GREYHOUND RACING NSW ANNUAL REPORT 2011 - 2012 2011-2012 ANNUAL REPORT WHO IS GRNSW ?

Greyhound Racing NSW (GRNSW) is a body corporate Core Values charged with providing strategic direction and leadership in the development, integrity and welfare of greyhound racing Our vision is based upon the following core values: in New South Wales (NSW). It is the peak body of the sport • Innovation and is responsible for ensuring the competitiveness and long- • Integrity term commercial viability of greyhound racing for the benefit of • Teamwork participants, business partners and the community. • Professionalism • Performance driven From July 2009, GRNSW became responsible for the regulatory • Customer focus affairs of the sport. This broadening of responsibilities was the result of a government decision to transfer the greyhound Chasing 2020 division functions of the Greyhound and Harness Racing GRNSW’s strategic plan, Chasing 2020, was released in July Regulatory Authority (GHRRA) to GRNSW. 2010. The plan provides stakeholders with an understanding of The business structure of GRNSW covers both the commercial how GRNSW intends to grow and position the sport into the and regulatory responsibilities with four core business units: future. Chasing 2020 outlines a shared vision and set of goals Racing & Integrity, Industry & Strategy, Public Relations & Digital that will ensure greyhound racing in NSW continues to prosper and Growth & Sustainability. into the future.

Flowing from the legislative amendments to the Greyhound Produced by the previous GRNSW Board, the forward-thinking Racing Act 2009, the industry representative Board of GRNSW document includes five pillars of strategic focus: was replaced by an independent Board in February 2012. The • Growth amendments make a person ineligible for appointment if they • Image are an employee of a greyhound racing club or member of the • Racing governing body of a greyhound racing club. Each Board member • Sustainability has a maximum tenure of eight years. • Governance

The new members of the independent GRNSW Board were Each pillar outlines strategies that will provide a range of benefits chosen by an independent selection panel comprising Michael to all stakeholder groups. Foggo (Convenor), Professor Percy Allan AM and Richard Chasing 2020 is supported by a standalone operational plan that Zammit, and were assisted by probity adviser Rory O’Connor, is monitored on a quarterly basis and reported to the public from governance firm O’Connor Marsden. yearly as part of GRNSW’s Annual Report. This year’s progress Our Vision report on strategies and projects from the plan can be found on pages 22 and 23. To be Australia’s premier supplier of greyhound racing, delivering an attractive and innovative wagering product, and focused on long-term sustainable growth that will drive increased prizemoney returns to participants and appeal to consumers.

IFC 2011/12 AT A GLANCE

July - GRNSW announces the establishment of its own January - The 2012 GRNSW Country Challenge kicks off in Greyhound Welfare and Veterinary Services Unit which Wauchope. In a major change to the series, races will be sees GRNSW assume responsibility for the provision of on- held during the calendar year instead of the previous July- course veterinarians at all TAB meetings. September schedule, providing greater choice to participants by reducing scheduling clashes. August - As part of major changes to the identification of greyhounds, GRNSW begins the process of microchipping February - The industry representative Board hands over to greyhounds retrospectively. Over the next three months, a new independent Board. Eve McGregor is appointed as 4,000 greyhounds would be microchipped retrospectively Chairman of the new Board, replacing Professor Percy Allan at no cost to members of the sport. AM who held the role for nine years.

September - GRNSW implements world class regulatory March - NSW super stayer Zipping Lad is named the 2011 reform overhauling Race Day Integrity Services, delivering Betfair Greyhound of the Year. Long serving Casino enhanced scrutiny of all races in the state with the Greyhound Club Secretary Don Waldron was awarded the introduction of a central control room at GRNSW’s Head Allen Wheeler Medal for his outstanding contribution to Office in Rhodes. greyhound racing over four decades, while Richmond Race Club was named Club of the Year. October - The Greenhounds program is launched by GRNSW and the NSW Government. The program allows pet April - Don’t Knocka Him wins the 2012 Macro Meats Golden greyhounds to go muzzle free in public places and boosts Easter Egg, the world’s richest greyhound race. Western the chances of former racing greyhounds being re-homed. Australia superstar Miata also makes an appearance at Wentworth Park, winning the Group 1 Association Cup. November - NSW Minister for Racing George Souris announces the creation of an independent selection May - GRNSW’s 65 Roses campaign raises more than $40,000 panel tasked with recommending candidates for the new for Cystic Fibrosis Australia and Cystic Fibrosis NSW independent GRNSW Board. throughout the month of May. The money was raised at special 65 Roses Race Meetings which were staged at each December - GRNSW announces an industry leading change of the 35 greyhound racing tracks in NSW. that creates an exemption for eye drops to be used for greyhounds affected by Pannus. June - Graham Gorrie is appointed to the position of Greyhound Racing Integrity Auditor.

Index 2011/12 At a Glance 1 Board Members Report 26 Chairman’s Report 2 GRICG 28 Chief Executive’s Report 6 Payments to Clubs 29 Summary of Financial Performance 10 GIDF Activity 30

Racing Review 12 Club Statistics Summary 31 Statistics 32 Racing & Integrity 14 Growth & Sustainability 16 Five Year Comparison 33 Industry & Strategy 18 Financial Statements 34 Public Relations & Digital 20 Chasing 2020 22 The Board 24

1 Chairman’s Report New Era are familiar with many of the issues the new Board may face in the future. I am pleased to deliver my first report as GRNSW Chairman. With this vast experience and skill set I am confident this 2011/12 heralded a new era for GRNSW with a new Board will be able to enact a robust plan to ensure the sport is independent Board replacing the industry representative Board sustainable, not just next year, but in the years to come. in February 2012. Strategic Direction

The previous Board made a number of decisions that have ensured the growth of the NSW greyhound product. This includes increasing prizemoney significantly throughout their term and the introduction of TAB C racing to a number of tracks in NSW, including the new TAB venues of Dubbo, Grafton and Wagga Wagga.

One of the most significant achievements of the former Board has been the successful development and implementation of the club Operating Standards and Guidelines that have resulted in higher levels of compliance and stronger operations, significantly improving the risk management, performance efficiency, safety and accountability of NSW greyhound racing clubs.

That said, the sport still faces several challenges in the immediate future particularly when you consider the changing wagering environment and its direct impact on the funding model of the industry.

It is this funding model that is central to the sport’s ability to continue to grow and increase returns to participants into the future. However, it is becoming increasingly clear that the current model will not provide sustainable growth in the long term and it is imperative that GRNSW reconsiders its strategic direction to reflect the changing operating environment and challenges ahead.

It was a great honour to be given the opportunity to serve During 2012/13 the Board will face these realities head on and on the Board and an even greater privilege to be appointed forge a new strategic direction for the sport. As part of this, Chairman. I look forward to the opportunities that the role will we will need to confront the issues that currently hinder our present. ability to provide ongoing growth. We will also need to be open minded and willing to consider innovative solutions and ideas I am supported in the role of Chairman by my four fellow Board that may lie outside of the traditional boundaries of the sport. members, all of whom bring a unique set of skills to the table. Goulburn Upgrade And Introduction Of Local David Clarkson, who is the Board’s Deputy Chairman, has a deep TAB C Racing passion for the racing industry and strong financial management experience. George Bawtree is the former Chief Executive of On 31 July 2012, I had the privilege of being on course to unveil GRNSW and has an extensive background with community and Goulburn’s new state-of-the-art facilities and witness the club’s stakeholder relationships in the public sector. first ever TAB meeting.

Murray Nicol comes from a club and wagering background. The upgrade to Goulburn’s facilities, which include a world- Joyce Alamango has extensive hands on experience within the class kennel block and a new judge’s tower, cost more than sport both as a participant and an administrator. Murray and $900,000 and was achieved due to an unprecedented three- Joyce were also members of the former Board and therefore

2 way partnership between the NSW Government, Goulburn as part of our commitment to deliver increased returns to Mulwaree Council and GRNSW. participants.

