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This is the third in a series of articles we are running with regards to the racing policies of the major political parties in New Zealand. This time it is the LABOUR PARTY: Our vision    Racing is a skilled, vibrant industry with a high profile in New Zealand. It contributes  significantly to the domestic economy in terms of primary production, as a gaming sport and  in entertainment. It has an extremely high value in the export of bloodstock, particularly in  new markets such as Hong Kong.    Racing offers employment directly and indirectly to many people across a wide spectrum of  society. Labour is committed to working in partnership with the industry to achieve better  outcomes in all areas of the racing industry.    When in government, we worked hard to build a good environment for the industry. The  income tax liability was removed on offshore stake money, and the GST liability due on  horses sold for export was addressed.    The Racing Act 2003 better equipped the industry to address the challenges it faces. Labour  delivered a reduction in taxation to align with other forms of gambling, enabling the industry  to have increased funds for stakes, assets and other activities.    Labour recognises the need for the industry to achieve sustainable growth through  maximising strengths and opportunities, and will continue to work closely with the sector to  facilitate this.    Value to economy    The racing industry makes a significant contribution to New Zealand‟s GDP, and creates  employment and export opportunities. A study by the Melbourne-based economic  consultancy IER Pty Ltd (IER) found that in 2008/09 the industry had a significant economic  impact on New Zealand‟s GDP, employment and exports.   They reported that, in 2008/09:    1) Racing made a direct contribution of $464 million to GDP, and generated more than  $1,635 million (0.9 per cent of GDP) if the indirect impact of expenditure in the racing  industry is taken into account.    2) Racing directly sustained 8,877 full-time equivalent (FTE) jobs, and when the indirect  impact of racing is taken into account, the total employment increased to 16,934 FTE  jobs. More than 52,000 people participated in the racing industry (this figure included  volunteers and owners).    3) The racing industry generated more than $167 million in export sales of thoroughbred  and standard bred horses.    A prosperous and dynamic sector with huge potential  The racing industry is currently in decline, primarily through having to compete with many  other forms of gambling. So changes are needed. When in Government, Labour will be  instrumental in allowing all parts of the industry to be involved in reviewing the current status  of the industry, and to establish what is the best way forward.    Labour is committed to building on the good partnership we had developed with the racing  industry, and will continue to work closely with the industry to strengthen racing‟s  contribution to economic growth. Labour will ensure that all additional funding to racing  contributes to real economic growth to be enjoyed by all stakeholders, through appropriate  industry strategies.    Recognising that change must come from within, Labour will convene a round-table  discussion of major stakeholders in the industry with a view to strengthening and  enhancing the economic viability of racing in New Zealand. We will ensure that a  strategic direction is developed and implemented.    Labour is concerned that some racing clubs might use revenue from pokie machines for  purposes other than for the social good. There are also proposals to establish pokie  machines on racing club premises, and we are concerned this may be done without  sufficiently-wide consultation. Labour will bring together industry stakeholders to develop  policy on these issues.    Labour will ensure the robustness of the Integrity Unit, meaning that those appointed to it are  of the highest calibre, in order to maintain the integrity of the unit and the industry.    Labour in government will assist in establishing a Code of Practice for the racing industry,  which will be drawn up and agreed upon by all major stakeholders and will link with the  current set-up of the Integrity Unit.    We will also uphold the position of the New Zealand Racing Board to hold the exclusive  rights to racing and sports betting in New Zealand, and for the net proceeds to be returned to  sustain New Zealand racing.    Labour will work with the New Zealand Racing Board, the racing code bodies, the Governments and International racing bodies to ensure that New Zealand is well placed to respond to any threats to racing's revenue and integrity.   Racing is inherently a dangerous occupation. But with the right tools, the risks can be  managed and mitigated. Labour is committed to working with the sector to ensure that  jockeys ride in the safest environment possible. A reduction of injuries and safer practices  will result in a reduction in ACC levies.   Labour will work with the industry to reduce injuries, promote safe practices and provide safe amenities.    Our thoroughbred stock is a precious resource, and in New Zealand we are lucky our  industry is free from diseases such as Equine Influenza. But the scare in Australia reinforces the need for vigilance in biosecurity measures to protect the industry. Labour will ensure the  racing sector and the government have the necessary measures and tools in place to  identify and manage biosecurity risks to protect the industry.    Labour will support appropriate biosecurity measures to protect the racing industry in  all its activities.    Skills development and training is as important in the racing sector as any other sector. We  want to see the industry continue to move towards being a high-technology, high-skilled  driver of growth. Labour will continue to work with the sector to identify areas for  improvement in industry training and education.    Labour will work with the racing sector to further its industry training and education  goals.    Labour recognises the difficulties faced by the racing industry in modernising itself for the  21st century. We will work with all major stakeholders to ensure the revitalisation of a strong  economic performer which can do even better.    The Labour Party            

