Please see below Tasracing commentary in response to the release of ‘The financing of greyhound racing in Tasmania’ report today (22 May 2025).
“Tasracing annually provides $7.5 million to the greyhound code. This translates into a $54 million economic benefit for the state based on recently-published independent research.
“The vast majority of the funding provided to the greyhound code is funded by commercial revenues the greyhound industry directly generates for Tasracing.
“The Tasmanian racing industry’s economic contribution to the state is growing – in 2021/22 the Tasmanian racing industry generated close to $208 million in value-added contribution to the Tasmanian economy – 40 per cent of which directly benefited regional economies.
“This work was undertaken by IER using a commonly used methodology for regional economic analysis which is about understanding the full footprint of an industry.
“Other work undertaken by IER for Greyhounds Australasia and published in August last year found that greyhound racing in Tasmania was responsible for generating an economic contribution of $53.9 million, more than half of which in regional areas.
“The reference to the reduction in the number of starters in the report is not accurate. Numbers have remained consistent and year to date there have been 490 more starters with average starters per race increasing from 7.38 to 7.53.
“This has been achieved at the same time as responsible breeding, improved welfare and the removal of direct breeding incentives.
“As to the popularity of racing, wagering turnover across the three codes of racing, including greyhounds, has increased by 19 per cent over the past five years.
“Greyhound wagering is up by six per cent year to date in 24/25 compared to last year.”
“As noted previously, the Tasmanian racing industry is partly funded under a 20-year funding deed ($36 million in 23/24) established prior to the sale of the government-owned TOTE Tasmania to Tattsbett in 2011. Until then, the industry was self-funded.
“Current funding is supplemented by Tasracing and revenue generated by its own strategic commercial decisions. Commercial revenue outside the deed has increased by about 130 per cent over the past five years via mechanisms such as Race Field Fees, media rights and sponsorship.
“The funding deed is set to expire in 2029. The Board is engaging with the Tasmanian Government on a new funding deed, and Point of Consumption Tax arrangements.”
David Manshanden
Acting CEO Tasracing