Profit System “Inequitable”
Distribution of T.A.B. profits solely on the basis of off-course totalisator investments is advocated by the Committee of Inquiry of the New Zealand Racing Conference.
The committee says that although the distribution of profits is vested by statute in the hands of the Totalisator Agency Board, the present basis of distribution is “inequitable.” The committee strongly recommends “that the Racing Conference makes representations that the basis of distribution should be that the allocation of the racing and trotting pools be made, in the
first instance, solely on offcourse totalisator investments without any prior deductions. “After having established the relative pools, we are of the opinion that the present method of distribution of the racing share of profits is equitable, except insofar as the basic allocation of 15 per cent is concerned,” the committee said. The committee said the executive committee should consider this basic allocation.
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Bibliographic details
Press, Volume CVI, Issue 31101, 2 July 1966, Page 6
Word Count
148Profit System “Inequitable” Press, Volume CVI, Issue 31101, 2 July 1966, Page 6
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