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In June, the Otago Daily Times revealed the report, previously thought to be focused on all racing codes, would have a specific thoroughbred outlook.
Messara’s detailed and comprehensive report did not stray from its objective. There were very few mentions of the two codes in the report or in speeches by Messara or Racing Minister Winston Peters at its unveiling last night.
However, both Messara and Peters assured the audience at last night’s event that both codes would be better off following the implementation of its recommendations.
‘‘I can assure you my recommendations will havea positive effect on all three codes,’’ Messara said.
Increased funding for harness and greyhound racing will be relying on Messara’s recommendations boosting betting revenue.
Messara has recommended a change to the way racing betting revenue is distributed to the three racing codes.
His figures show the percentage of total funding will drop for harness and greyhound racing under his recommendations.
But if all his recommendations are taken up, it will result in an overall increase in income for the two codes.
Messara said in his report the current fundingmodel, section 16 of the Racing Act 2003, was due for the scrap heap.
The current formula used to distribute money is based on each code’s share of domestic betting.
‘‘The formula may have been appropriate when the legislation wasdrafted. It is no longer relevant in the current wagering landscape and should be amended to better reflect the respective codes’ contributions towards the NZRB’s profitability and that the distribution shouldbe based on the totality of betting,’’ Messara said.
Messara has recommended a new formula that incorporates international betting turnover and each code’s contribution to the economy.
That looks to be a massive boost for thoroughbred racing.
That code has amuch stronger international presence, especially with huge New Zealand interest in carnivals such as the Melbourne Cup.
It also has a stronger breeding industry, dwarfing those of the other two codes.