Racing in NZ directly and indirectly accounts for well over $1.6 billion dollars worth of GDP, employs tens of thousands of people, has the potential to rapidly expand its export earnings and is an integral part of the Kiwi lifestyle. 1. In 2006 NZ First recognised the export potential of the NZ breeding industry and the need for improved international marketing, and achieved a much improved taxation regime through a reduction in totalisator duty and an accelerated write-down regime for bloodstock. 2. The strongly supported decision to permit racehorses sold for export to remain in NZ for up to 24 months without attracting GST was a further fillip to the industry and to the NZ economy. 3. In addition NZ First implemented a policy of internationally competitive stakes for racing codes, and an industry safety plan. These achievements provided the industry with the momentum to bolster its economic contribution, creating more jobs, more exports, and more income for NZ. Sadly much of the impetus to revive the racing industry has been lost under the present Government’s neglect. Also of alarm are recent IRD and Treasury departmental attempts to re-interpret clearly established statutory provisions against the industry’s health and interests. PLANS New Zealand First will: 1. Return a greater proportion of industry taxation to the racing codes.  2. Introduce a new (below Premier Meeting) category of meeting where every race will be for $15,000 minimum, with relativity across the codes. 3. Enhance employment and export opportunities by working with the industry to improve the international status of New Zealand Group 1 races to attract greater international interest. 4. Restore marque racing plans and prize money initiatives in line with NZ First policy implementation 2005 –2008 5. Return NZ racing to what it was good at. Racing needs breeding programmes to re-establish NZ as a first tier country in racing. That means policies assisting importation of quality mares, and properly using the sire cost write down. 6. Urgently review the operations and costs of the NZ Racing Board 7. Continue to support projects and initiatives, e.g. the Racing Safety Development Fund (a contestable fund of $1.5 million per annum, matching dollar for dollar contributions from racing clubs) that enhances safety and improves the quality of facilities in the racing industry, including the safety of riders, handlers, spectators, officials and others involved in racing codes, as well as the health and safety of animals. 8. Direct IRD and Treasury to respect the spirit of the laws passed to assist racing so we do not have specious departmental interpretations of laws that are clear to the industry. 9. Further improve the appeal of the racing industry to a wider audience by encouraging the promotion of “family-friendly” activities in conjunction with race meetings in all codes. 10.  Defend the historic, modest share of the racing industry, to lawful gambling proceeds, against unreasonable attacks. This is a Ten-Point Plan designed to maximise New Zealand's internationally recognised advantage in the development of race horses and to rebuild our country's reputation as a race horse breeding country of most interest to the world. This plan supports the industry's objectives to increase its economic contribution, creating more jobs, more exports and more income for New Zealand.  Judith Hughey Communications Advisor New Zealand First

With the election drawing near we thought it would be approiate to give all the major political parties an opportunity to enlighten us with their vision for the racing industry. First up are the GREENS: Green Party response: While racing is not an issue on which the Green Party has a particularly high profile, we recognise very clearly the key role the racing industry plays in our national economy and in our local communities through job creation in breeding, local and export sales, training and, of course, racing itself. The Greens believe any Government assistance should go towards those parts of the industry which are struggling to survive, and not to those which are already fantastically successful. The Greens believe that in supporting the racing industry, Government should: Require some of the substantial funds held by the Racing Board be released to meet the needs of racing in a fair and equitable manner before the taxpayer is called on to subsidise the industry. Stop the practice of funds from non-casino gaming machine gambling going towards premier race stakes, and divert such funding to the development of racing infrastructure, particularly  to support struggling and rural racing clubs. Amend the Racing Act to ensure that the New Zealand Racing Board exhibits a sense of social responsibility with regard to all the communities in which racing takes place. From the office of Denise Roche MP Green Party of Aotearoa New Zealand 

Sport betting's top executive left his $1 million job for "personal and family" reasons, saying the commute between Auckland and Wellington affected his health and family life. The resignation of NZ Racing Board chief executive Chris Bayliss caused disappointment and surprise in the industry this week, coming just 22 months after he started. Amid calls for explanations, Mr Bayliss said he had enjoyed the job and left behind "great talent" and an "excellent executive team" to continue the work. To read the full story in the New Zealand Herald click n this link.  

The highly paid chief executive of the state-run NZ Racing Board has quit with eight days' notice, leaving the board without a replacement and the public without a reason for his departure. The resignation of former banking executive Chris Bayliss, 47, was announced yesterday, less than two years after he started the job. To read the full article click here.

