Racing and Gaming Minister Terry Waldron confirmed today some proceeds from the Government’s agreement with Burswood Casino for the proposed casino expansion would be used to fund the infrastructure program.
“An initial amount of $5million will be allocated to the program in the first year with a further $2million provided annually, subject to a review in four years,” Mr Waldron said.
“The casino and the TAB compete for the same customers and expanding the casino’s capacity will impact on the TAB’s ability to continue to fund racecourse infrastructure.
Mr Waldron said the racecourse infrastructure grants fund recognised racing industry revenues were under increasing pressure due to increased pooling costs, product fees and the effects of increased competition from interstate and overseas operators.
“As Minister I am very much aware of the financial stress that WA’s racing industry is experiencing,” he said.
Clubs will be expected to use any grant provided under the program to leverage other funding opportunities from regional development commissions, local governments or Racing and Wagering Western Australia.
“I am very pleased that nine individual racing clubs have so far benefitted from regional development grants provided by Royalties for Regions funding and I believe that the advent of this program can only assist clubs to more readily access that important source of funds,” Mr Waldron said.
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