KEY POINTS:
New Zealand Thoroughbred Racing's survey of the half-year results for the thoroughbred code for the current season was not as disappointing as predicted, says chief executive Paul Bittar.
"These results show that turnover is tracking along the same lines as two years ago, despite there having been 139 more races this season to date compared to the first half of 2006-07," he said. "If you compare them to the same period last season, two key factors must be taken into account. We are, of course, experiencing a very different economic environment to the six months from August 2007 to January 2008, and the extraordinary highs of the first half
of the 2007-08 season were achieved on the back of the lack of racing in Australia due to Equine Influenza.
The "EI factor" is clearly evident in the fall in export turnover (down 27.4 per cent when compared to the first six months of last season."
"Excluding the EI impact, if we compare the first half results for 2008-09 to 2006-07, we are ahead this season for total turnover (1.6 per cent), on-course (4.4 per cent) and fixed odds (25.3 per cent), while being only slightly down for off-course (-0.5 per cent)."
"Domestic wagering has held up relatively well (down 6.3 per cent), when compared to international trends. Clubs should be congratulated as on-course performance has been quite good in the circumstances. But off-course turnover (down 7.3 per cent) has not performed as well.
"Disappointing is the fall in average number of starts per horse since last season. Increases in stakes, incentives, and improvements to race programmes and trials - directly aimed at increasing participation in the face of a continued decline in the foal crop - have not translated to greater participation.
Compared to the same period last season, stakes have risen $2.8 million (9.1 per cent) and payment of jockeys' riding fees, by NZTR on behalf of owners, by
$1.2 million. Compared with the 2006-07 season, stakes have increased by 32 per cent."
The Auckland Racing Club will donate all general admission sales at today's meeting to the Victorian Bushfire Appeal.
"We feels it's important to do our bit to help our friends across the Tasman," said chief executive Chris Weaver.
- NZPA