Scrapping Monday racing is a win-win across the board. The New Zealand Racing Board - the current administration of which is only early in its second year - has taken a major step in turning around the move to Monday racing put in place by the previous administration. It was meant to provide more "product" (a horrible word for race lovers) for Australians to bet on. It hasn't worked. It diluted our domestic product in thoroughbred racing, something exacerbated by falling horse numbers. The public likes betting into bigger fields. By scrapping 26 racedays - 159 races - the move lessens the overall cost of producing race meetings and should increase field sizes if horse numbers reasonably plateau. Racing Board chief executive Chris Bayliss has said from day one the focus has to be on increasing financial returns to owners. Both equine codes indicated to the Racing Board a desire to downsize for the new season. Harness racing has reduced its yearly schedule by only one race meeting, but by 107 races.This is a good first stepping stone. Racing on Mondays now will be restricted to statutory holidays and the odd provincial anniversary. Monday racing has been extremely tough on industry participants. Matamata trainer Graham Richardson, one of the industry's progressive thinkers said: "Look, they had a go and it didn't work, so let's try something else. "It's like any business, some ideas work and some don't. "Certainly, it's been difficult for trainers to roster staff and losing Mondays will ease that problem. It will be a significant cost saver for owners and trainers." The Racing Board says: "The 2014/15 calendar, comprising 1062 meetings and 10,913 races across the three racing codes, has been devised to better meet the industry's objectives of optimising domestic and international betting performance. "The majority of traditional race dates for the 2014/15 season remain unchanged from previous seasons." Seven of the 26 scrapped racedays will be those held by the now defunct Paeroa racing complex, which two months ago was deemed to be unsuitable for race meetings and trial meetings. The Avondale Jockey Club will lose one meeting, as will the Counties Racing Club. However the Auckland Trotting Club gains three meetings and the Auckland Greyhound Racing Club, one. The Manukau and Kumeu Trotting Clubs both shed a meeting. In Waikato, Harness Racing Waikato loses a meeting as does the Morrinsville Trotting Club. Over to the thoroughbred code and there will be one less meeting per season at Thames and Waipa. Whangarei and Whakatane also lose one meeting each. By Mike Dillon, (reprinted with permission by www.nzherald.co.nz)

New Zealand Prime Minister John Key has had a lifetime love affair with harness racing and says he would like to own a pacer one day. “I’ve never owned one, but one day I might well buy a pacer. I have always enjoyed harness racing. “I’m going back to the 1970s now – my all-time favourite pacer was Lord Module, one of Cecil Devine’s champions, and my favourite trotter was Scotch Tar,” the Prime Minister said. There was always going to be a Cecil Devine trained standardbred in the Prime Minister’s “favourite list”. He used to work for the six-time New Zealand Cup winning trainer. “I actually have a bit of history in racing, going right back to the days when I worked for the legendary driver and trainer Cecil Devine in my youth in Christchurch. “It was an after-school job cleaning out the stables, and all the things that stable hands do. And I have to say I did it mainly for love, not money! “And while I sometimes did drive horses, I was pretty young – only 14 or 15 – so I wouldn’t want to overstate my responsibility. But, my lasting memory is that they’re big animals and they go quick.” 53-year-old Prime Minister Key said. From those early days, through to more recent years when Mr Key was a member of Kumeu Trotting Club. “I have had a real fondness for horses and racing, and in particular, harness racing. I actually used to go to the New Zealand Trotting Cup and the Inter-Doms whenever I could when I was at school and university. I loved it,” He said. The Prime Minister did have a share in a galloper named Atherius, as one of about 10 in a syndicate at one stage. “I believe he’s now enjoying his retirement on Norfolk Island. But for me personally, you can’t beat harness racing and it would definitely be a pacer if I was to get a horse. “Harness racing provides a great day out for families; it’s a lot of fun and because trotting is held at night, it’s often a very picturesque occasion,” The Prime Minister said. In terms of the racing industry itself, Mr Key believed it was going through a period of substantial change, and his goal was to make owning a racehorse profitable. “There will always be those who simply get involved for the sheer fun of it, but at the moment the stakes are too low and the costs are too high. “I know the New Zealand Racing Board is constantly working on ways to improve those metrics,” he said. A little bit about our Prime Minister: Born in Auckland before moving to Christchurch when he was a child, Key attended the University of Canterbury and graduated in 1981 with a bachelor of commerce. He began a career in the foreign exchange market in New Zealand before moving overseas to work for Merrill Lynch, in which he became head of global foreign exchange in 1995, a position he would hold for six years. In 1999 he was appointed a member of the Foreign Exchange Committee of the Federal Reserve Bank of New York until leaving in 2001. Key entered the New Zealand Parliament representing the Auckland electorate of Helensville as one of the few new National members of parliament in the election of 2002 following National's significant defeat of that year. He has held the seat since then. In 2004, he was appointed Finance Spokesman for National and eventually succeeded Don Brash as the National Party leader in 2006. After two years as Leader of the Opposition, Key led his party to victory in both the November 2008 and the November 2011 general elections. As Prime Minister, Key leads the Fifth National Government of New Zealand which entered government at the beginning of the late-2000s recession in 2008. By Duane Ranger (Courtesy of Harness Racing New Zealand)