The completion of the project means Goulburn is now a Boosting Integrity quality facility in a key regional area of NSW that stages weekly TAB meetings which are beamed live into living rooms across Protecting the integrity of greyhound racing is at the heart of Australia and the world on Sky Racing. what GRNSW does, it is a core function of the organisation. Fundamental to our growth is the confidence the public places I thank both the NSW Government and in particular the in the integrity of our racing. Goulburn Mulwaree Council for backing the project. It is for this reason that GRNSW has invested significantly in The council was a strong supporter of the upgrade ever since improving its integrity services. GRNSW first made a request for it to put forward a third of the funding. A record number of swabs were taken in 2011/12 and this number will increase even further in the current financial year It is due to the council’s commitment and cooperation that after GRNSW nearly doubled its swabbing budget. the new facilities were able to be completed on time and on budget. In the future, I hope that GRNSW can enter into similar The increase in swabbing follows the implementation of an arrangements with more local councils across the state to allow industry leading race day integrity model in September 2011, tracks to undergo vital upgrades to their infrastructure. delivering enhanced scrutiny of all TAB races in the state. The changes saw the establishment of a ‘control room’ at GRNSW’s More exciting times await Goulburn with the construction of a head office in Rhodes, which receives live feeds of the race new Multi-Use Facility, which will provide outstanding amenities broadcast footage and utilises video conferencing equipment and comfort for racegoers as well as a multi-function area for to facilitate communication between the tracks and office in wider community use. The construction of the new building is real time. scheduled to commence in late 2012 at a cost of $5.7 million, with GRNSW contributing $300,000. This Australian-first approach to stewarding has allowed GRNSW to improve the oversight of greyhound racing in this state to In addition, GRNSW will continue to explore opportunities unprecedented levels by making best use of technology. across the state to convert Non-TAB product to TAB status

3 Chairman’s Report

Another change saw the introduction of a Greyhound Welfare Initiatives such as the 65 Roses campaign show how generous and Veterinary Services Unit at GRNSW, headed by one of the greyhound community is in NSW and I hope that the Australia’s most respected greyhound veterinarians, Dr Brian partnership between GRNSW and Cystic Fibrosis can continue Daniel. The unit provides GRNSW with direct access to for many years. veterinary expertise and knowledge, ensuring animal welfare is considered during the development and implementation of all Tributes new policies, rules and procedures. May I acknowledge the Hon. George Souris, Minister for Tourism, In a further boost to integrity, GRNSW appointed Graham Major Events, Hospitality and Racing, for his efforts and support Gorrie to the position of Greyhound Racing Integrity Auditor. since I took on the role as Chairman.

GRNSW is very fortunate to have Mr Gorrie in this role, as On behalf of my fellow Board members I would also like to pay he has strong legal credentials and an extensive background in tribute to the management team and staff at GRNSW, which is wagering and sport. ably led by GRNSW Chief Executive Brent Hogan.

With these reforms GRNSW can confidently say its integrity I would also like to sincerely thank former Greyhound services are at the forefront of the wagering industry and Racing NSW Board members Bill Mangafas, Tom Green and we remain committed to driving and adopting best practice in Jack Primmer for their service to the greyhound racing industry this area. in NSW.

65 Roses Campaign Each of these gentlemen made a significant contribution to the progress of greyhound racing as part of the Board and their In May 2012 GRNSW staged its first ever 65 Roses campaign experience and counsel has been of tremendous benefit to which raised money for Cystic Fibrosis Australia and Cystic GRNSW over an extended period. Fibrosis NSW. I would finally like to thank my predecessor Professor Percy As part of the campaign each of the 35 greyhound racing tracks Allan AM, who was GRNSW Chairman for nine years. It is due in NSW staged their own 65 Roses Race Meeting in May. to his professionalism and expertise that greyhound racing in NSW is so well positioned to tackle the challenges it faces in It was great to see all the clubs get behind the campaign and help the coming years. raise money for such an important cause. This support ensured the campaign was a great success, with more than $40,000 raised, more than half of which was through the clubs ancillary activities conducted either during the 65 Roses Race Meetings or throughout the month of May.

4 5 ChIEF EXECUTIVE’S REPORT

2012 brought certainty to the immediate funding model of the charge an individual wagering operator more than 1.5% of their racing industry with the High Court of Australia validating the turnover on our races. We will continue to talk with Government race fields legislation and confirming the right of controlling over the next 12 months seeking further reform in this area so bodies to impose a fee on all wagering operators who bet on that the NSW greyhound industry can enjoy the full fruits of its our respective races. approach to race fields fees.

From a GRNSW perspective, we have been collecting fees from National wagering sales growth on NSW greyhound racing for all wagering operators and spending that money for the last the full financial year was above market averages amounting to three and half years. It is the money that we have collected from 5.3% ($50.5m) with sales reaching $1 billion for the first time. the race fields legislation that has allowed us to pay an additional This was supported by national wagering revenue growth on $19 million in prizemoney throughout that period over and NSW greyhound product of 7.7% ($10.9m) to $153 million. This above what we could have afforded to pay if we were relying growth was achieved in a relatively flat wagering market and with solely on TAB distributions. no increase in the amount of TAB race meetings conducted.

Whilst the legal endorsement of the race fields legislation provided the industry with increased certainty, the traditional business model of the racing industry continues to be under immense pressure driven by changing consumer needs and technological advancements. Sports betting continues to develop a stranglehold on the younger demographic and sports betting turnover will grow exponentially should ‘in play’ betting be permitted following the Federal Government’s review of the Interactive Gambling Act.

Added to that, media rights negotiations between thoroughbred aggregator TVN and SKY Channel have the ability to significantly disrupt the race wagering marketplace over the next 12 months. Media speculation has included non-financial demands by TVN to take control of the national schedule of race meetings and limit the coverage of greyhound racing – a position clearly designed to counter the strong growth being achieved by our product.

During the year, GRNSW introduced a series of reforms that have substantially changed our approach to race day integrity operations, the identification of greyhounds and continued to improve our animal welfare standards.

From a race day operations perspective, we have established a ‘control room’ at the Rhodes office that has live feeds of the Our approach to race fields to date, which is to levy wagering race broadcast footage, surveillance footage from the kennel operators based on the revenue generated from betting on our blocks and video conferencing equipment to flow between the product, has also allowed us to focus on growing greyhound tracks and the office in real time together with modern bet racing in this state. In that period we have grown the number monitoring tools. This resulted in the split of current race day of TAB meetings being conducted with an additional 208 TAB integrity functions and duties between a Steward at the track, meetings now part of our schedule. TAB racing at Wagga, and a senior Steward who oversees and controls the meeting Grafton and Dubbo would still be an aspiration today had we from the ‘control room’. followed the path of the other two codes from a race fields perspective. From the start of the 2013 financial year, Goulburn The modernisation of our approach to stewarding is designed to started TAB racing and we also increased our charge to 15% of improve the oversight and efficiency of our racing by making best each operator’s gross margin on our product. use of technology. It delivers an enhanced capacity to monitor betting trends leading up to a race and provides one central The current NSW race fields legislation is complicated by the contact point for race day operational matters. Senior Stewards existence of a cap on fees which does not presently allow us to also have immediate access to a range of information sources

