ATC claims $10 million dispute with Racing NSW

On the eve of the Golden Slipper, it has been claimed in the Supreme Court that Racing NSW owes the Australian Turf Club nearly $10 million in distribution fees.

The next chapter of the saga played out on Friday.

It is understood the ATC believes two monthly TAB revenue payments of around $7 million have not been paid since the club started proceedings in the Supreme Court late last year to challenge Racing NSW’s right to put them into administration.

Justice Francois Kunc ruled the regulator’s attempt to put the club into administration was invalid early this month.

Scott Robertson SC acting for the ATC asked on Friday for amendments to the injunctive relief and tabled an affidavit regarding the distributions.

The club claimed it was owed $9,449,910.86, a claim that remains untested.

It had previously been agreed the annualised payment would be made monthly in the interest of the ATC’s cash flow.

It is broken into three parts: a daily payment, quarterly payments, and a major payment at the end of the financial year contractually.

Racing NSW confirmed it is paying what is “contractually required”, which doesn’t include the top-up to TAB revenue.

It is understood that the total amount was more than $80 million last financial year, but without the top-up, it would have been only $63 million.

There is a two-way system where the club returns stakes payments to Racing NSW.

The club believes another payment falls due of around $7 million at the end of the month.