Greyhound racing is experiencing levels of interest that it has never seen before.
A second consecutive profit in excess of $7 million and a $14 million increase in prize money since 2011/12 has the Victorian greyhound racing industry in a strong position for growth as detailed by Greyhound Racing Victoria’s (GRV) Annual Report, tabled in State Parliament today.
The 2013/14 GRV Annual Report revealed a $7.8 million profit with an extra $4 million in prize money distributed and on-course wagering turnover up 16.5 per cent across GRV’s 13 Victorian tracks.
Other key stats include:
- Victorian wagering turnover up 3.1 per cent;
- Attendance up 6 per cent;
- Market share of revenue increase from 19.21 per cent to 20.13 per cent;
- Number of swabs for prohibited substances taken increased from 3427 to 4289;
- $800,000 increase in Greyhound Welfare funding ; and
- Record 536 adoptions through the Greyhound Adoption Program (GAP) – an increase of 40.7 per cent.
GRV Chairman Peter Caillard said the organization has been focusing on key areas to improve the sport and is proud of the results that have been achieved.
“We have been experiencing a surge in the popularity of greyhound racing over the past few years and recognize our responsibility to invest this money into areas of significant importance to the longevity of the sport such as; greyhound welfare, integrity assurances, corporate governance and infrastructure upgrades,” Mr. Caillard said.
“Throughout the year we released a new five-year strategic plan On Track – For A Great Future that defined a clear and concise roadmap for success that aims at elevating the status of GRV as the most respected greyhound racing authority in the world. “
“The growth of our sport and the continued success of the industry is predicated on the care for the greyhound and integrity assurances that allow the punter to have faith in our product.
“We remain committed to greyhound welfare and achieved a record number of adoptions through the industry run Greyhound Adoption Program and increased our annual spend on welfare programs by a further $800,000.
“Prize money has increased significantly with a further increase of $4 million, adding to the $8 million increase in 2012/13. We will continue to identify ways to provide these positive financial returns to our membership base into the future.
The full 2013/14 Annual Report can be found here: GRV 2013/14 Annual Report