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Industry News

  • Tinkler, Blackwood agree on debt plan

    Embattled coal entrepreneur Nathan Tinkler has signed an agreement to clear his debt to junior miner Blackwood Corporation but investors seem to have taken a wait-and-see approach on the deal. Blackwood shares sat unchanged at five cents after the company announced it had signed a deed of settlement and release… Read More »

     
  • Tinkler settles legal dispute for $12m

    Embattled coal baron Nathan Tinkler has agreed to pay $12 million to settle an outstanding $28.4 million share placement debt with miner Blackwood Corporation. Blackwood and Tinkler have entered a Deed of Settlement and Release under which Tinkler’s companies will pay $12 million to Blackwood to terminate a Share Placement… Read More »

     
  • Chris Waller calls for more owners’ assistance

    Premier Sydney trainer Chris Waller has hit out at increased costs announced by the Australian Turf Club this week but says industrial action is not the answer. Waller says the costs to owners are already too high and the ATC’s intention to increase stable rents and introduce key performance indicators… Read More »

     
  • Racing NSW boss defends job losses

    Racing NSW chairman John Messara has backed the Australian Turf Club’s plans to shed up to 10 percent of his workforce. In a shake-up of its operations which the Sydney racing club says has been forced because of dwindling wagering revenue, increased operating costs and poor autumn carnival figures, the… Read More »

     
  • ATC restructure to cost jobs: CEO

    Job losses have been announced as part of a restructure of operations at the Australian Turf Club. ATC chief executive Darren Pearce said a downturn in revenue during the redevelopment of Randwick racecourse, high operating costs and the stagnation in the growth of wagering revenue, had forced the thoroughbred club… Read More »

     
  • Patinack racing team to be sold at auction

    Nathan Tinkler’s entire racing stable will be sold at public auction next month. More than 200 horses racing under the banner of Tinkler’s Patinack Farm will be sold through bloodstock auction house Magic Millions during its annual National Sale. The announcement of the dispersal comes 24 hours after Sydney-based bloodstock… Read More »

     
  • Cheats will be caught: Vic racing chief

    Horse racing cheats will be caught, with integrity to be the number one priority in the sport, Victoria’s racing chief says. Racing Victoria chief executive officer Bernard Saundry said there may be small pockets of people who want to try to beat the system, but that can happen in any… Read More »

     
  • Betfair in Blue Square move

    Leading betting exchange Betfair has purchased the customer database of bookmaker Blue Square for STG5 million ($A7.36 million). The online firm, which was owned by the Rank Group, explains on its website that “Blue Square is now a part of Betfair” and directs its clients towards the Betfair site. “Betfair… Read More »

     
  • Patinack Farm for sale

    Embattled businessman Nathan Tinkler is reported to be selling his racing and breeding operation, Patinack Farm. Tinkler established Patinack Farm in 2007, investing millions of dollars buying yearlings, stallions and brood mares for his new thoroughbred venture at Sandy Hollow in the NSW Hunter Valley. One of his biggest assets,… Read More »

     
  • New Vic premier retains racing brief

    The challenge of growing one of Victoria’s biggest industries, and of maintaining its integrity, has been retained by the state’s new premier. Denis Napthine announced on Tuesday he would balance the racing portfolio along with that of regional cities and the state’s top job. Dr Napthine said the $2 billion… Read More »

     
  • Trainers warned about chilli product

    A substance derived from chilli peppers and used to stop horses from chewing on fences has produced positive swabs in harness racing, prompting Racing NSW to issue a warning to thoroughbred trainers. Capsaicin is banned because of its effects on the nervous, cardiovascular and digestive systems and is also categorised… Read More »

     
  • Racing NSW appoints CEO for race series

    Secrecy still surrounds the exact details but at least a new thoroughbred racing series planned for Sydney has a frontman. Well-known NSW racing administrator Ian Mackay has beaten “a field of outstanding applicants” to be named chief executive officer of the Racing NSW promoted series. In almost a decade working… Read More »

     
  • TVN secures NSW thoroughbred rights

    Broadcaster TVN will control the media rights for NSW and Victorian thoroughbred clubs in a landmark deal for Australian racing. A formal agreement to aggregate the media rights of all thoroughbred clubs in Australia’s two strongest racing states was signed on Monday. Under the agreement, TVN will hold the rights… Read More »

     
  • Vic racing minister demands Oliver review

    Victoria’s racing minister has questioned the sport’s governing body’s handling of the Damien Oliver case, urging the racing integrity watchdog to review the inquiry. Racing Minister Denis Napthine has asked Racing Integrity Commissioner Sal Perna to examine whether Racing Victoria acted appropriately in opting not to stand Oliver down from… Read More »