Race Information Legislation 5/12/08
5 December 2008
Race Information Legislation
Chairman of Product Company (“Product Co”), Mr Tony Hanmer, has applauded the decision by the Queensland Government to pass the much awaited Race Information Legislation during yesterday’s sitting.
Mr Hanmer outlined, “The three racing codes in Queensland have been incurring charges as a result of Race Fields Legislation previously implemented in New South Wales.”
“It is now a relief the State Government has passed the necessary legislation in Queensland to enable Product Co to, on behalf of the three codes, commence charging for the use of Queensland race information for the purpose of race wagering,” said Mr Hanmer.
“Whilst the legislation needs to be proclaimed, it is anticipated that by February 1, 2009, the three control bodies will be in a position to issue authorities and charge wagering operators a fee for the use of our racing information.
“It is worth noting, and I put all wagering operators on notice, that the implementation of this legislation will take effect from September 1, 2008.
“Product Co and the three control bodies have discussed a number of critical issues regarding the implementation of this legislation.
“Unlike the recent decision taken by Racing Victoria Limited, the three codes in Queensland have aligned their approach with the approach taken in New South Wales by the thoroughbred and harness industries, and will implement a charge of 1.5% based on turnover,” Mr Hanmer said.
It was also agreed that a threshold limit be implemented of $5M. The first $5M of turnover will not attract a charge with the 1.5% applying thereafter.
The common view is that this is the most equitable and fair approach to be taken.
In addition, agreement was reached that the distribution framework will reflect the current Product Co distribution rates of 76% (thoroughbred), 14.5% (harness) and 9.5% (greyhounds).
“Further information regarding the application process will become available following further advice from the State Government,” said Mr Hanmer.
“This will be managed centrally and advertised at an appropriate time in the future.”
For any further enquiries please contact Mr Tony Hanmer on 0411 193 582.
Ends.