Racing SA, Greyhound Racing SA and Harness Racing SA will receive a vital funding boost following the announcement that the SA Government will increase the return of betting operations tax revenue from 10 per cent to 20 per cent.
The new funding model will commence from July 1, 2023 and run for four years. As was the case with the current model, the funding will be shared between the three codes, based on relative market share.
“The three codes had worked tirelessly to make SA racing nationally competitive and return of tax income generated by racing is a significant factor in achieving that competitiveness,” a GRSA spokesperson said.
“We welcome the increase and appreciate this strong signal of support from the state government for an industry that is both a significant employer and economic contributor to the state.
“And we look forward to demonstrating that the faith the government has shown through this increase will deliver strong returns to the state.”