This Friday will see a particularly fortuitous character of the celestial Zodiac gallop in for the Chinese New Year - the Horse. To celebrate, the TAB will be giving out traditional Chinese 'Red Envelopes' containing betting vouchers in $8 multiples to the first 25 customers who buy a $20 Triple Trio Easybet at Alexandra Park TAB on Friday and Saturday. TAB Triple Trio - a Hong Kong import and one of the region's favourite bets - has already proven lucky for a number of bettors including two people winning six figures in the first two weeks. The third running of the Triple Trio will be this Saturday - the second day of the Year of the Horse. TAB Executive General Manager Glenn Patrick said the TAB definitely expected a spike in betting on horses to mark the Year of the Horse and wished people luck. "Some people don't believe in luck or coincidences - but I can tell you we've already had some very lucky Triple Trio punters, and it wouldn't surprise me if our third Triple Trio sees another massive win during the Chinese New Year holiday." January 31 marks the beginning of the New Year in many Asian countries, and with it a change in the Zodiac animal. It is believed that the horse symbolises momentum, positivity and independence. The latter is particularly evident, as a foal can stand up less than 10 minutes after birth and begins to walk soon after. Characteristics such as speed, bravado and a little bit of attitude come naturally to the equine zodiac. Red Envelopes are traditionally exchanged during important occasions or holidays, to ward off evil spirits, and usually contain money in an even numbered denomination. This week's Triple Trio has a $500,000 pool for the Dunedin Races at Wingatui. The Triple Trio challenges customers to pick the first three place getters in each of the three Triple Trio nominated races. The order of the horses doesn't matter - just that they placed in the top three. Triple Trio bets can be purchased at the racecourse, from local TABs, at www.tab.co.nz and over the phone. Tom Judd Corporate Communications New Zealand Racing Board    

The TAB launches the much anticipated Triple Trio with a $1 million prize pool guaranteed for its debut at the Wellington Races’ Telegraph Handicap Day at Trentham this Saturday. Hugely popular overseas due to the massive pay-outs people receive, this type of bet has been hailed as a potential life-changer for winners. Betting is available from today. Players need to select the first three horses in any order in three consecutive races. If nobody wins, the prize pool jackpots creating the potential for jaw-droppingly huge racing pay-outs.  For as little as $8 anyone could become an instant millionaire from a single bet. TAB Executive General Manager Glenn Patrick said the launch was a major milestone for betting in New Zealand and a brand new product for all Kiwis who like to enter competitions with the chance of cashing-in big. “In some ways it’s comparable to Lotto or Instant Kiwi in that it’s very easy.  People can pick their own horses or the TAB computer can automatically generate the horses with an ‘Easybet’. A difference is that people can research the horses they pick, or the TAB computer can generate picks based on bets other people are making – so it’s less random than a straight lottery and there is the added excitement of watching the races, whether from home or live at the track. “Globally, lots of people enter lotteries with an infinitesimal chance of winning a big pay-out – and there’s nothing wrong with that – but with Triple Trio all people need to do is pick the first three horses, in any order, in three races and it could potentially change their life forever,” said Mr Patrick. As well as having the option to make a full bet, people can pay a percentage of the cost of the bet and receive the same percentage of the dividend. In addition to winning the huge first prize pool, there is an opportunity to win a second prize pool if people pick the first three horses in the first two races but not the third. Triple Trio will be available on Saturdays, usually on the last three races of the day. The TAB has guaranteed a $1 million prize pool for Triple Trio’s first two outings on  Telegraph Handicap at Trentham this Saturday 18 January and Wellington Cup Day at Trentham next Saturday 25 January. There will be a special marquee set up for Triple Trio at the Telegraph Handicap, which also features the popular Trentham Wine & Racing Festival. Triple Trio bets can be purchased at the racecourse, from local TABs, at tab.co.nz and over the phone. ENDS For more information contact: Tom Judd Corporate Communications New Zealand Racing Board

