Call for separate T.A.B. pools

Press, 25 September 1980, Page 24

Call for separate T.A.B. pools

PA Wellington A call for separate T.A.B pools was made by the retiring president of the Wellington Racing Club (Sir Walter Norwood) at the annual meeting of the club in Wellington on’Monday. Not only that, but Sir Walter showed little enthusiasm for the proposed minimum dividend.

The president was discussing the Racing Amendment Bill in his report. “For many years,” he said, “the Racing Conference has supported the principle that separate pools be established in determing the T.A.B distribution between the racing and the trotting codes. “This matter is even more important now that it is proposed to allow off-course betting on greyhound racing and provide for minimum dividends in relation to dividends declared on all events conducted by the three codes,” Sir Walter said. “I feel that unless three pools are established racing funds may be used to subsidise greyhounds and possibly trotting. Further to this, I am personally not at all convinced that the provision of minimum dividend is necessary,, a view supported by the McCarthy Commission,” Sir Walter said. “The possibility of receiving a dividend less than the unit is one of the risks the backers of strong favourites must take.” Sir Walter noted that the financial provisions of the bill allow for an additional one per cent from all betting, of which half will go towards the computerisation of on-course betting. Half of one per cent of the oncourse betting will be received by the club and a similar percentage of the off-course betting will be split equally between stake subsidies and T.A.B profits for the ultimate return to racing clubs. Said Sir Walter: “While administrators will welcome the additional revenue that will be generated through the increase in totalisator deductions, it must surely be upsetting to find that it will be the racing investor who contributes this one per cent.

“It never ceases to amaze me that neither the present Government nor the one preceding it has provided the financial relief which both prortiised so clearly in their election campaigns. Perhaps, the Government elect could make some amendments by considering a. rebate on any sales tax and import duty on the capi-| tai 'expenditure required fori the importation of .the new 1

equipment for the computerised totalisators to facilitate inter-track betting.” Sir Walter noted that Wellington Racing Club’s race meeting expenditure increased by $78,000, but an over-all surplus from the club’s meeting was $404,600, up $40,200. The retiring president said that in view of the continuing operating costs, the club committee would strive to contain 'costs in certain areas and, at the same time, increase revenue.

“The present racing bill allows an additional half a per cent of on-course betting to go to clubs. This will give us an estimated addi-

tional $30,000 in the current season.” ■

Sir Walter said that he was in favour of the figureeight steeplechase course at Trehtham,- a track which attracted controversy during the season.

“It would surely be a backward step if all courses were standardised,” he said.

“Variety is the spice of life and the hill at Ellerslie, the formidable jumps at Riccarton and our figure-eight certainly achieve this end.”

“Research has shown that the average number of starters in our feature jumping events has not declined since the introduction of the figure-eight.”