6 that simply cannot be replicated at the track, resulting in better of samples being taken increasing from 2,764 to an estimated informed and consistent decision making. 6,750 in the new year, a rise of more than 150%. Our response however is not just simply to increase the rate of sampling with Aside from the regulatory enhancements, the reforms have the following also underway: provided the sport with the technology infrastructure to stream, in real time, its race vision by its own means if that need or • A review of drug detection activities in other greyhound desire arose. The majority of broadcast rights are currently held racing jurisdictions and racing codes; by Sky Racing which, in its current form and ownership, has a great working relationship with our sport. The infrastructure • A review of penalties imposed by GRNSW, benchmarked however provides the flexibility to consider other opportunities against other greyhound racing jurisdictions and racing if appropriate commercial arrangements cannot be reached in codes; the future or if the distribution strategy of the broadcaster does not meet the objectives of the sport particularly in terms of • A review of best practice approaches to drug detection, online and international distribution. including the policies and processes utilised in other sporting codes, with a focus on identifying alternative means of It also further strengthens our ability to expand the number of hearing positive swab cases, particularly around therapeutic TAB meetings being conducted, from the existing venues, on an substances; and extremely efficient basis when compared to our competitors. • The development of education resources to better assist The rise in the number of prohibited substance cases over the participants to improve their knowledge on a range of last year has been disappointing. Those who participate in a race, matters relating to greyhound performance and health. whether as owners, trainers or the like, are entitled to expect that all other dogs will run on a level playing field. Likewise, the Community attitudes and expectations continue to change public is entitled to expect that when they wager their money and what was seen as acceptable practice 20 years ago is everyone will be competing on an equal basis. not accepted today. The live exports debate that occurred in Australia during the last 12 months has had a significant impact Part of our response to this is a doubling of the swabbing in a number of ways. It has pushed animal welfare issues away budget for the new financial year that will result in the number from the extremes and into the mainstream and it has showed

7 ChIEF EXECUTIVE’S REPORT how governments can be forced to act when a community is Whilst sponsorship is largely the domain of the race clubs, outraged by an emotive issue. GRNSW does have a number of sponsorship properties and events that it conducts throughout the year that are supported GRNSW is proud of the advancements we have made on the by a loyal group of sponsors and partners of GRNSW. These animal welfare front in recent times, ensuring that our practices include our principal wagering partner tab.com.au who is the meet modern community expectations. Included amongst the exclusive wagering partner of the Dogs TV, Betfair who is the developments over the last 12 months are: official betting exchange of NSW greyhound racing as well as the naming rights sponsors of the Greyhound of the Year • The establishment of our Greyhound Welfare and Veterinary Awards and the Blue Paws Breeders and Owners Incentive Services Unit within GRNSW to not only provide veterinary Scheme, Sportingbet Australia who continues to support the services at TAB meetings, but to provide research, policy and Super Stayers series and K.S Black & Co who sponsors the technical advice to GRNSW on all matters relating to the Country Challenge Showdown. I thank these organisations for health and welfare of greyhounds; their ongoing support.

• The launch of Greenhounds with the NSW Department May I acknowledge the contribution of the Hon. George Souris of Local Government as a brand to facilitate and promote MP, Minister for Tourism, Major Events, Hospitality and Racing muzzle free greyhounds following their racing career. Since and his staff led by Chief of Staff Frank Marzic, who continue its launch in October 2011, over 100 Greenhounds have to support the development of the racing industry throughout now been accredited; the State.

• The expansion of our relationship with Corrective Services In February, long-term GRNSW Chairman Professor Percy Allan NSW and our Greyhounds as Pets Program across two AM and fellow Board members Bill Mangafas, Jack Primmer sites and the development of ongoing plans to enhance the and Tom Green retired from the Board of GRNSW. Each of outcomes for both dogs and inmates; these gentlemen have made a significant contribution to the progress of the sport as part of the Board and their experience • The first Code of Practice for Greyhounds in Training, and counsel has been a tremendous benefit to GRNSW over ensuring minimum standards for all greyhounds in NSW, an extended period. In particular I would like to recognise, on which is now the basis for all kennel inspections conducted a personal level, the support, advice and opportunities I have by GRNSW; and received from Percy during my term as Chief Executive whilst he led the Board. • A strong focus on education and training, including the commencement of formal training for persons associated The new Board of GRNSW, ably led by Eve McGregor, brings with the industry and the development of protocols to tremendous skills and experience to GRNSW and is working educate and regulate the breeding and rearing sector. towards establishing a clear strategic direction that takes accord of the challenging environment that faces the sport. GRNSW is working with Greyhounds Australasia and the other State bodies to holistically ensure our approach to the In closing, I want to express my sincere thanks to all our welfare of greyhounds, including those that are exported to management and staff led by Darren Simpson whose dedication race internationally, meets best practice. We have also formed and team spirit has underpinned our performance this year, a close working relationship with the NSW RSPCA to not only notwithstanding significant internal change as GRNSW continued improve outcomes for ex-racers, but to improve the regulatory to evolve the way in which the regulatory affairs of the industry monitoring of participants from an animal welfare perspective. are managed.

8 9 SUMMARY OF FINANCIAL PERFORMANCE

The 2011/12 financial year was a unique one for GRNSW with had been deferred pending the outcome of the High Court a number of one-off events affecting both the final position and challenge against the Racefields Legislation. At the completion the presentation of the information. of the 2010/11 financial year GRNSW held $15,815,333 in deferred revenue. The completion of the case and the resultant On the income side Product Fees received from Tabcorp settlement with Tabcorp allowed GRNSW to realise $6,913,157 increased by 2.4% on the previous year. This was a welcome of the previously deferred balance. turnaround following the 1.4% decline which was experienced in 2010/11.

______2012 2011 ______Income ______Product Fees 30,704,497 29,994,372 ______Racefield Information Use Fees 8,905,038 5,285,537 ______Deferred Revenue Realised 6,913,157 ______Operational Revenue 1,365,582 ______Interest & Other 621,959 528,667 ______Total Income 48,510,233 35,808,576 ______Expenditure ______Scheme of Distribution Payments to Clubs 27,124,349 26,389,285 ______Administration Expenses 7,363,540 5,237,369 ______Club Incentive Scheme 1,827,059 2,135,191 ______Industry Infrastructure 3,493,445 2,750,000 ______Industry Advancement Projects 986,438 700,000 ______Racefield / Wagering Expenses 98,740 641,262 ______NCA Loan Forgiven 2,100,000 - ______Other 455,857 73,099 ______Total Expenditure 43,449,428 37,926,206 ______Surplus / Deficit 5,060,805 -2,117,630

However the improvement was not unexpected. 2011/12 saw During the protracted court proceedings the GRNSW Board TAB significantly increase its Fixed Odds offering, with markets had resolved to run the industry budget at a planned deficit, fully available on many more race meetings, as well as the continued aware of the deferred revenue which was being accumulated. installation of the Trackside animated racing game in TAB retail The realisation of part of these funds has now enabled the outlets, pubs and clubs. GRNSW’s share of the revenue generated accumulated losses to be eradicated and for the industry’s from these areas is all captured in the Product Fees line item. financial position to be returned to a positive one.

Racefield Information Use Fee revenue increased markedly A one-off expenditure item of note in 2011/12 was the loan to compared to the previous year. This figure was positively affected the NSW National Coursing Association (NCA) relating to the by the resolution to a dispute with Tabcorp regarding the construction of The Gardens complex being forgiven. The $2.1 payment of racefields fees, however if that impact is discounted million loan was effectively used by GRNSW as part payment revenue received through racefields fees was still up by just over for a 70% share of the property in March 2012. The buyout 14% year-on-year. guaranteed the future of The Gardens for the long term and was seen as imperative by the GRNSW Board to ensure that Without doubt the biggest impact to the financial position greyhound racing continued uninterrupted in the critical Hunter of GRNSW in 2011/12 was the realisation of revenue that region.

