Tabcorp chief executive Gillon McLachlan has delivered the National Tote, after tough negotiations with Racing NSW, which claims it has future-proofed the industry.
The National Tote will start next month, with Racing NSW getting extensions to agreements around free-to-air TV and the funding of the Golden Eagle, while Harness Racing NSW got its Sky deal extended for two years.
Racing NSW will also take control of Sky Thoroughbred Central and look to rejuvenate the channel with fresh content to appeal to different audiences.
“These announcements future proof the industry and ensure that our participants and clubs can continue to benefit from these important revenue streams,” said Racing NSW chief executive Peter V’landys, on his final day before his four month long service leave to take control of the NRL.
“Further to this, more revenue for the NSW Thoroughbred Racing Industry is expected to be generated from the introduction of a National Tote.”
“The totalisator is an important part of the wagering market, and the National Tote can further stimulate tote betting through larger pools which make the pools more elastic. This ensures better value and more opportunities for punters.”
“The innovations with Sky Thoroughbred Central are also significant. Racing is competing in a modern media environment, and we need to keep improving how the sport is presented, promoted and consumed.”
“This agreement ensures that the NSW Thoroughbred Racing Industry has a platform to promote not just the races themselves, but also the horses and participants to showcase the sport to new audiences.”
The National Tote could bring billions of dollars into the racing industry as Australia becomes united brings the opportunity for bigger pools across all three codes.
The Tabcorp chief executive has made the National Tote the centrepiece of his reign at Australia’s betting giant and was proud to deliver.
“We are ready to make the National Tote a reality,” McLachlan said. “This will be a historic structural reform for the industry.”
“A National Tote has been put in the too hard basket for too long – together with the racing codes, we are almost there.”
“Change is hard, but there has been a genuine commitment from industry to get this right.”
“I want to acknowledge all three codes in NSW for the way they have leant in and engaged with us to reach an outcome that will bring life back to the Tote and leave a lasting legacy for the racing industry.”
“A National Tote will deliver deeper liquidity and more competitive pricing.”
“SKY will also have a new look. We’re changing more than the tote – the whole way we present racing for punters will change.”
