Thoroughbred racing in South Australia will benefit from a return to pre-COVID prizemoney levels in a series of funding decisions announced today by the Board of Thoroughbred Racing South Australia (TRSA).
The new prizemoney levels – which come into effect on 1 December – also include an increase equal to the riding fee deduction.
“We have watched as wagering revenue has stabilised since the first round of reductions in Federal stimulus packages such as JobKeeper and JobSeeker and that has given us the confidence to increase prizemoney levels back to pre COVID levels,” TRSA Chair Rob Rorrison said.
“The Board has also taken feedback from stakeholders into account regarding the riding fee deduction. While our legal advice is that the riding fee deduction needs to remain, we are further increasing prizemoney and the unplaced subsidy by an amount equal to the riding fee at a cost of approximately $2.6 million per year.”
The announcement has been welcomed by leading trainer Tony McEvoy of McEvoy Mitchell Racing.
“Prizemoney is the lifeblood of our industry; it pays the wages and helps drive confidence levels across the racing community,” he said.
“To have prizemoney trending back upwards in South Australia is fantastic news and underlines the importance of the steps taken by TRSA and the relevant health authorities in keeping racing going through the pandemic.
“It’s also great to see that TRSA has recognised the industry’s feedback around the riding fee deduction.”
New prizemoney levels:
|Metropolitan||Pre-COVID||Current||From 1 December|
TRSA will also amend the distribution of prizemoney as follows:
|Metropolitan||Provincial & Country|
TRSA will also make amendments to the scratching fees.