10 Importantly for the industry the GRNSW Board was in a This change alone saw over $250,000 added to prizemoney position to acquire the 70% share of The Gardens due to the payments in 2011/12. availability of funds that had come about from the resolution to the High Court case. GRNSW and the NCA have now entered Clubs which further supplemented prizemoney levels in 2011/12 into long term arrangements which see the NCA assume day- were once again rewarded via the Club Incentive Scheme. The to-day operational control of the venue, subject to their ongoing scheme pays clubs which host tote facilities a rebate based on compliance with the requirements of all NSW race clubs TAB turnover at their meetings as well as an incentive payment which is based on prizemoney paid over and above the amount If one-off abnormal items are removed from the figures for the they receive in distribution from GRNSW. In order to qualify for 2011/12 financial year the surplus for the year is reduced to a payment, clubs must also trade at a profit on Earnings Before $397,151, which paints a far more realistic picture of operations Interest, Tax, Depreciation and Amortisation (EBITDA). for the year. In 2011/12 clubs responded by paying out $1,171,267 more in A major development on the financial side of the organisation, prizemoney than the GRNSW minimum which shows that the which took effect on 1 July 2012, was the merging of the five scheme is producing the desired result by putting even more sets of financial accounts previously maintained by GRNSW. money back in to the hands of owners and trainers. The amount The Board took the view that one consolidated set of accounts each club received as an incentive payment this year is detailed provides the most efficient means of managing the financial in the table on page 29 along with on-course tote commissions affairs of the industry, allowing the flexibility required to react to and distribution payments. market events whilst eliminating administrative duplication. Whilst the table on page 10 indicates a sharp rise in spending on The financial accounts which appear in this Annual Report have Industry Infrastructure, this item is also affected by the change in adopted the new consolidated structure. This will allow for easy accounting practices. Until 2010/11 the expenditure attributed comparison in future years. Further, for this year only the notes to this area was simply the allocation made to the Greyhound to the accounts also include year-to-year comparisons for the Industry Development Fund (GIDF). The reality was that five individual accounts previously run by GRNSW, providing the spending in the GIDF never equated exactly to the allocation, highest possible level of clarity at this time of change. with the actual spend being determined by the volume of projects undertaken. The changes have also resulted in some differences in the table on page 10 of this report. For example, in previous years The 2011/12 expenditure of $3,493,445 is almost equal to the cost of administration was noted only as a charge against the actual GIDF spend of $3,401,868 in 2010/11. Both of the the industry for funding ‘GRNSW’ whereas in 2011/12 the last two years have seen GRNSW continue an unprecedented operational revenue received by GRNSW (for items such as modernisation of systems and practices within the sport. In licensing, registration, namings, transfers etc) has been shown as 2011/12 just over $1 million was allocated to the ongoing an income item. development of the OzChase IT system – the Joint Venture with Racing & Wagering WA which will now host every greyhound The GRNSW administration account did experience its own jurisdiction in Australia except Victoria – plus infrastructure for the one-off abnormal costs during 2011/12. Due to the re-structure remote stewarding initiative as well as continual improvements of integrity operations and the establishment of the control to our online offerings. room at Rhodes a number of long-serving staff members in the Racing & Integrity department elected to take redundancies. Industry Advancement Projects again included programs While this came at substantial cost to the business, it has also such as Betfair Blue Paws, Greyhounds as Pets, Greenhounds, seen over $225,000 removed from employee leave provisions the GRNSW Country Challenge, Club Partnership Grants in the balance sheet. (for marketing and promotion) and the hosting of the Betfair Greyhound of the Year. Prizemoney levels for standard races remained unchanged during the 2011/12 financial year (before a $625,000 increase came into effect on 7 July 2012). However increases were made to the prizemoney loading allowances paid to clubs. This enabled the clubs to meet the new standards introduced by AGRA which increased minimum prizemoney levels for Group races.

11 RACING REVIEW

2011/12 Racing Review

They say greyhound racing is one of the greatest levellers. Well nothing summed that up more than the 2011/12 racing season which started with a battling trainer from the tiny NSW town of Reefton taking centre stage and ended with Australia’s leading trainer, who makes $5 million a year from greyhound racing, basking in Group 1 glory.

In between that a NSW trainer won his third Betfair Greyhound of the Year award, a young Victorian dog came from relative obscurity to win the richest greyhound race in the world, while a superstar emerged from Western Australia winning 15 races in a row, breaking track records across Australia and capturing the public’s hearts.

That’s right, the 2011/12 racing season had it all.

And it all kicked off in July when Reefton trainer Margaret Bannerman took out the K.S Black & Co. Country Challenge with her kennel star Pindari Bale at Wentworth Park. The win was just reward for the duo who travelled thousands of kilometres around the state to compete throughout the 2010/11 GRNSW Country Challenge series.

The Showdown victory was made even sweeter due to the fact A little over a month later and another NSW greyhound Spring that Bannerman and Pindari Bale just missed out on the $12,500 Gun took out the Vic Peters Classic at Wentworth Park, giving prize for being the overall GRNSW Country Challenge winner trainer Christine Oldfield and owner Greg Board what they after losing on a countback to Proper Lucy. described as their “greatest thrill” in racing.

On the same night, racegoers saw some of the best up and Of course it would not have been a greyhound racing season coming stayers in the state going head to head in the final of without Young-based owner Paul Wheeler enjoying Group 1 the inaugural Sportingbet Super Stayers Series, in which Melkate success. But even he was in a state of shock when he qualified was victorious for Carolyn Reinke. seven of the eight runners in the Melbourne Cup in November.

As NSW shivered through August, the racing action headed to Wheeler’s power in numbers paid off, with one of his many the warmth of the Sunshine State for the National Sprint and star greyhounds Dyna Tron winning the cup. Dyna Tron went Distance Championships at Brisbane. And it was almost success on to win the Hobart Thousand and was eventually crowned for NSW in the Sprint Championship with Cold Fusion finishing Australian Greyhound of the Year before being retired to stud. second to Metz Magic. Before the calendar year was out, Noble Pedro stunned Adding to the NSW heartbreak, Queensland made it a Wentworth Park onlookers by breaking Queen Lauryn’s three clean sweep when Dashing Corsair took out the Distance year 520m track record on his way to winning the Group 3 AAA Championship, defeating a quality field that included NSW Radiators Specialist Christmas Gift. representative Zipping Lad. Dashing Corsair’s feat was made all the more remarkable considering he won the National Sprint The start of a new year brought more group racing glory. Championship in 2009. Newcastle took centre stage with Unibet Gardens staging two With the arrival of Spring came the arrival of NSW’s first Group Group 1s - the running of the Newcastle Herald National Derby 1 win of the season, when the Anthony Azzopardi-trained Fancy and Forsythe’s National Futurity. Midnight Capers for the Pringle Will scored a surprise victory in the Greyhound Recorder Paws family upstaged her more fancied rivals in the Futurity, while Sure Of Thunder. As scored a runaway win to take out the Derby, much to the delight of his popular trainer Sid Swain.

12 Oaks Road, meanwhile, started 2012 where he left off 2011 – Come final night and both greyhounds did not disappoint. Miata winning. He took out the Group 2 Multiquip Bob Payne Sprint at romped to her 13th straight win, while Don’t Knocka Him collected Wentworth Park in January before heading west and defeating a the $250,000 winners cheque for trainer Jason Thompson and quality field to win the Group 1 Sky Racing Perth Cup. owner Reg Kay for winning the Golden Easter Egg.

Oaks Road then took centre stage along with Zipping Lad and Miata went on to record 15 straight wins before being beaten in He Knows Uno as the nominees for the 2011 Betfair Greyhound the final of the Sandown Cup. of the Year in what was described as one of the closest contests in years. The arrival of May saw all NSW greyhound tracks get behind the red rug to support GRNSW’s 65 Roses campaign that raised The sport’s elite gathered in the Grand Ballroom at the Sydney money for Cystic Fibrosis NSW and Cystic Fibrosis Australia. Hilton to see super stayer Zipping Lad be crowned the state’s top Throughout the month, each GRNSW track staged their own greyhound, giving his trainer Jason Mackay his third Greyhound of 65 Roses Race Meeting, with GRNSW donating $250 to Cystic the Year success. The honour was just reward for Zipping Lad who Fibrosis every time a greyhound wearing the red rug won a race had won 20 races in 2011 including the Group 3 Summer Cup. at those meetings.

