Auckland dub shows profit

Press, 15 September 1977, Page 19

Auckland dub shows profit

PA Auckland The Auckland Racing Club showed a profit of $16,023 on its 1976-77 season activities. This is only the third time in 11 years that the club has made a profit —the loss last year was 848.000.

Profit from 6n-course betting rose by $69,646 to $330,930, most of this increase being a result of the 4 Per cent taxation relief enjoyed from last September.

The T.A.B. profit distribution was over $150,000 higher at $584,080. Both course and T.A.B. betting reached record levels, but the percentage increases of 2.6 per cent (course) and 10.8 per cent did not match the rate of inflation.

Stakes paid totalled $968,585. a rise of $128,185, although $55,465 of this increase came from sponsors’ contributions and grants from the stake subsidy fund.

The Government received $2,353,478 in totalisator duty and $20,119. nearly double last year’s amount, in land tax. A further $68,051 was paid in local rates.

Repairs and maintenance expenditure increased considerably, from $209,275 to $311,424. The cost of maintaining the Takanini training track increased by $10,970 to $64,355. In spite of training fees and Racing Authority grant, the running of Takanini cost the club $30.1’5. excluding rates, insurance, etc

The club wrote off $139,726 In depreciation.

Betting on Aust, races

PA Wellington The Totalisator Agency Board will operate on the two main events at the Sydney spring racing carnival. Betting will be accepted on the Epsom Handicap on October 1 and the Metropolitan Handicap on October 3. On October 8. the board will operate a pool on the Caulfield Stakes and the Herbert Power Handicap, to be run in Melbourne. An announcement about the events at the Melbourne spring racing carnival for which the T.A.B. will accept betting will be made in the near future.