|Friday, March 30, 2012|
|Court Case on Race Fields Fee in New South Wales (Australia)|
The High Court of New South Wales dismissed the appeals of Betfair and Sportsbet, and all wagering operators taking bets on races in NSW need to pay 1.5% of their turnover to Racing NSW.
Racing NSW has been collecting 1.5 per cent of the turnover from on-course and off-course wagering operators nearly over the last four years, and Sportsbet and Betfair who only paid a percentage of their gross profits, took legal action against Racing NSW. It is said that the court decision could enable the NSW racing industry to collect a further $40 to $50 million a year.
Mr. John Messara, Chairman of Racing NSW said at the press conference ‘This is an important day for the Racing Industry in NSW. The High Court decision establishes that our sport is entitled to set and be paid a fee by those who use its product – a decision that will reverberate well beyond New South Wales.’
Mr. Louis Romanet, Chairman of the Federation said ‘I am very glad to know that the High Court handed down the right decision and it is quite crucial that racing producers can secure a fair share of their products. I want to present my congratulations to all people concerned who turned over a new leaf for the racing industry as a whole.’
Aki AKITANI (Deputy Secretary General)