Tabcorp Applaud High Court Race Fields Decision To Support Turnover Based Fees Model
Written By Kevin Pitstock Friday 30th March 2012
Tabcorp has welcomed the NSW Race Fields decisions handed down a short time ago by the High Court.
The High Court has today ruled in favour of Racing NSW’s and Harness Racing NSW’s race fields fee conditions, which impose a turnover based fee on wagering operators.
The High Court permitted Tabcorp to intervene in the Sportsbet proceedings and Tabcorp was not a party to the Betfair legal proceedings. As Australia’s leading wagering operator, Tabcorp has maintained an interest in the outcome of both proceedings.
The judgments will allow the racing industry to decide what price to set for its product and give it flexibility to determine the method by which that price is set, which will enable it to continue to be viable and sustainable.
“Australia’s thoroughbred, greyhound and harness racing industries are significant employers and part of Australian culture. It is important that racing is able to charge a fee for its product that allows it to continue to be successful,” said Tabcorp Chief Executive Officer David Attenborough.
“The overwhelming view of the Australian racing industry and those interested in its long-term future is that the NSW Race Fields regime should be maintained.”
Tabcorp is said to be currently reviewing the full judgments, before making further comment.
Sportsbet had unsuccessfully argued that rebates paid to Tabcorp by Racing NSW on race fields fees were "protectionist, discriminatory and unlawful".