New South Wales takes knife to its operations, staff and stakes and Miracle Mile not exempt

Feature racing and minimum stakes alike will be victims of Harness Racing New South Wales’ decision to cut its prize money and operational costs.

Sydney’s showcase Miracle Mile, which was run for $1 million in March - when won by former Lincoln Farms pacer King Of Swing - is expected to take a big hit with HRNSW announcing it has withdrawn its $300,000 funding of the race.

But more critically, from Monday week minimum stakes in New South Wales will be cut by 20% as betting continues to plummet in the wake of COVID-19.

Chairman Ken Brown said the closure of 3850 TABs, hotels and clubs, where it was customary for punters to meet mates and enjoy a drink and a bet, had impacted severely on betting.

The downturn in revenue was expected to be at least $7 million for the period ending June and $19.7 million for 2021 should the current circumstances persist.

“The board of HRNSW, in addition to drawing down on its Future Fund, has reluctantly found it necessary to impose a raft of savings measures” including:

• Reducing base prizemoney by 20%. Starting Monday, May 11 category A meeting races will carry base prizemoney of $5200 and category B meeting races will be contested for $4800. There are 1588 category A meeting races and 1584 category B meeting races conducted in the state each year. The directors of Club Menangle would determine what stakes it would offer for metropolitan and Tuesday meetings at Tabcorp Park.
• Cutting administrative (staff) and operations costs.
• Reducing feature race funding.
• Withdrawing drought assistance funding.
• Suspending infrastructure development. The Bathurst training centre development, Tamworth training centre refurbishment and Gold Crown Paceway property buy will be put on hold.
• Reducing or withdrawing discretionary funding arrangements with clubs and
• Reviewing the breeding schemes with stakeholders.

Brown said base prizemoney levels would be reinstated when betting levels recovered.