Chris Bayliss has no idea how to price a horse at the races but held betting slips totalling nearly $2 billion across every sporting event last year. Arguably the former banker turned New Zealand Racing Board head is the country's biggest punter, but running the institution charged with operating the TAB in New Zealand has killed sport for him. "Because now I always know our position, so I can watch sport with my heart, or I can watch it with my brain," Bayliss said. "It is terrible watching the All Blacks, wanting them to lose." Spending at the TAB ran away to a record $1.957b for the year ended July 31, 2013 - roughly 1 per cent of New Zealand's gross domestic product. In October the board, which was established under the Racing Act to run the TAB in New Zealand, announced a net profit of $144.1 million. For Bayliss, who is 17 months into his role as chief executive of the New Zealand Racing Board, this basically means he held a $1.957b betting slip last year. "I've always got a massive bet on every sporting event, a lot more than most Kiwis have got. "This job kills any enjoyment that you used to have of sport." Bayliss is British but has lived in New Zealand for ten years, and said he never imagined he would be in charge of the 62-year-old New Zealand Racing Board. He said he cheers for the All Blacks against England and enjoys watching the Ashes test series, but has no more of an interest in sport than most. The challenge for Bayliss, however, was upgrading and improving an industry which had lost half its active punters in the past decade and is riding on systems that are like "a 20-year-old car". All this despite a year of record spending at the TAB. Bayliss said the board's challenges first sprung about a decade ago, when its turnover first nosed over the $1b line. The organisation failed to understand it had then become a large, rather than medium-sized, company, and its frameworks and procedures had struggled to adapt since. This is why Bayliss believed his 29 years of banking experience, which started when he was just 16, would provide a good return on the industry's wager. "At the end of the day, businesses of this size, agnostic of industry, are about distribution, they're about product, they're about customers. "I would have no idea how to price a horse tomorrow, but I know how a trading book in a bank works. "I know, therefore, when you trade in currencies and you're trading interest rates, it's no different to trading sport, so I know what procedures and frameworks you'd expect to have in place." The 900-person, 690-outlet organisation, which Bayliss said was the biggest retailer in the country, would "easily" rank on the NZX 20, the largest and most liquid companies on the stock exchange, if it listed tomorrow. Furthermore, it was the largest broadcaster in the country, yet somehow flew under the radar. "Everyone knows who the TAB is and everyone knows they've got one in their town. "Somehow they never think about it more than that." Bayliss's more difficult challenge is the fact that the number of active customers has dropped from more than 200,000 in 2003 to about 100,000 today. At the board's annual meeting in Wellington earlier this year, the organisation's systems were compared to a 20-year-old car. The 62-year-old NZRB took the opportunity to outline which elephants would be replaced by runaway horses. The outdated technology, a need for high-definition broadcasting and the lack of a mobile app were identified as the "elephants" at the Racing Board. About 29 per cent of its turnover was generated online, but Bayliss said poor technology had saddled it with about $300m in "leakage"; betting lost to the TAB through offshore providers. It was not illegal for New Zealanders to use overseas bookmakers but it was illegal for them to advertise here. "Our customers are ageing and we haven't been able to attract the new breed of customer, because we haven't had the infrastructure to do that." A mobile app was planned for launch ahead of the Football World Cup in Brazil, an event Bayliss expected would turn over $30m at the TAB - the same as the Rugby World Cup in 2011. Live streaming also become available last month, allowing punters to watch events from their laptop or tablet. As well as people using overseas bookmakers to bet on New Zealand sport, the "leakage" figure included betting on events the TAB did not have an offering for. People were betting on the winner of New Zealand's Got Talent and who the next prime minister would be using overseas agencies. The TAB was not legally able to offer odds on such events, because of the provisions of the Gambling Act. "Brits are interested in it and Aussies are interested in it, so why would Kiwis not be interested in it?" Bayliss said. "They're betting on it, we're just not capturing any tax." One of the board's long-term objectives is to maximise returns to the racing industry, comprising thoroughbred, harness, and greyhound racing. For the year ended July, New Zealand's racing industry gained about $142m in dividends over the year. About $5.7m was also distributed to national sports and other bodies from sports betting and gaming takings. But for the $300m leakage, everybody misses out. Most Kiwis did not appreciate the NZRB had no commercial shareholders, and every single dollar made went back into sport, he said. "They're robbing New Zealand of GST, betting duty, problem gambling levy, and most importantly, any revenue back to the industry. "It's an online world now, customers can find it, and they do." Bayliss said it would target growth in racing stakes of about 50 per cent by 2018, up to $120m. This would be harnessed by a growth in profits as well, which he hoped would hit between $160m and $180m. To do this, the Racing Board also needed to adapt the racing calendar. Bayliss said the calendar was "steeped in history". November through to the end of January was the busiest period of racing in New Zealand, but Kiwis now bet more on Australian horse, harness and greyhound racing than on domestic races. Last year's financial result had been hit by the worst rate of cancellations in a decade, as 12 race meetings were abandoned because of the drought. "It's a concern for the domestic industry; it's a concern for the gate money and the money the clubs get. "Economically I can just switch, because punters will just switch to what's on, but it's the poor clubs here that lose out." As such, the local industry should look to opportunities to capitalise on "exporting" race meetings offshore, Bayliss said. The Auckland Cup was always in March, but the Hong Kong Jockey Club, which runs betting agencies there, had told him it would be interested in the Cup if it was run in January. He expected an exported broadcast of the Auckland Cup during January would be worth about $30m in turnover, the same as the Melbourne Cup - by far the TAB's largest trading day. Sydney bookies were also desperate for content at 10am, when no other sport was on. "That would only mean moving races forward an hour. "It's getting the constituency to understand there's a big world out there, we've got a great product and we've got a time zone we don't think about strategically." Bayliss said it would also look to gain more access to the world's VIP punters to further add to the growth of the betting industry. It was reputed about a dozen customers around the world spent more than $100m a year on betting, of which every betting agency courted a couple. The NZRB did not want them all, Bayliss said, because then half its turnover would be exposed to just 12 customers. But it had a prudential limit in place which included "an appetite to grow these by a couple". For the six months to January 31, 2012, nearly $800m was spent on racing bets alone, compared with sports betting of about $120m. But Bayliss said the sport pool was growing at about 30 per cent a year. Overall tipping would "certainly" be above $2b next year, he said. The 2013 financial year had been the first in many without a marquee sporting event, such as a world cup. He said the America's Cup had received over $1m in bets, and represented the sort of sport the TAB could garner more growth from. "Generally if there's a sport, there are customers that want to bet on it." He expected the growth would come from a younger audience, sitting around a TV watching the All Blacks, having a bet on who was going to score the first try. "Let's just put $10 on it, I'm not going to fall out with my wife, I haven't spent the grocery bill, put $10 on and four or five of your mates all decide we're going to put a different person. "Your enjoyment and excitement in that game, believe me, has exponentially increased." That is, unless you've got $2b riding on it. FAVOURITE FLUTTERS Sport 1. Basketball 2. Rugby Union 3. Rugby League 4. Football 5. Tennis 6. Cricket 7. Baseball 8. American Football 9. Golf 10. Ice Hockey Events Rugby World Cup, 2011 – $30m Melbourne Cup – $30m America's Cup – $1m  by Hamish McNichol reprinted with permission by www.stuff.co.nz and Fairfax NZ News