A fortnight later and the best greyhounds in Australia descended The campaign culminated in a cocktail function at Wentworth on Wentworth Park in a bid to win the Macro Meats Golden Park where the track’s iconic tower was turned red to celebrate Easter Egg – the richest greyhound race in the world. the occasion. Fittingly, the 65th red dog winner came on the final day of the campaign (May 31) and in the final 65 Roses Race Adding to the spectacle of the Golden Easter Egg was the Meeting at Dapto. In total more than $40,000 was raised for appearance of superstar Miata in the heats of the Hotham Body Cystic Fibrosis NSW and Cystic Fibrosis Australia. Repairs Association Cup – the state’s richest staying race. The racing season rounded off in June, but not before Paul While it is hard to imagine one greyhound taking attention away Wheeler could grab a final Group 1 to add to his mantelpiece. from the world’s richest greyhound race, Miata did just that Garrick Bale put every paw right to win the Rapidvite Peter breaking the 720m record in her first start at Wentworth Park Mosman Classic to ensure Wheeler’s greyhound operation won and registering her 12th straight win. $5 million in prizemoney for yet another season.

While Miata mania was taking over NSW, a Victorian greyhound by the name of Don’t Knocka Him showed he was the one to beat in the Golden Easter Egg after an easy win in his semi final.

Presentation to Vic Peters Classic winner Spring Gun

13 RACING & INTEGRITY

Race Day Integrity Changes The change to Rule 56 included a new rule that allows stewards to declare a greyhound a non-runner if they had their chances In 2011/12 GRNSW introduced a set of industry-leading in a race prejudiced by extraordinary circumstances. This rule regulatory reforms that led to major changes in the approach to means stewards are no longer obliged to declare a no race race day integrity operations. when only one or a small number of greyhounds have had their chances prejudiced. Stewards still have the discretion to Under the reforms, GRNSW established a control room at its call a no race if too many greyhounds have been affected by head office in Rhodes. The control room is manned by a Race extraordinary circumstances. Day Controller, who is assisted by an on-track Integrity Officer. The change to Rule 57 means greyhounds withdrawn from a During a race meeting, the control room receives live feeds of postponed meeting are now permitted to take their starting race broadcast footage, surveillance footage from the kennel place when that meeting is rescheduled. This only applies to blocks, while utilising video conferencing equipment to facilitate greyhounds who have not incurred a period of incapacitation. communication between the tracks and control room in real time. The amendment to Rule 86 created a specific offence for a person to use or have in their possession any device that is This Australian-first approach to stewarding has allowed capable of hindering the performance of a greyhound during a GRNSW to improve the oversight of greyhound racing in NSW race meeting or performance trial. This includes laser pointers, to unprecedented levels by making best use of technology. The squeakers or similar devices. central control room has enhanced integrity services by allowing for advanced monitoring of betting trends, early identification Other amendments included: of potential incidents, detailed post meeting reviews and one central contact point for race day operational matters. • Amendments to Rule 1 Definitions - add the meaning of a greyhound identification card; It has also significantly enhanced the coverage of venues which were only serviced by one Steward (eg. Casino and Lismore • Amendments to Rule 136 Result of service - clarifies that meetings). It also reflects modern wagering practices which have a litter of pups can not be relocated from their whelping shifted from on-course to off-course wagering operators. address until they have been micro chipped; and

The package of regulatory reforms and enhancements is • Amendments to Rule 137 Registration of a litter - allows for consistent with a number of strategies outlined in Chasing pups to be vaccinated at 10 weeks of age instead of from 12 2020 and have helped create a world class integrity model that weeks. provides increased certainty and confidence to punters. Local Rule Changes The changes have been rolled out over the vast majority of TAB tracks, with more tracks to adopt the new operating model in The GRNSW Board approved a number of new rules in 2012/13. 2011/12.

National Rule Changes In September, a policy was introduced allowing the administration of Prednefrin Forte eye drops for greyhounds affected by On 25 October 2011, Greyhounds Australasia announced Pannus, which is a debilitating eye condition. The policy was amendments to the National Racing Rules, effective 1 January approved following an extensive study conducted by GRNSW’s 2012. Greyhound Welfare and Veterinary Services Unit.

The most significant Rule changes for participants were those In May, the GRNSW Board approved a new rule which outlines made to Rules 24, 32, 56, 57 and 86. the distance a greyhound must trial over when they have been stood down for offences such as marring or failing to pursue the The change to Rule 24 meant that the 28 day ban on a greyhound lure. The new rule was adopted after GRNSW stewards fielded in season now begins from the date of the meeting that the many requests from trainers who were seeking to trial offending greyhound was initially withdrawn. greyhounds over distances that were much shorter than the races in which an offence occurred. The amendment to Rule 32 meant the onus to present a greyhound in proper condition for racing now lies with the New criteria were also introduced in 2011/12 regarding trainer rather than the handler. greyhounds nominating for performance trials after it was

14 Appeals

During 2011/12, six appeals to the Racing Appeals Tribunal relating to greyhound racing matters were determined (compared to seven in 2010/11). ______Result ______Upheld 0 Dismissed 3 ______Dismissed – Penalty Varied 3 ______Withdrawn 0 ______Disciplinary action against participants in 2011/12 involved 11 disqualifications (seven in 2010/11) and fines totalling $35,040 ($28,150 in 2010/11).

Drug______Analysis and Testing ______Year % of positives No. of samples tested ______2002-03 1.56 3016 ______2003-04 1.30 3085 ______2004-05 1.23 3241 West Australian Superstar - Miata ______2005-06 1.68 3028 ______2006-07 2.16 3277 found many greyhounds which competed satisfactorily were ______2007-08 1.01 3177 subsequently being entered for further trials at the same track, ______2008-09 0.83 2996 taking the place of greyhounds which had not yet passed their 2009-10 0.94 3393 first trial. ______2010-11 0.77 3398 Goulburn Starts TAB Racing ______2011-12 1.27 3783

In September 2011, GRNSW announced Goulburn would 2011/12 resulted in the highest number of samples being tested undergo a significant upgrade of its racing facilities that would in the last ten years. Of the 3,783 samples tested during 2011/12, allow the club to conduct regular TAB C meetings from the 48 returned positive results – the highest percentage of positives middle of 2012. recorded since 2006/07.

The $900,000 upgrade to the Goulburn facilities was made While the increase in positive swabs is disappointing, it underlines possible due to an unprecedented three-way partnership the success of GRNSW’s current approach to drug detection between the NSW Government, Goulburn Mulwaree Council which includes a policy of target testing based on form and and GRNSW. precedent, as opposed to the random draw after the race.

The new facilities include a world-class kennel block and a new For the 2012/13 financial year, GRNSW has nearly doubled its judge’s tower. swabbing budget, a rise that will allow the number of swabs in the TAB sector to increase to an average of 7.5 swabs per The upgrade was completed on schedule and on budget in July meeting. It will also result in the swabs to starter ratio rising by 2012 and the first TAB C meeting took place at Goulburn on more than 2.5 times. 31 July 2012. The increased expenditure on drug detection will result in the The introduction of TAB C racing at Goulburn provides an extra number of swabs being carried out at TAB meetings increasing option for owners and trainers based between Sydney and from 2,764 to an estimated 6,750 in the 2012/13 financial year Canberra and other parts of Southern NSW. – a rise of more than 150%.

15 GROWTH & SUSTAINABILITY

Greenhounds

In October 2011, GRNSW and the Hon. Don Page, Minister for Current owners of greyhounds have embraced the Greenhounds Local Government, launched the Greenhounds program at a program, with the 100th Greenhound approved for muzzle special event at the Sydney Mint, in the heart of Sydney’s CBD. exemption in July 2012.

The program allows for pet greyhounds to go muzzle free in GRNSW’s Greyhounds As Pets became officially approved public places after they successfully complete a re-training by the NSW Government as the first Greyhound Re-Training program and are deemed suitable by an approved Greenhounds Program. assessor. Once approved, all ‘Greenhounds’ must wear a special green collar with ID tag at all times when in public. The approval means GRNSW Greyhounds As Pets can re-train retired racing greyhounds in order for them to be assessed for The program was made possible after the NSW Companion muzzle exemptions through the Greenhounds program. This will Animal Regulations were amended to provide the muzzle allow prospective greyhound owners to adopt greyhounds that exemption and brings NSW in line with Victoria, Queensland, have passed official re-training tests and that are also muzzle South Australia and the Australian Capital Territory. exempt.

