Plans are in place for the redistribution of the
Owners’ Gold Card from 1 January 2012.
The Owners’ Gold Card program will be extended
in 2012 to include;

•	 The distribution of 50,000 Owners’ Gold Cards -
   up from 40,000 in 2009

•	 Access to Owners’ Gold Card privileges
   for larger syndicates



                                                                    Victorian racing’s most
                                                                    important task is to maximise
                                                                    returns to owners and to
                                                                    support this by developing
                                                                    the ownership experience.
Strategic Marketing Plan

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The development of a new Strategic Marketing                        As part of the State Government’s commitment
Plan has been a key focus for Racing Victoria                       to racing, all Government taxes collected from
throughout 2011 with five strategic principles                      on-course TAB wagering will be returned to the
to drive attendance growth. The plan will;                          industry to promote and foster attendance.

•	 Create a united Brand and Marketing Campaign                     The Strategic Marketing Plan with its focus on
                                                                    attracting racegoers will provide the background
•	 Improve Customer Communications
                                                                    for Racing Victoria’s funding submissions to the
•	 Improve the On-course Customer Experience                        Raceday Attraction Program.

•	 Establish a Customer Life-cycle Program

•	 Improve the Thoroughbred Ownership
   Experience
                                                                    The Strategic Marketing Plan
                                                                    with its focus on attracting
                                                                    racegoers will provide the
                                                                    background for Racing
                                                                    Victoria’s funding submissions
                                                                    to the Raceday Attraction
                                                                    Program.



                                                                    Racing Victoria | Year in Review | December 2011   25
Communication & Engagement

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The RacingVictoria App
A GENUINE
GROUP 1
PERFORMER



Communicating with racing’s customers has                           •	 Enhanced social media activity through two
continued to change with the advancement of                            official Twitter handles, two official Facebook
technology and the need to engage with new and                         pages and visually through YouTube
younger audiences.
                                                                    •	 An improved Racing Victoria website to better
Some of the key initiatives introduced in 2011 include;                suit technology trends and customer desires

•	 The formation of a digital marketing team with                   •	 Revamped public and media e-communications
   a focus on social media and e-communications                        service delivering timely information in
                                                                       desired formats
•	 The launch of the Racing Victoria App for
   iPhone and Android smart phones delivering
   news, fields, form, fashion, event and track
   information to customers anywhere, any time.
   This innovation was ranked amongst the top
   three sporting Apps in Australia



                                                                    This innovation was ranked
                                                                    amongst the top three
                                                                    sporting Apps in Australia
Spring Racing Carnival

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A bigger, better and more spectacular Spring                        The 151st Emirates Melbourne Cup will long
Racing Carnival was held this year with racing’s                    be remembered as one of the greatest ever with
showpiece event expanded from 50 to 65 days                         French raider Dunaden prevailing over English
to take in the opening Group 1 race of the spring                   horse Red Cadeaux by the shortest winning margin
at Caulfield.                                                       in the race’s history.

The Carnival commenced on 17 September with the                     But it was a year where the excitement of racing’s
Underwood Stakes - the first of eight consecutive                   Holy Grail was almost overshadowed by the
weekends of Group 1 racing as part of a revamped                    phenomenon that is Black Caviar. Fans were delirious
program - and showcased 110 race meetings                           with excitement as the irrepressible mare took all
at 38 tracks.                                                       before her extending her unbeaten streak to 16.

Racing Victoria was pleased to host a record                        But she was not the only star to shine during a
16 internationally-trained horses who competed in                   spring that revealed the talents of super three-year-
12 races across six tracks throughout the Carnival,                 olds in Sepoy, Atlantic Jewel, Mosheen and Helmet
with French pair Dunaden and Americain victorious                   and two standout performances by mares Pinker
on two occasions each.                                              Pinker and Southern Speed who took out the Tatts
                                                                    Cox Plate and BMW Caulfield Cup respectively.
Following is an overview of attendances throughout   Total Turnover on Victorian racing with Australian
the 2011 Spring Racing Carnival;                     wagering operators during October this year
                                                     increased by more than $60 million compared to
•	 Underwood Stakes Day attendance up 29%
                                                     last year. Early indications are that a similar trend
   starting the Carnival with a day boasting
                                                     occurred during November and specifically for
   free admission
                                                     Melbourne Cup week.
•	 Attendance up on all three days
                                                     Racing fans are clearly a significant beneficiary of
   of the Caulfield Cup Carnival
                                                     the wealth of racing talent on display during the
•	 An overall increase in Melbourne Cup Carnival     Spring Racing Carnival but the broader community
   attendance to 355,086                             of Victoria shares in the wealth via the significant
                                                     impact of the Carnival on the economy with a full
•	 Record attendance on Emirates Stakes Day          Economic Impact Study to be tabled in early 2012.
   of 85,112

