Greyhound Racing NSW warns of revenue losses under current funding model

Industry leaders say structural funding changes are needed to ensure long-term sustainability.

Australia.- Greyhound Racing NSW (GRNSW) has raised concerns over revenue losses affecting the greyhound racing industry in New South Wales. CEO Steve Griffin warned that the current funding model is placing pressure on the sector’s financial sustainability.

Greyhound racing in NSW relies heavily on wagering-derived income, and fluctuations in betting turnover and funding distribution models have increasingly influenced the sector’s financial stability. Griffin said that the funding structure has resulted in lost revenue streams, affecting its ability to maintain competitive prize money levels, invest in infrastructure and fund animal welfare and rehoming initiatives.

GRNSW also pointed to the financial impact linked to the future closure of Wentworth Park, historically the flagship greyhound racing venue in Sydney. This is expected to increase financial pressure on the industry.

GRNSW reported a AU$16.7m loss during a challenging financial year, largely driven by declining wagering income and rising operational costs.

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Industry leaders say structural funding changes are needed to ensure long-term sustainability. Australia.- Greyhound Racing NSW (GRNSW) has raised concerns over revenue losses affecting the greyhound racing industry in New South Wales. CEO Steve Griffin warned that the current funding model is placing pressure on the sector’s financial sustainability. Greyhound racing in NSW relies heavily…