The TAB has launched a new initiative - for the first time in New Zealand, racing fans are now able to watch their favourite racing content online. TAB Watch&Bet Racing will feature all the high quality content that is offered on the Trackside TV channel, meaning New Zealand punters can keep up with all the action when there's no TV around. New Zealand Racing Board CEO Chris Bayliss said, "This is an exciting milestone as we re-architect our IT systems and drive the digitalisation of our business to enhance customer experience. "Customers have asked us for this, and we have delivered a high quality, easy to use product. And there's more to come too. The first piece of work is a foundation release, which we will build on for future enhancements. There are some fantastic possibilities for where we could take this - it's an ongoing project as we look to continually enhance our digital offering and delivery of high quality racing content." Watch&Bet Racing enables anyone in New Zealand with a positive tab.co.nz account balance to watch crystal clear coverage of thoroughbred, harness and greyhound racing online using PCs, iPhones and iPads. Mr Bayliss said there were a number of additional projects in the digital pipeline including a mobile APP. "The launch of Watch&Bet Racing is the first of a number of exciting initiatives as we enhance our digital offering and ultimately work toward our vision of becoming the best entertainment business in New Zealand. "We are constantly driven by our core purpose, which includes promoting and enhancing the racing industry, and generating long term profit for the racing industry. Our digital projects are all focussed on achieving that, while delivering enhanced customer experience, said Mr Bayliss. TAB Watch&Bet Racing went live today and can be accessed by opening a free TAB account, for those who don't already have one go to www.tab.co.nz Tom Judd Corporate Communications New Zealand Racing Board  

At the NZ Racing Board AGM, held at the Head Office in Wellington today, the NZ Racing Board reflected on a record-breaking financial year and outlined its ambitious vision and goals for the future. Financial achievements in 2013 included a record turnover of $1,956.8m, and record distributions of $147.7m to the racing industry and sporting organisations. Speaking at the AGM, NZ Racing Board Chair Glenda Hughes said the organisation and the industry still faced significant challenges, and ongoing transformation and a collaborative approach is key to further, sustained success for an industry that contributes almost 1% of GDP. “2013 was a year of rebuilding, but we were delighted to have delivered a record return for the industry at the same time. We are constantly driven by our core purpose, which includes promoting and enhancing the racing industry and generating long term profit for the industry. “Significant transformation has already occurred. This year a new leadership team was put in place, capability was increased across the organisation at all levels, clarity of accountability and focus was established, an aspirational vision was developed and a five-year corporate strategy was outlined.” Long term strategic organisational goals outlined at the AGM were to: ·           Achieve a surplus of $160-$180m ·           Grow stakes by 50% ·           Grow return to racing owners by 50% ·           Achieve 30% turnover from new markets and products ·           Reduce operational cost-to-income ratio to below 30% NZ Racing Board CEO Chris Bayliss said, “We now have a clear vision that gives us an aspirational focus – to be the best entertainment business for New Zealand. With our strategy now in place we have a robust plan to take this business forward, clear metrics for measuring our progress, and clear goals to enable us to achieve our vision for the industry. “We will continue to strive – through open dialogue, transparency and collaboration with the industry – to transform and succeed together,” said Mr Bayliss. Minister of Racing Hon Nathan Guy spoke at the AGM and congratulated the Board and Management on the financial results. Financial result increase   2012/13 2011/12   Turnover $1.957b $1.814b +7.9% Net profit $144.1m $127.3m +13.2% Distribution to Racing Industry   $142.0m $135.5m +4.8% Total distribution made from current year profit: $142.4m $135.8m +4.9%                                                                                                                                                                Full information and financial statements will be in the NZ Racing Board’s 2013 Annual Report, which will be publically available online from 13 December. Presentations from the NZ Racing Board’s AGM were filmed for subsequent broadcast on the Trackside television channel at 3:00am on Saturday, 7 December and again at 1:00am on Sunday, 8 December 2013. Tom Judd Corporate Communications New Zealand Racing Board