Total national wagering turnover and gross revenue
on Victorian thoroughbred racing was particularly
strong through the October period of the 2011
Spring Racing Carnival.                              The 151st Emirates Melbourne
                                                     Cup will long be remembered
                                                     as one of the greatest ever...




                                                     Racing Victoria | Year in Review | December 2011        29
Melbourne Festival of Racing

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A revamped Melbourne Festival of Racing                             Adding to the feast of racing highlights was
commanded the spotlight in February and March                       two-year-old colt Sepoy who was breathtaking
of 2011 with a series of programming changes                        in his clean sweep of the Blue Diamond Stakes
enhancing the appeal and providing a better                         Series at Caulfield before heading to Sydney to
program for owners and trainers.                                    claim victory in the Golden Slipper.

The Melbourne Festival of Racing period was                         The highlights of the Melbourne Festival of Racing
collaboratively marketed by Racing Victoria, the                    included;
three metropolitan clubs and Country Racing
                                                                    •	 Attendance increases across all major racedays;
Victoria and took in 45 Group and Listed races
including the opening legs of the Global Sprint                          1. Lightning Stakes Day (Flemington)
Challenge and Asian Mile Challenge.                                         - up 11%
                                                                         2. Blue Diamond Stakes Day (Caulfield)
A feature of the Festival was the five consecutive
                                                                            - up 9.3%
Saturdays of Group 1 racing at Caulfield and
Flemington, however it was the Group 1 William                           3. Australian Guineas Day (Flemington)
Reid Stakes under lights at Moonee Valley on                                - up 14%
25 March that closed the Festival with a roar as                         4. Super Saturday (Flemington)
Black Caviar thrilled a big crowd again.                                    - up 10.9%
Whilst 2009 Emirates Melbourne Cup winner                                5. William Reid Stakes Night (Moonee Valley)
Shocking wound up his stellar career with victory in                        - up 100%
the Dubai Australian Cup, it was champion sprinter
                                                                    •	 Net wagering revenue up 16.5% to $16.2 million
Black Caviar who was the headline act with her
unparalleled feats in three winning appearances.
Racing Product

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The pathway for the expansion of the state’s night                  The 2011 jumps racing season took in 61 races
racing circuit was set out in the industry’s Racing To              from April to September with steeplechase racing
2020 Plan as a means to growing financial returns                   passing its key performance indicator and thus
and fostering new customers.                                        guaranteeing its continuation.

This year has seen Cranbourne confirmed as our                      Racing Victoria’s commitment to continued safety
second night racing venue with 38 lighting masts                    improvements in jumps racing was evidenced by
already erected in preparation for the Club’s first                 the introduction of permanent schooling facilities
meeting under lights on 9 March 2012.                               at Cranbourne, Mornington and Warrnambool.

With Cranbourne joining Moonee Valley - who will                    This came on top of the new race obstacles
host 18 meetings during the 2011-12 season - we                     introduced in 2010 and a more stringent trialling
will now be able to deliver a consistent Friday night               and qualification criteria.
product from September - April each season.
                                                                    November saw the release of the 2012 jumps racing
To accommodate the new Friday night meetings                        program which will deliver a 26.5% increase in prize
a meeting will no longer be programmed in the                       money to $3.2 million and a condensed feature race
country on Saturdays during winter. This took                       schedule to showcase the sport’s stars.
effective from 1 August.

After its successful return in 2010 with a new
Pro-Ride surface, the Geelong Synthetic track was
an important winter asset for the industry, hosting
a record 32 meetings in 2011.




