Welfare, integrity outcomes headline Annual Report

Thursday, 31 Oct, 2024,
by Damien Ractliffe

Welfare, integrity outcomes headline Annual Report

Greater transparency of key welfare data, including a breakdown of injuries and euthanasia, a significantly expanded program of property inspections and the delivery of two major infrastructure upgrade projects headlines Greyhound Racing Victoria’s (GRV) 2023-24 Annual Report, tabled in the Victorian Parliament today.

In an extraordinarily difficult economic climate which has impacted consumer discretionary spending across the board, wagering turnover on Victorian greyhound racing and subsequently wagering revenue were severely impacted. National domestic turnover on Victorian greyhound racing in 2023-24 was $2.98 billion, down 13 per cent on the prior year.

The sharp decline in wagering turnover and revenue led to GRV undergoing a cost reduction program to ensure the future financial viability of the business, with the full impacts of that program to be realised in the 2024-25 financial year.

GRV posted a $13.1 million operating loss before depreciation and infrastructure project expenditure for 2023-24, following a more than $15 million year-on-year decline in wagering revenue. The total net loss after depreciation and infrastructure projects was $22.7 million.

2023-24 Financial Year initiatives and outcomes delivered

Total participant returns of $72.87 million, up more than 35 per cent on the 2020-21 year;

A total of 2581 greyhounds rehomed for the first time, 1009 of those first-time rehomed by GRV’s Greyhound Adoption Program;

More than 2800 property inspections, up from 1711 in 2022-23, as part of an expanded inspection program to increase the frequency of visits and compliance checking against the requirements of the Code of Practice for the Keeping of Racing Greyhounds

Completed the $3.5 million upgrade of Sale, including track works, new rail and lure system and upgraded track lighting, with VRIF support;

Completed a new $3.5 million racing operations centre and kennel block at Ballarat, with VRIF support;

Successful introduction of a Certificate III in Racing Services (Track Maintenance) training program;

Dream Chasers Festival attendance grew by 8.4 per cent year on year and improved quality of Racing.com broadcast despite reduced investment;

Race fatalities are down more than 47 per cent over the past five years, and injury rates down 18 per cent over same period.

Instances of euthanasia are down nearly 40 per cent over past five years;

Continued roll out of GRV’s digital greyhound tracking initiative, thanks to $1.67 million commitment from Victorian government.

Quotes attributable to GRV chair Peita Duncan

“The growth of Victorian greyhound racing has been remarkably rapid over the past five years, having prevailed through the COVID-19 pandemic, where wagering turnover on the sport and prizemoney returns to participants ballooned to record heights. However, we saw signs emerging during 2023 that macroeconomic conditions were contributing to a softening national wagering market, and that downward trend accelerated throughout 2024.

“Despite this, more than $70 million was distributed to participants in the form of prizemoney and other returns, a figure which sits second in the sport’s Victorian history behind 2022-23. Across the board, cost reductions were made to weather the storm, however at no stage have our commitments to greyhound welfare or integrity outcomes been compromised.

“The completion of construction of the new Racing Operations Centre and kennel block at Ballarat marked a wonderful outcome for that club and greyhound racing in the region, while on the track, the third running of The Phoenix provided the ultimate storyline when owner/trainer Jihad Talgi’s Schillaci prevailed in the world’s richest greyhound race. The story transcended our sport, which is exactly why The Phoenix as a slot holder race was established, to reach a new audience and grow our fan base.”

Quotes attributable to GRV CEO Stuart Laing

“To ensure the future sustainability of the industry, GRV responded to the sharp revenue decline with a series of cost cutting measures including a reset of GRV’s organisational structure. As difficult as those decisions were, they were necessary to ensure the industry remained viable during a turbulent time, and four months into the 2024-25 financial year, the impacts of that cost reduction program are now being realised.

“GRV’s commitment to welfare and transparency is highlighted in this 2023-24 Annual Report, which includes a breakdown of euthanasia and injuries among other additions. Maintaining world-class integrity and greyhound welfare programs remain essential components for the ongoing success and viability of greyhound racing in Victoria, and this commitment includes holding those people who choose to transgress the rules to account for their actions.

“To complete 1603 investigations and 2818 property inspections during the year, up from 755 and 1711 respectively in 2022-23, is a demonstration of our integrity team’s strong capability and commitment.

“There are green shoots on the horizon from a wagering and financial standpoint and I remain confident that with the support of the Victorian government, our hard-working people, club managers, staff and volunteers, the participants and our key partners including major sponsors Sportsbet, Victorian greyhound racing’s future remains strong.”

CLICK HERE to read the 2023-24 Greyhound Racing Victoria Annual Report

Damien Ractliffe

A public affairs and communications specialist, working with Greyhound Racing Victoria after a career as an award-winning racing and sport journalist.