At the NZ Racing Board AGM, held at the Head Office in Wellington today, the NZ Racing Board reflected on a record-breaking financial year and outlined its ambitious vision and goals for the future. Financial achievements in 2013 included a record turnover of $1,956.8m, and record distributions of $147.7m to the racing industry and sporting organisations. Speaking at the AGM, NZ Racing Board Chair Glenda Hughes said the organisation and the industry still faced significant challenges, and ongoing transformation and a collaborative approach is key to further, sustained success for an industry that contributes almost 1% of GDP. "2013 was a year of rebuilding, but we were delighted to have delivered a record return for the industry at the same time. We are constantly driven by our core purpose, which includes promoting and enhancing the racing industry and generating long term profit for the industry. "Significant transformation has already occurred. This year a new leadership team was put in place, capability was increased across the organisation at all levels, clarity of accountability and focus was established, an aspirational vision was developed and a five-year corporate strategy was outlined." Long term strategic organisational goals outlined at the AGM were to: · Achieve a surplus of $160-$180m · Grow stakes by 50% · Grow return to racing owners by 50% · Achieve 30% turnover from new markets and products · Reduce operational cost-to-income ratio to below 30% NZ Racing Board CEO Chris Bayliss said, "We now have a clear vision that gives us an aspirational focus - to be the best entertainment business for New Zealand. With our strategy now in place we have a robust plan to take this business forward, clear metrics for measuring our progress, and clear goals to enable us to achieve our vision for the industry. "We will continue to strive - through open dialogue, transparency and collaboration with the industry - to transform and succeed together," said Mr Bayliss. Minister of Racing Hon Nathan Guy spoke at the AGM and congratulated the Board and Management on the financial results. Financial result increase 2012/13 2011/12 Turnover $1.957b $1.814b +7.9% Net profit $144.1m $127.3m +13.2% Distribution to Racing Industry $142.0m $135.5m +4.8% Total distribution made from current year profit: $142.4m $135.8m +4.9% Full information and financial statements will be in the NZ Racing Board's 2013 Annual Report, which will be publically available online from 13 December. Presentations from the NZ Racing Board's AGM were filmed for subsequent broadcast on the Trackside television channel at 3:00am on Saturday, 7 December and again at 1:00am on Sunday, 8 December 2013. Tom Judd Corporate Communications New Zealand Racing Board  

The NZ Racing Board will consolidate its broadcasting operations from Petone, Avalon and Ellerslie to a purpose-built facility in Auckland late next year. The facility in Auckland – which will consolidate NZ Racing Board’s broadcasting operations and Auckland-based staff – is one of a number of options which were the subject of extensive research and due diligence by a team comprising internal management and external expert advisors. NZ Racing Board Chief Executive Officer Chris Bayliss said “The NZ Racing Board has been considering the best long term location for its broadcasting operations for several years. “The organisation is also prioritising improved customer experience and business growth from its broadcasting operations. “This consolidation aligns with the corporate strategy we have developed to achieve our ambitious goals and vision for the industry. “A key strategic initiative for our broadcasting operations is to address and resolve platform, studio and ageing infrastructure challenges to allow a high quality comprehensive content and channel plan to be delivered in 2014.The plan includes an upgrade from Standard Definition (SD) to High Definition (HD). NZ Live, proven experts in studio production were selected as the best strategic partner for us to continue our outsourced studio model.” said Mr Bayliss. There will be a range of options available to the NZ Racing Board broadcasting staff based in Avalon and Petone, including moving to Auckland and moving to other divisions within the organisation.  The NZ Racing Board has no plans to relocate its Head Office from Petone.  

