New Zealand Thoroughbred Racing is thrilled that TAB NZ has today announced further funding to New Zealand’s racing codes over the 2023-24 season.

NZTR Chair Cameron George commented on the announcement.

“We would like to thank Chairman Mark Stewart, his Board and management for making this decision.”

“In essence, the additional funding comes in two forms; both have at this stage a one-year horizon. $15 million has been introduced into code annual funding, taking the total for the 2023-24 season now to $185 million.

“Further, TAB NZ has announced that for next year, the Racing Integrity Board will not be funded out of Class 4 Gaming, but instead from TAB NZ revenue and reserves. In doing so, they have created a $15 million contestable fund for applications under TAB NZ’s Racing Authorised Purpose.

“You will recall that in December 2022, following the announcement by TAB NZ to reduce funding by $15 million, NZTR Board and management agreed to use accumulated reserves to maintain stakes funding for the remainder of the 2022-23 season. Today’s announcement allows NZTR Board and management to conduct an ongoing review of its current funding commitment for industry initiatives during the 2023-24 racing season,” said George.

NZTR’s recent announcement with regards to stakes, Club funding and other Initiatives for the 2023-2024 season demonstrates a confident and committed mindset from Board and Management to inspire and grow the industry in a planned and sustainable manner for generations to enjoy.