                                                                    Racing Victoria | Year in Review | December 2011       31
Racing Enhancements

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A series of enhancements were implemented or                        •	 The expansion of metropolitan racing at
announced in 2011 to improve Victoria’s racing                         Mornington as part of the MRC merger, with
product and the way in which it caters for customer                    four ‘metro’ meetings programmed during the
needs. These include;                                                  2011-12 season - up from two last season

•	 The introduction of Wednesday acceptances                        •	 A series of black type upgrades further
   for Saturday metropolitan meetings, allowing                        cementing the quality of Victoria’s product;
   more fixed odds wagering, form analysis                                1. Three races carried Group 3 status
   and promotion                                                             for the first time in 2011
•	 The earlier release of weights for Friday night                        2. Six races carried Listed status for the
   and Saturday metropolitan meetings on                                     first time in 2011
   Mondays, one day before other states, to assist                        3. A further four races have been upgraded
   trainers and jockeys with planning                                        to Listed status in 2012
•	 The announcement of Victoria’s first ‘stand
   alone’ premier country Saturday meeting at
   Bendigo on 17 March 2012 as a showpiece
   during next year’s Melbourne Festival of Racing
                                                                    ...Victoria’s first ‘stand alone’
•	 The announcement of a Thursday twilight
   circuit at inner country tracks in the first quarter
                                                                    premier country Saturday
   of 2012 to determine the potential for future                    meeting at Bendigo on
   growth in local and international wagering                       17 March 2012
2012
The Pathway
2012 - The Pathway



                            Looking forward to 2012 and beyond we still have
                            much to do.

                            The awarding of the Victorian Wagering and
                            Betting Licence to TABCORP has extended a very
                            successful partnership between the wagering giant
                            and the racing industry.

                            The terms of the new license resolve many issues
                            that were unforeseen when the last licence was
                            issued in 1994 including the growth of fixed odds
                            wagering on racing and sports and the popularity
                            of the simulated racing game, Trackside.
Rob Hines Chief Executive
                            From August 2012 the racing industry will receive a
                            product fee of 15% of gross revenue for all of these
                            products when bets are placed through the TAB.

                            The move to a 50/50 joint venture will also ensure
                            that the partners’ interests are aligned.

                            Pari-mutuel has served the industry well and will
                            continue to do so for many years to come however
                            with the advent of intense competition from corporate
                            bookmakers, the TAB must be free to compete in
                            these markets and racing should not be penalised by
                            a move away from the traditional pari-mutuel pools.

                            Of course our partnership with the TAB is the most
                            important funding stream for racing but we cannot
                            ignore the growth of the corporate bookmakers and
                            their role in the future funding of our industry.

                            The High Court is expected to deliver its verdict on
                            the legality of the NSW legislation and the right of
                            the racing industry to charge corporate bookmakers
                            based on a percentage of turnover around the end
                            of this year.

                            Whatever the outcome of that decision it is
                            imperative for the future of our industry that the
                            corporates make a fair contribution towards the
                            sport that generates their income.

                            If the NSW legislation is held to be valid then
                            Racing Victoria will move to implement the
                            recommendations of the Yates Report published
                            in May this year which will see an increase in the
                            charges to corporate bookmakers.
If the legislation is held to be invalid then Racing        Asia represents our greatest export opportunity and
Victoria will attempt to reach commercial                   this region is central to our night racing strategy,
agreements with all wagering operators and in               including expansion to Cranbourne to complement
parallel, work with our own State Government                Moonee Valley.
and other Principal Racing Authorities to lobby the
                                                            With the completion of the lights at Cranbourne
Federal Government for a national solution.
                                                            early in 2012, our night racing program will be a
After the wagering licence, the second most                 consistent offering every Friday night from Grand
important issue for Victorian racing is the                 Final weekend to Easter, with a meeting either at
aggregation and commercialisation of media rights.          Moonee Valley or Cranbourne.
A new company, RVL Media, was formed during
                                                            This will enable us to attract a younger audience
2010 to be the vehicle for this aggregation.
                                                            through innovative on-course offerings at Moonee
Media rights extend to the production and distribution      Valley and Cranbourne and will suit the Asian time
(including broadcast) of both vision and audio of           zone perfectly.
Victorian thoroughbred races.
                                                            This strategy will take some time to develop but we
Historically, individual clubs have managed their           have already seen a significant increase in wagering
media rights independently of each other but over           through the Moonee Valley night racing program.
the past two years Racing Victoria has made good
                                                            With the new licence arrangements locked away we
progress in bringing these rights together.
                                                            are confident of increased returns to racing and the
It is imperative, particularly with the advent of new       Board of Racing Victoria is pleased to announce a
media and increased wagering through new media              significant increase in prize money with effect from
channels that racing controls its own intellectual          August 1 2012.
property assets and distribution.
                                                            Some $15 million has been set aside to bolster
Since the advent of ThoroughVision (TVN) all of             prize money, with an additional amount that is
Victoria’s thoroughbred race clubs have assigned            yet to be finalised made possible by the pending
their vision rights exclusively to TVN on a long-term       agreement between Country Racing Victoria and
basis with the exception of the four day free-to-air        Racing Victoria to streamline administration costs.
coverage of the Melbourne Cup Carnival.                     All savings identified will be used exclusively for
                                                            Country Racing prize money increases.
Racing Victoria is working cooperatively with all
Victorian clubs and TVN to maximise the exposure
of Victorian thoroughbred racing both at home
and internationally.

