The New Zealand Racing Board (NZRB) is pleased to present its Statement of Intent (SOI) for the years 2018-2020. Read here.

The SOI sets out NZRB’s Strategy, Priorities and financial forecast through to 2019/20. Significant change is underway at NZRB that actively addresses long term fundamental issues that have limited the racing industry’s performance over the past few decades.

Our key strategic initiatives - fixed odds betting platform, customer and channel improvements, racefields legislation and the optimise the calendar programme - will deliver a significant lift to net profit, taking it close to $200 million per year once fully implemented.

We know we can deliver this future through the delivery of the key projects, which is why we have signalled our confidence by committing to provide some of the projected funding increase early, lifting distributions by $12 million per year in 2017/18 and a further $12 million subject to Board approval in 2018/19. Distributions to the Codes for 2019/20 for 2019/20 are estimated to increase to $172.2 million as the benefits of the key initiatives are realised.

Our primary focus first and foremost is on racing and delivering a sustainable future for the New Zealand racing industry. However if we are to achieve this future, more widespread measures  through the entire industry, particularly around venue use and infrastructure, are necessary and the Board will lead from the front in working with the industry to formulate and implement what has to be done.

For further information please contact Kate Gourdie, Manager Media & Corporate Communications on 021 994 151.