Back Yourself!
Sign-up and start betting with Ladbrokes in 2 minutes!
Back A Winner with Neds!
Sign-up and start betting with Neds in 2 minutes!
Daily Racing Specials!
Sign-up and bet with Australia's best new bookmaker!
#1 Ranked New Bookie
Sign-up and bet with Australia's #1 ranked new bookmaker!
Best Of The Best Odds!
Bet With Palmerbet and get Paid Top Fluc or Top Tote!
Massive Odds on All Races!
Sign-up and start betting with PlayUp in 2 minutes!
Imagine what you could be buying instead.
Set a deposit limit.
Search
 
Image: AAP
RQ's chairman Steve Wilson said highlights included a healthy revenue growth

A half-yearly report indicates racing in Queensland is in a healthy place apart from worries about the performance of the Queensland TAB.

Racing Queensland has unveiled its first half results for the 2019/20 financial year with solid progress being realised across the industry.

RQ’s chairman Steve Wilson said highlights included a healthy revenue growth (up 25.6 per cent to $139.4 million), a large increase in returns to participants (up 20.8 per cent to $104.1m) and an improvement in attendances and participation (up 2.1 per cent to 332,496).

Wilson said the report demonstrated the industry’s annual contribution to the state’s economy had grown to more than $1.5 billion per annum, a 13 per cent increase from 2016/17, creating more than 2000 additional full-time jobs.

“The Queensland racing industry continues to make great strides thanks to the support and investment of the state government through their Country Racing Support Package and additional industry reform funding,” Wilson said.

“As a result, there has been strong economic growth in the size of our contribution.

“During the first half of this financial year wagering turnover on Queensland product has reached a new half year record of $2.23 billion which represents a $64.8 million increase.

“With the Australian wagering market presently re-setting, and declines being realised in other racing territories across the nation, the Queensland performance highlights our commercial approach including the return of Eagle Farm, the successful non-TAB to TAB conversions and carnival innovations across all three codes.”

Wilson said while turnover with corporate bookmakers had grown (3.5 per cent or $69.7m), turnover declines were realised by QTAB ( down 12.7 per cent or $101m).

Under a current agreement with Tabcorp, RQ remains insulated until the end of the calendar year through the provision of guaranteed QTAB payments as part of a merger deal last year.

But Wilson said the much publicised Tabcorp merger revenue benefits remained an ongoing concern with QTAB revenue generally flat through the first half of the financial year.

 
*Existing customers only. 2nd Racing bet. Excl SA & WA. T’s & C’s apply. Gamble responsibly.
Imagine what you could be buying instead.
Set a deposit limit.
Featured News

FREE BETS – Claim $1000’s in Bonus Bets at the TOP Betting Sites

We take a look at the BIGGEST and BEST Free Daily Racing Offers and Betting Promotions from Australia’s leading online...

Golden Slipper Likely Field – 2024

The biggest two-year-old race of the year will jump this Saturday in arguably one of the best fields in recent...

Former trainer handed a five-year ban for pulling stewards pants down

Former trainer Todd Balfour has been handed a five-year disqualification by Racing SA stewards after a misconduct incident at the...

Melbourne Cup champion Verry Elleegant passes away

Verry Elleegant, one of the great mares in the history of Australian racing, has died while giving birth to her...

Watch 📺 Jockey banned from all racing premises over ride

Jockey Dylan Kitts has been penalised with a disciplinary officer exclusion directive due to non-compliance with an inquiry regarding his...

Group 1 winner returns positive swab

Racing Victoria stewards are investigating a positive swab from Group 1-winning mare Prowess, the racehorse trained by Roger James and...

Alligator Blood injured, career in doubt

Cult galloper Alligator Blood may have run his last race, with trainers Gai Waterhouse and Adrian Bott confirming the star galloper had...

Nikita Beriman returns to the saddle

July 1, 2023 to January 26, 2024 … that period represents the just shy of seven months that Nikita Beriman...

Australia's Best Betting Sites

New Betting Sites Australia + Top List Bookmaker Apps $$$

Betting in Australia has never been more popular thanks to a large increase in new betting Agencies and Apps available...

Top 10 – Funniest Race Horse Names

Horse racing. Known as the ‘Sport Of Kings’, an industry worth billions, a very serious business…but to some, it’s a...

Best Horse Betting Sites in Australia

Best Horse Racing Betting Apps and Betting Sites – March 2024

We take a look at the best online betting apps to bet on horse racing in Australia for the month...

Golden Slipper

The Golden Slipper is one of the biggest and most prestigious horse races in Australia. Taking place each April at...

Australian Bookmaker Reviews – Online Bookie Ratings $$

Which bookmaker should you bet with? We Review each of the leading online Australian Bookmakers and rate them in order...

 
 
Imagine what you could be buying instead.
For free and confidential support call 1800 858 858 or visit gamblinghelponline.org.au