The export of Victorian racing through both
traditional broadcast channels and online, digital          It is imperative, particularly
and mobile channels is crucial to the recognition           with the advent of new media
of Victorian Racing as world class by an
international audience.
                                                            and increased wagering
                                                            through new media channels
This distribution, and the quality of the production
standards in Victoria, means that this international
                                                            that racing controls its own
audience will then be prepared to wager on our              intellectual property assets
racing which will increase returns to our local industry.   and distribution.



                                                            Racing Victoria | Year in Review | December 2011       35
The $15 million increase will be spread between            Master planning processes are also being
Country and City with the standard Country prize           undertaken for both Geelong and Seymour
money increasing from $12,000 to at least $14,000          Racecourses to ensure the industry is best
per race and every Saturday city race meeting              equipped for future needs.
seeing at least two $100,000 races on the program.
                                                           The metropolitan racing clubs all have ambitious
Full details of all the increases will be released early
                                                           plans for the development of their racing precincts
in 2012.
                                                           in differing stages of the planning process. Racing
2012 will also see the introduction of the VOBIS           Victoria will work closely with the metropolitan clubs
Gold scheme which builds on the highly successful          to minimise any disruption to the racing program
Super VOBIS scheme.                                        through the development phase of each project.

The first round of nominations will close in June          The integrity of racing is critical to public confidence.
2012 and 50% of the $2000 nomination fee for               Racing Victoria is currently well served by our
VOBIS Gold will be subsidised by the Victorian             integrity framework, including stewarding, drug
Government.                                                policy and testing procedures and our Racing
                                                           Appeals and Disciplinary (RAD) Board. However,
This means for an additional $1000, Super VOBIS
                                                           Racing Victoria knows we must continue to
qualified horses will be able to race for a total
                                                           challenge our systems so that we stay at the
of $18 million in additional stakes money, with
                                                           forefront of integrity standards.
VOBIS Gold bonuses spread across all ages,
not just two-year-olds.                                    Into the future, with the support of the Victorian
                                                           Government’s $4 million investment in drug
This initiative and many other programs benefiting
                                                           detection research for racing and other initiatives,
racing and breeding in Victoria have been made
                                                           we will continue to be vigilant in every aspect of
possible by the Baillieu Government delivering
                                                           our integrity services. Racing demands this.
on the Coalition’s pre-election promise to return
unclaimed dividends from the TAB back to racing            The future of thoroughbred racing in Victoria holds
where they rightly belong.                                 much promise. With the right funding model, the
                                                           right media strategy, great people working in our
The strong advocacy of the Minister for Racing,
                                                           breeding, training and racing industry throughout the
The Hon Dr Denis Napthine, has been instrumental
                                                           State and a supportive Government, we are assured
in achieving this tremendous outcome.
                                                           of maintaining Victoria’s pre-eminent position in
In addition to completing the Cranbourne lighting          Australian thoroughbred racing.
development, a major infrastructure project in
                                                           Rob Hines
2012 will be the rectification works at Yarra Valley
                                                           Chief Executive
Racecourse aimed at returning racing to the popular
track during the 2012-13 season.

With an eye to the future a business case is being
developed around the construction of on-course
stabling facilities at the Cranbourne Training
Complex.
Racing Victoria | Year in Review | December 2011   37

				
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