The Greenhounds program has already delivered numerous Greyhound Welfare and Veterinary Services Unit benefits since its launch. In July 2011 GRNSW established its own Greyhound Welfare Not only has it changed the perception that greyhounds are and Veterinary Services Unit. an aggressive breed, it has also improved the transition of greyhounds from racing to life as a companion animal, which is an This resulted in GRNSW assuming responsibility for the provision ongoing commitment of GRNSW. In addition, the Greenhounds of on-course veterinarians at all TAB meetings, with the rollout website www.greenhounds.com.au provides the public with easy having already occurred at metropolitan and provincial tracks. to access information about greyhounds, including those that are The primary functions and responsibilities of the GRNSW available for adoption. Greyhound Welfare and Veterinary Services Unit are:

• Provision of veterinary services at TAB meetings and for the Greyhounds As Pets program;

• Development and implementation of a canine health and welfare program;

• Providing expert advice to GRNSW on veterinary matters; and

• Taking strategic responsibility for the development and oversight of research programs into drug issues.

Headed by one of Australia’s most respected greyhound veterinarians, Dr Brian Daniel, the GRNSW Greyhound Welfare and Veterinary Services Unit has brought a level of skill, expertise and knowledge to GRNSW that it previously did not have.

Since its establishment the unit has developed and published a number of welfare policies, such as the Hot Weather Policy, which provides advice on what owners and trainers can do to ensure the welfare of their greyhounds on hot days. The unit has also been working on a series of fact sheets, with the first release covering Pannus, a common condition in greyhounds.

16 Pannus Exemptions • Expansion of the Greyhounds As Pets and Corrective Services NSW partnership, through the introduction of a From 1 January 2012 GRNSW introduced a rule change that foster program at the Dillwynia Correctional Centre; and created an exemption for eye drops to be used on greyhounds affected by Pannus. • Development of reporting procedures - in partnership with the RSPCA - to ensure complaints about the welfare of Pannus, or chronic superficial keratitis, is a common condition greyhounds are dealt with under the Rules of Racing and seen in greyhounds that affects the surface of the eye. If left appropriate laws. untreated, it can cause visual impairment. Funding for Industry Training Pilot The new rule means greyhounds that are registered with GRNSW as being affected by Pannus are allowed to race In 2011/12 GRNSW secured more than $70,000 from the without penalty while undergoing treatment. NSW Department of Education and Communities to develop a pilot program which is aimed at improving the skills of people The exemption is only granted after owners and/or trainers follow who are working in the greyhound racing industry. a prescribed process which formally records their greyhound as Pannus affected. The change improves the welfare of greyhounds The funding was sourced by GRNSW to tackle the lack of affected by Pannus by ensuring they receive adequate treatment training and development opportunities for NSW participants for the condition, while also prolonging their racing career. that want to learn different aspects of greyhound racing or receive recognition for skills they have gained through on-the- Greyhound Welfare job experience.

GRNSW embarked on a number of initiatives in 2011/12 that The pilot will address significant skill gaps within the industry, with continued to drive improvement and cultural change in the area a particular focus on Work Health and Safety. It will also prepare of greyhound welfare, including: participants with training in relevant skills such as handling and transporting greyhounds, performing kennel responsibilities, and • The introduction of a policy in July 2011 that makes the complying with the Rules of Racing. attendance of veterinary surgeons on-course at all Non- TAB meetings compulsory. Previously these meetings were GRNSW is now working with the NSW Department of only required to have a veterinary surgeon on call; Education and Communities, State Training Services and the Hunter Institute of TAFE to develop the pilot program, to ensure • The ongoing development of policies to ensure the it is relevant, consistent and adheres to industry protocols. accountability of greyhound welfare across the entire lifecycle, including Codes of Practice for breeding and rearing; The program is due for release in October 2012.

17 INDUSTRY & STRATEGY

OzChase GRNSW is confident that once implemented, OzChase will not only significantly improve its internal processes, but also the In July 2010 GRNSW entered into a partnership with Racing quality of its outward customer service to all members of the and Wagering Western Australia (RWWA) to develop a new sport. information technology system encompassing commercial and regulatory operations. The Joint Venture Greyhound Racing Operating Standards System, known as OzChase, has already helped streamline and upgrade various business practices within GRNSW. The ongoing modernisation of the Operating Standards for NSW Greyhound Racing Clubs continued in 2011/12. GRNSW Over the 2011/12 financial year, GRNSW and RWWA continued reviewed and updated Standard 10 to reflect the introduction of to develop phase two of OzChase, which shifted towards a new national model legislation that came into effect in NSW on focus on enabling the system to host the operations of Tasmania, 1 January 2012, known as the Work Health and Safety Act 2011 South Australia and Northern Territory. These greyhound racing and the Work Health and Safety Regulations 2011. jurisdictions went live on the system on 6 August 2012 with basic racing functionality and full licensing and registration capabilities. The new standard, now titled ‘Work Health & Safety Policy and Compliance’, was reviewed to ensure it is consistent with the The next phase in OzChase development includes modules for new Work Health & Safety (WHS) laws and that clubs have up- stewarding, race day operations, grading, microchip management to-date information on their obligations under the legislation. and penalties, as well as an improved animal welfare capacity which will enable lifetime tracking of greyhounds, due for The standard provides detailed information to clubs which will completion in early 2013. Importantly, the system will also be assist them to establish and implement robust systems and hosting all greyhound racing jurisdictions in Australia (with the procedures in WHS. The new standard is simpler and easier to exception of Victoria), bringing unprecedented operational understand, with a revised WHS Document Toolkit including efficiency to the sport. improved templates and tools, reducing the administrative burden on NSW greyhound racing clubs.

18 GRNSW continues to provide public liability insurance cover Betfair Blue Paws for the majority of clubs, which assists them in meeting the requirements of Standard 9 - Insurance Coverage - of the The Betfair Blue Paws Breeders and Owners Incentive Scheme Operating Standards for NSW Greyhound Racing Clubs. has paid out over $1.5 million in bonuses since its inception. A total of 12,791 eligible races have been conducted throughout GRNSW’s management of the policy has led to continued NSW across both TAB and Non-TAB tracks, with bonuses reductions in insurance premium costs for NSW greyhound racing paid to 4,058 winners. In addition, over 12,500 pups have been clubs. There have also been a reduced number of claims from nominated into the scheme. accidents and reduced costs for GRNSW as the administrator of the sport. These improvements have been facilitated by the A statistical summary of the Betfair Blue Paws Breeders and Operating Standards for NSW Greyhound Racing Clubs that Owners Incentive Scheme for the 2011/2012 financial year is as follows: have led to higher levels of compliance and stronger operations, ______improving the risk management, performance efficiency, safety Number of New Blue Paws Nominations 2,547 and accountability of NSW greyhound racing clubs. ______Number of Blue Paws Races 2,502 ______Infrastructure Projects Number of Blue Paws Nominated Winners 929 ______Winning Percentage of Blue Paws Races 37.13% Throughout the 2011/12 financial year the Greyhound Industry ______Development Fund (GIDF) supported a number of maintenance Bonuses Won and Paid $325,753 items and new projects across NSW clubs including: ______Trial Tracks • $315,000 for the new kennel facility and judges tower at Goulburn. This project was equally funded in conjunction The following trial tracks were registered in accordance with the with the Goulburn Mulwaree Council and the NSW State GRNSW Trial Track Registration Policy during 2011/12: Government; • Abernethy Trial Track • $118,000 for the grandstand seating replacement at • Box Hill Trial Track Wentworth Park Sporting Complex; • Cardiff Greyhound Social Club • $73,000 for the upgrade of the lure system at Bathurst; • Casino Trial Track • $48,500 for the upgrade to the catering facilities at Grafton; and • Cessnock and District Agricultural Association • Glengarrie Trial Track • $26,000 for the irrigation system upgrade at Wagga Wagga. • Keinbah Trial Track Over the past year GRNSW approved a total of 62 projects through the GIDF and a total of 263 projects through the • Sunny Lodge Education Centre Maintenance & Venue Improvement Allowance program. • Tubbul Breaking In Centre

• Wollondilly Trial Track.

