It is nearly two months since the Minister for Racing, The Hon. Martin Pakula, announced the appointment of a new Board for Harness Racing Victoria (HRV).
I speak on behalf of my fellow Directors in saying that our appointments are an honour and a privilege that is not taken for granted. The enormity of the challenge for the trots in Victoria is not underestimated.
We have already had two Board meetings at which a number of initiatives undertaken by the previous Board have been reviewed. The learning process will be steep as the Board must ensure a smooth transition from the previous incumbents.
One thing of which I am certain is that the talent and commitment around the table is beyond my expectations. In this regard I must give credit to the Appointments Panel and the Minister. Already there is a strong bond amongst directors and most importantly they all express strong views and ask questions, which is necessary for good governance.
At our first Board meeting, less than a week after our appointments, a couple of important decisions were taken. Firstly, there is a determination that integrity will be of prime importance not only for the industry, its participants and customers but also in everything that HRV does in its industry leadership role. This focus will be the cornerstone of growing and developing the trots in Victoria. In this regard it is important to record some positive and important decisions taken by the previous Board to improve integrity, including the recently announced appointment of three well credentialed investigative staff within the integrity department. These initiatives will provide a sound base to build upon in the future.
Secondly all Directors are determined to make themselves available at trots meetings throughout Victoria. This will lead to the Board being represented at all country cup meetings and feature meetings a Melton as a first priority and then regularly at feature meetings throughout Victoria. Importantly, directors are determined to be available to stakeholders and participants and will be available in the horse stall areas during race meetings. Already much goodwill has been created with this practice. It has enabled important interaction with the people of the trots and assisted with our learning process.
My commitment, following on from this practice, will be an “open door” policy for people who want to meet with me to discuss harness issues and their involvement in the industry. I have already met with many industry participants to discuss a wide range of issues.
Prior to the appointment of the new Board the Minister made initial appointments to the newly legislated Harness Racing Advisory Council (HRAC). HRV Vice Chairman Elizabeth Clarke, well-known to all industry participants, will chair the Council. Appointments to the Council will be reviewed by the Board prior to their expiry on 30 June. The HRAC will play a very important role. Given the HRV Board is business and commercial skills based, the HRAC will provide the Board with valuable racing input and knowledge when decisions are required on racing matters.
All matters relating to racing and breeding will be referred from HRV to the HRAC prior to their consideration by the Board. Importantly the HRAC can feed racing matters and issues from the various kindred bodies, with its recommendations pertaining thereto, up to the HRV Board. This two-way approach is vital.
For the HRAC to function as intended it is essential that all persons appointed thereto have an “industry first” focus on all matters being considered. This will certainly be the HRV Board’s focus in any decisions it takes. There will be times when those on the Council have to put aside their allegiances to kindred bodies if they are to serve on this important new industry body. It is important that all industry participants and stakeholders understand this.
I also issue a challenge to all stakeholders and participants to think “industry first” as by growing the industry we will all eventually benefit. In particular, the challenges on the wagering front must be met head on if we are to grow returns therefrom which represent nearly 70% of HRV revenue. Regretfully the attractiveness of the trots generally from a wagering perspective lags behind the other two codes. One thing which has pleasantly surprised me is that HRV is more effective than the other two codes in distributing its revenue share from the Tabcorp Joint Venture as returns (prizemoney etc.) to participants.
If the industry can work collaboratively we can grow the top line from wagering revenue and this will mean increased returns for all.
While it was originally intended that the HRAC would meet quarterly it has already met three times since its inception. It is most gratifying that each member of the Council has made the time available to consider important industry issues in a timely manner. I have attended the most recent two meetings, including the meeting on 18 May when each of the kindred bodies made presentations for the Council to consider for recommendation to the HRV Board.
The Board does not underestimate the magnitude of the challenge ahead as it will involve significant change and this will impact upon some of the traditions and practices of the sport. It is clear that the industry must work to grow wagering revenue if it is to prosper. While there has been healthy growth in turnover across all wagering operators over the past five years, revenues therefrom, particularly from our Joint Venture with Tabcorp, have stagnated due to a shift in betting from the tote to corporate operators and also to Tabcorp’s fixed odds offering, both with significant lower returns than for tote betting.
One thing I can assure you is that change will only occur for good reason and it will be made based upon the best available advice. At times such advice may not reside within HRV and as such will necessitate seeking external assistance if necessary.
I plan to provide the industry with regular updates on my and the Board’s perspective and believe that communications from HRV will play a vital role in garnering the industry’s support, through the development of trust via open and honest dialogue.
I very much look forward to working with each and every one of you in growing our wonderful industry. One thing of which I am certain is that there is no shortage of passion, commitment and hard work within the trots.
Should you wish to contact me at any time please feel free to reach out to me at HRV. I can be contacted on 03 8378 0257 or via email ondmonteith@hrv.org.au.
Warm regards,
Dale G. Monteith
HRV Chairman
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