On Thursday, 13 February Dean McKenzie, Executive Chair and Jessica Meech, Head of Risk and Regulatory Affairs presented an oral submission to the Transport and Infrastructure select committee yesterday about the proposed new Racing Industry Bill.
The introduction of the Racing Industry Bill is considered a major milestone for racing and will help achieve the goals set by John Messara, to ensure the sustainability of the racing industry and give confidence to everyone connected with it. The Bill provides the opportunity for once in a generation change and tackles systemic issues, such as racing infrastructure, that have existed for decades.
While the Racing Industry Transition Agency (RITA) supports the vast majority of the Bill, RITA recognises that this Bill is the industry’s single opportunity to secure the urgent reform needed. But in order to deliver on the Government’s desire for us to generate more revenue for the racing industry, creating a more commercially focused TAB is paramount. This commercial focus has helped guide the Board’s decision making on a number of items in the BIll, including Intellectual Property, TAB governance, new betting products, the dates calendar and racing integrity.
RITA has considered the Bill in detail and believes that with the incorporation of RITA’s amendments, the Bill delivers on the Government's goal to revitalise New Zealand racing.
A link to RITA’s oral submission at Select Committee can be found here.