The TAB achieved a record turnover of approximately $9.4m for the Melbourne Cup race yesterday. Full figures for the whole Melbourne Cup Day are still coming in but are likely to double that number. TAB Executive General Manager Glenn Patrick said a major growth area for the TAB was Big Race Packs, with a 108% increase in sales from last year. “Big Race Packs, which are designed to make betting like an expert easy, also proved a winner for bettors, including the six lucky punters who each won over $25,000 through their $20 Big Race Packs. “One of these was a gentleman, who asked the TAB team at a local bar & bistro for some assistance because he wasn’t sure what horse to back. He lives in a rest home and was first going to visit his doctor before collecting his winnings from his Big Race Pack,” said Mr Patrick. Big Race Packs will also be available for Christchurch’s Cup & Show Week next week. One TAB account holder took a $5 percentage Easybet First 4 and won $37,968. Another account holder won $24,916. 5,454 new people took out TAB accounts during the week leading up to the Melbourne Cup. One brave cash punter put a $120 flutter on a First4 bet and walked away with $118,652. Tab.co.nz had over 12,000 visitors at one point – breaking last year’s 10,000 visitor landmark.     MEDIA RELEASE November 6, 2013 Punters win big on record-breaking Melbourne Cup The TAB achieved a record turnover of approximately $9.4m for the Melbourne Cup race yesterday. Full figures for the whole Melbourne Cup Day are still coming in but are likely to double that number. TAB Executive General Manager Glenn Patrick said a major growth area for the TAB was Big Race Packs, with a 108% increase in sales from last year. "Big Race Packs, which are designed to make betting like an expert easy, also proved a winner for bettors, including the six lucky punters who each won over $25,000 through their $20 Big Race Packs. "One of these was a gentleman, who asked the TAB team at a local bar & bistro for some assistance because he wasn't sure what horse to back. He lives in a rest home and was first going to visit his doctor before collecting his winnings from his Big Race Pack," said Mr Patrick. Big Race Packs will also be available for Christchurch's Cup & Show Week next week. One TAB account holder took a $5 percentage Easybet First 4 and won $37,968. Another account holder won $24,916. 5,454 new people took out TAB accounts during the week leading up to the Melbourne Cup. One brave cash punter put a $120 flutter on a First4 bet and walked away with $118,652. Tab.co.nz had over 12,000 visitors at one point - breaking last year's 10,000 visitor landmark. ENDS Media contact: Tom Judd Tom Judd Corporate Communications New Zealand Racing Board m +64 (0)27 654 3430 e tom.judd@nzracingboard.co.nz w www.nzracingboard.co.nz • www.tab.co.nz • www.theraces.co.nz 106-110 Jackson Street, Petone 5012, PO Box 38899, Wellington Mail Centre, Lower Hutt 5045, New Zealand ________________________________ This communication, including any attachments, is confidential. If you are not the intended recipient, any unauthorised use is expressly prohibited. Please contact me immediately, destroy it, and do not copy or use any part of this communication or disclose anything about it. It is your responsibility to check this email and any attachments for viruses or other harmful code before opening or sending on. Please note that this communication does not designate an information system for the purposes of the Electronic Transactions Act 2002. The content of this email does not infer an ongoing contract. Thank you.  

The man who at 17 was once New Zealand’s youngest licenced harness racing trainer has just landed what he has termed a “dream job”. There’d be few horsemen or committee men who have more passion for the game than 29-year-old Teaz. And the New Zealand Racing Board has realised that by appointing Teaz as their race-caller in Otago, the West Coast and Tasman. Ohaupo-based Teaz will relocate to Dunedin next month. His first job will be calling the trots at Forbury Park on November 21. “I finally nailed it,” he told HRNZ. “I have dreamt about being a race-caller for as long as I can remember. I am grateful to the Racing Board for putting their faith in me. It’s quite mind-blowing to be honest,” Teaz said. Teaz was formerly employed by the Racing Board several years ago but was let go due to cost cutting. He called several trotting, galloping and greyhound meetings before returning to train full-time. He has trained 11 winners since 2003 and together with his reinswoman wife Megan has trained a further five more since 2011. They currently work a team of seven in the Waikato including the good four-win trotter Mingara. “At this stage Megan will remain at Ohaupo and train our team but I will have to give away the training for now. I’m also going to have to resign from my parent’s scrap metal business. “There might be a few trips back home but for now Megan and I have decided to make a go of it in both Islands. The Racing Board have been quite accommodating on this,” Teaz said. “The Morrinsville Trotting Club also wants me to stay on their committee and I’m keen to carry on helping them out, but it could be difficult from down south,” he added. To say Teaz is committed to race-calling is a big understatement. He calls every Saturday at the Cambridge Trials and also travels the three-hour return trip every Tuesday to call at the Pukekohe Trials and Workouts. “I’m really looking forward to the new job especially the West Coast circuit at Christmas time. This is something I have wanted to do for more than 20 years now.” Teaz called his first trial as a 10-year-old and sometimes filled in for a couple of races when official commentators had their arrival on course delayed. “I’ve spent a lot of my life commentating at trials and workouts and now I've got the chance to do it fulltime on race-day. It still hasn’t really sunk in,'' he said. Teaz takes over from Tom Wood and Dave McDonald. The former now calls in Wellington and the Central Districts, while McDonald will continue to call in Southland and some Central Otago meetings. Teaz married Megan (Shepherd) when he was a cadet commentator and trainer five years ago. He said the possibility of starting a family had already been put on hold once – and now that had to be further postponed due to his appointment. “It will happen one day, but just not yet. We are going to both be so busy,” he said. Teaz was appointed to the position two weeks ago and signed his new contract last week. By Duane Ranger (Courtesy of Harness Racing New Zealand)

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