19 PUBLIC RELATIONS & DIGITAL

65 Roses Campaign GRNSW Eve McGregor presents a cheque for $40,636 to Cystic Fibrosis Australia CEO David Jack. In May 2012 GRNSW launched the 65 Roses campaign which helped raise money for Cystic Fibrosis Australia and Cystic Fibrosis NSW.

Cystic Fibrosis is the most common life threatening, recessive genetic condition affecting Australian children. At present there is no cure, however, organisations such as Cystic Fibrosis Australia (the national body) are dedicated to funding further research into the condition and Cystic Fibrosis NSW to providing services and support to people in NSW who live with Cystic Fibrosis.

As part of the 65 Roses campaign, each of the 35 greyhound racing tracks in NSW staged their own 65 Roses Race Meeting in May 2012. Every time a greyhound wearing the red rug (number one) won a race at a 65 Roses Race Meeting, GRNSW donated $250 to Cystic Fibrosis.

The highlight of the campaign came when the target of 65 Red Dog winners was fittingly reached at the final 65 Roses Race Meeting at Dapto on 31 May 2012.

Due to the support of all NSW greyhound clubs, the campaign was a huge success with more than $40,000 raised for Cystic Fibrosis NSW and Cystic Fibrosis Australia. This was the biggest single donation to the organisations’ annual fundraising campaign which aims to improve the lives of people living with Cystic Fibrosis.

The campaign also exposed the sport to members of the public In other major awards former long serving Casino Greyhound across NSW who had previously had no involvement or interest Club secretary Don Waldron was awarded the prestigious Allen in greyhound racing. This was helped by the support of the WIN Wheeler Medal for lifetime achievement, Richmond Race Club and NBN Television networks, who were GRNSW’s media was named Greyhound Recorder Club of the Year, Andy Lord partners for the entire campaign. won the Virbac Animal Health NSW Trainer of the Year title, and the Mudgee Guardian took out the Betfair Media Coverage of Betfair Greyhound of the Year Awards the Year award.

More than 340 people descended on the Sydney Hilton on 3 Media personality and greyhound owner Russell Barwick once March 2012 for greyhound racing’s night of nights - the 2011 again hosted the evening, which featured extensive video NSW Betfair Greyhound of the Year. highlights of the achievements of the various award winners, thanks to The Dogs TV. It was the third year Betfair had been involved with the event and underlines the company’s support for greyhound racing in As part of the constant evolution of the event, the 2012 Betfair NSW and the sport’s participants. Greyhound of the Year awards will be staged at the iconic Sydney Town Hall in March 2013. The judging panel had their toughest task in years sorting through a top list of candidates to decide the three finalists for Media Exposure the top award. They eventually decided the Jason Mackay trained Zipping Lad should win the award, edging out fellow nominees Across 2011/12 there were more than 1,100 print articles, Oaks Road and He Knows Uno. radio and television spots in the NSW media with mentions of GRNSW or its programs. This figure also includes any mention of greyhounds in metropolitan media.

20 This equates to more than seven hours of radio and TV airtime The most popular pages across the portal were race fields, race and a cumulative viewing audience of 210 million people across results and expert form guide pages, which can all be accessed the entire country. There was also 219 photographs published free of charge by members. featuring greyhound racing during the year. In October 2011, GRNSW launched www.greenhounds.com.au The following programs, events and issues received regular to coincide with the launch of the Greenhounds program. coverage during the 2011/12 financial year: the 65 Roses campaign; the GRNSW Country Challenge; the NSW Betfair The Dogs TV Greyhound of the Year; Greenhounds; the Macro Meats Golden The last 12 months has marked the second full year of operation Easter Egg; and the settlement of the Race Fields Legislation High for The Dogs TV which has proved to be an industry leader in Court case. online video content. Club Partnership Grant The site has drawn on the support of a host of industry In 2011/12 the Club Partnership Grant (CPG) was used by clubs personalities in providing regular and feature programs, combined right across the state to help fund marketing and promotional with race replays from all TAB tracks. The Dogs TV had more activities. The funds were used to promote greyhound racing than 410,000 video views logged in the 2011/12 period, up 29% to the wider general public and particularly in regional areas on the previous 12 months. surrounding major race meetings and Country Challenge Finals. The highest viewed content on The Dogs TV included the This year the funds were especially valuable for clubs to boost coverage of the National Championships in Brisbane, the their promotional campaigns for the 65 Roses Race Meetings. exclusive announcement of the 2011 Betfair NSW Greyhound Many clubs used the CPG to advertise the charity meetings of the Year nominees, as well as the official announcement of the locally and also provide extra exposure through the GRNSW 2012 Macro Meats Golden Easter Egg heats fields. television commercials. Social Media The CPG was also used extensively by TAB tracks to promote Communication activities continued to focus heavily on social their major race carnivals. Wentworth Park put its CPG allocation media across the 2011/12 year. Increased conversation was to good use in promoting the richest race in the world - the experienced through Facebook and Twitter channels, as well as Macro Meats Golden Easter Egg - with funds providing for a the Dogs TV YouTube channel. Followers also increased on the large video screen for final night, mobile advertising through the Greyhounds As Pets Twitter and Facebook pages. City of Sydney and promotional flyers across the local Glebe and Ultimo areas. As can be seen in the following table, by July 2012 GRNSW had Website 4,637 Facebook fans (2,397 in July 2011) and 1,545 followers on Twitter (1,028 in July 2011). The industry leading website thedogs.com.au continued to go Facebook Fans from strength to strength over the past 12 months, with the ______portal now boasting more than 18,000 members. GRNSW 4,637 ______Greyhounds As Pets 2,267 GRNSW continues to provide three weekly newsletters to ______subscribers with all the latest greyhound racing news and tips, ______Greenhounds 2,296 while the monthly E-Chaser newsletter has also garnered a solid following.

Overall, website traffic has significantly increased from the Twitter Followers ______2010/11 financial year with a 19% increase in unique visitors @thedogs_com_au 1,545 accessing thedogs.com.au over the last 12 months. Visits increased ______@GAPNSW 372 by more than 15% across this time with a total of 13.93 million ______page views. @GreenhoundsNSW 38 ______

21 CHASING 2020

Chasing 2020 Progress Update - Status of Year 2 Projects Strategy Project Outcome

Growth

GRNSW will develop targeted information Detailed ownership guide Syndication is a key element of greyhound ownership. and support services to remove current GRNSW is unable to finalise the ownership guide barriers to ownership in NSW, including: without clarity around the legality of the greyhound syndication model • A detailed ownership guide GRNSW continued to work with Greyhounds Australasia and the Australian Securities and Investments Commission (ASIC) to develop a sustainable syndication model that meets the needs of the NSW and Australian Greyhound Industry. Awaiting final ASIC decision on regulatory relief for greyhound syndication activities

Develop a business development package to Business development package Deferred pending outcomes of GRNSW strategic assist clubs to grow revenue and on course direction review attendance

Image

GRNSW will undertake targeted advertising Targeted advertising and Customer Relationship Marketing Manager added to and promotional campaigns to drive increases promotional campaigns GRNSW team in wagering revenue, passive ownership and Implementation of targeted strategies to begin in the oncourse attendance by drawing on the second half of 2012 strengths of the sport to market the product

GRNSW will increase the awareness and Promotion and showcasing of the GRNSW continued to produce and release knowledge of greyhounds through showcasing greyhound breed promotional pieces on The Dogs TV during 2011/12. of the breed via targeted media, thedogs. Greyhounds As Pets officially approved by the NSW com.au, increased community engagement, as State Government as the first Greyhound Re-Training well as committing additional resources to a Program revamped and refocused Greyhounds as Pets program

