TAB NZ’s announcement yesterday of a special allocation of funds to the racing codes has been welcomed by New Zealand Thoroughbred Racing (NZTR).

“This one-off payment of $5m across the three codes is a testament to the cost cutting undertaken by TAB NZ together with improved wagering performance,” NZTR CEO Bernard Saundry said.

“Post-lockdown Thoroughbred racing has seen an increase in both starter numbers and starts, while the number of races with fewer than eight starters has more than halved.”

“As a one-off payment, this special distribution needs to be considered carefully and the NZTR Board has agreed that the Thoroughbred code’s portion will be part of the funding model for the 2021-22 racing season.  The Board will release details later in June as to how this might be reflected in stakes,’” Saundry said.

“In addition to acknowledging the efforts of TAB NZ we also want to recognise our clubs and industry participants who ensured that the return to racing following lockdown was so successful.”