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    Governing body announces record profit Governing body announces record profit
    FRESH from conducting a phenomenal Cup meeting during the weekend, Harness Racing SA has released its 2022/23 financials, which is crammed with stellar results.... Governing body announces record profit

    FRESH from conducting a phenomenal Cup meeting during the weekend, Harness Racing SA has released its 2022/23 financials, which is crammed with stellar results.

    Highlighted by a “record profit of $721,288”, HRSA has increased its TAB market share from 6.9 to 8.2 per cent.

    Representing a 19.5 per cent hike, it is the first increase to market share in “almost a decade, and the biggest increase ever to market share”.

    Corporate betting turnover has also been lifted by 4.7 per cent.

    Prizemoney rose by 5.2 per cent, with stakes increasing again this financial year.

    Away from the dollar, HRSA held more meetings during the 12-month period, which co-exists with a higher number of races and starters.

    In welcome news for local businesses, the horse population grew for “the first time since 2009/10”.

    “Furthermore, a State of Play presentation was made which was well-received and prompted productive discussion,” HRSA CEO Dean Elliott said.

    “Harness Racing SA would like to thank the state government for its support and commitment to an increased POC tax rebate.

    “We look forward to demonstrating that the faith the government has shown through this increase will deliver strong returns to the state and thus put us in a position to press our case for further investment in the future.”

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    Paul Courts

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