Develop an integrated promotions package Integrated club promotions Finalisation and production of club promotions to assist clubs to advance greyhound racing in package package delayed pending outcomes of GRNSW their community strategic direction review Racing

GRNSW will review the NSW breeder and Review of breeders and owners Project delayed pending the implementation of phase owners incentive scheme to ensure a model incentive scheme three of OzChase in 2013 that spreads rewards optimally amongst participants

GRNSW will develop and implement Development of standards and Training guidelines complete, with rollout scheduled standards and guidelines for consistent track guidelines for consistent track for the second half of 2012, with a focus on WHS preparation for trials and racing across the preparation compliance TAB sector to ensure punter consistency and improved animal welfare

GRNSW will explore ways to enhance Race data and results Short report delivered outlining best practice the collection of racing data and improve methods in race data collection domestically and consistency in the provision of race results internationally and data Collection of additional sectional timing to be implemented at selected TAB tracks in the second half of 2012 GRNSW will develop and trial a new method Higher prize money levels for Higher prize money levels for graded races run over of prize money allocation at TAB tracks to graded races run over the the distance of 565m or above to continue during improve product attractiveness, encourage distance of 565m or above 2012/13 increased wagering and maximise racing opportunities for greyhounds

22 Chasing 2020 Progress Update - Status of Year 2 Projects ... cont’d Strategy Project Outcome

Sustainability

Drive welfare improvement and cultural Licensing of breeders and GRNSW continued work on three new Codes change to ensure greyhound racing in NSW rearing establishments of Practice for the areas of breeding, rearing and meets community expectations through: greyhound pre training - to be released in 2013

• Improved licensing and regulation of Development and The Greenhounds program - to facilitate the muzzling breeders, trainers and rearing establishments implementation of the exemptions for retired racing and pet greyhounds - was • Increased re-homing of greyhounds Greenhounds Initiative launched in October 2011 • Continued promotion of Greyhounds as Pets The Greyhounds As Pets program is continuing to and the greyhound breed in general grow through its ongoing relationship with the NSW Department of Corrective Services, with an additional 28 kennels expected to be ready in December 2012 The GRNSW Greyhound Welfare and Veterinary Services Unit developed facts and information documents about racing and pet greyhounds GRNSW will develop and implement training Information seminars for clubs Training material developed during 2011/12 and courses and information seminars to assist and participants seminars for participants to commence in October participants and club administrators to develop 2012 skills and knowledge in a range of areas Seminars being developed include: • Substance and swabbing education • Introduction to responsible breeding • Introduction to greyhound racing and race day kennel operations GRNSW will improve the information and Owner, trainer and breeder Multiple owner, trainer and breeder case studies were support tools provided to participants, case studies produced and released on The Dogs TV during 2011/12 clubs, prospective owners and interested Public trainers listing There is currently a lack of appropriate data to stakeholders on thedogs.com.au, including: inform the review. Project will resume following the • Owner, trainer and breeder case studies on implementation of phase three of OzChase in 2013 thedogs.com.au and The Dogs TV • A review and improvement of the public Review of ownership cost index The revised ownership cost index will be released in trainers listing and associated information 2013 in conjunction with the Codes of Practice for • A revised and expanded cost index, including breeding, rearing and pre training industry accepted rearing, breeding, break-in and training fees / deals

GRNSW will support the next generation Skills enhancement pilot program GRNSW secured funding through the NSW of participants through the exploration and Department of Education and Communities to develop creation of education, skills development and a pilot course - Cert II in Racing (Greyhound) to accreditation opportunities in partnership with commence in October 2012 training organisations In addition, as part of the vocational and education framework GRNSW with TAFE developed formal training procedures for: • Microchip Implantation • Identify and respond to greyhound behaviour

Governance

Continually develop and adopt best practice in Improved regulatory operations In September 2011, GRNSW implemented world integrity operations class regulatory reform overhauling Race Day Integrity Services, delivering enhanced scrutiny of TAB racing in NSW

Become an innovator in information Development of new Development of OzChase continued during 2011/12, technology through the development of a new information technology system with modules covering race day operations, grading and computer system for managing integrity and for commercial and regulatory penalties to be delivered in 2013 commercial operations operations

23 The Board

Eve McGregor - Chairman BA LLB

Ms McGregor is a Corporate the Australasian Mechanical Lawyer with extensive in house Copyright Owners Society and experience in the areas of media Southern Star Entertainment. rights, licensing and distribution, Most recently, Ms McGregor has copyright and general commercial acted as the Senior Legal Counsel matters. Ms McGregor was at Fox Sports and as a consultant to appointed to the Board of GRNSW an Australasian Racing Rights Holder. in February 2012. Ms McGregor has been Chairman Ms McGregor is a former Senior of GRNSW since February 2012. Corporate Lawyer at Sky Channel and Tabcorp, and prior to this held senior legal roles with the Australasian Performing Rights Association,

David Clarkson - Deputy Chairman MA (Oxon) FCA

Mr Clarkson is a Chartered Accountant, having worked for Ernst & Young in London and Sydney. He was appointed to the Board of GRNSW in February 2012.

He is currently the Financial Controller and Company Secretary of the Australian Financial Markets Association.

From 1987 to 2006 he was the Finance Manager of the Australian Jockey Club and is a former Director of the Dubbo Turf Club.

24 Murray Nicol George Bawtree Joyce Alamango MBA (MGSM) BA FIPAA

Mr Nicol was appointed to the Board Mr Bawtree is a consultant working in Ms Alamango was first appointed to the of GRNSW in May 2008. the public sector, particularly on major Board of GRNSW in February 2008. Ms infrastructure projects in the area of Alamango has been an active owner and His 40 years experience in nearly all stakeholder relations, communications trainer in greyhound racing for more facets of the gaming and wagering and probity. than 32 years. industry commenced with the NSW TAB in 1969. He was appointed to the Board of Ms Alamango was a member of the GRNSW in February 2012. Greyhound Racing Authority Board He has formerly held senior positions between 2001 and 2003. She was with AWA Totalisators, Club KENO, From 2004 to 2007 he was the Chief the Trainers representative on the Stargames and Shuffle Master Inc. Executive of GRNSW and prior to this Greyhound Racing Industry Participants USA and consulting positions to NSW held senior positions in Sydney Water. Advisory Committee (GRIPAC) Racing, Tabcorp Victoria and Sportsbet and was previously Secretary of the Mr Bawtree has extensive involvement in Australia (NT). Registered Greyhound Participants volunteer based professional, community Association (RGPA). Mr Nicol is also a past President of the and sporting organisations. New South Wales National Coursing Ms Alamango has also served as the Association. alternate to the Chief Operating Officer on the Board of the Wentworth Park Trust. Apart from the greyhound industry, Ms Alamango runs her own small business.

25 BOARD MEMBERS REPORT

Members Meetings of Previous (Industry Representative) Board Members of the GRNSW Board are appointed under the Greyhound Racing Act 2009. The names and particulars of the During the financial year, the previous Board met seven times. Board Members in office on the day this report is made out are Attendance at meetings was as follows: as indicated on pages 24 and 25.

Board Membership Changes Board Members Attended held ______P. Allan 7 7 Board Members are appointed for a maximum term of four ______years under the Greyhound Racing Act 2009. The current term M. Nicol 7 7 ______expires in February 2016. G. Mangafas 7 7 ______There were major changes to the Board of GRNSW in this J. Primmer 7 7 ______financial year. T. Green 7 7 ______The industry representative Board of GRNSW met for the last J. Alamango 7 7 ______time in January 2012.

In February 2012 the first independent Board of GRNSW met, Meetings of Current (Independent) Board with Eve McGregor appointed as Chairman. The terms of the During the financial year, the current Board met five times. Members of the independent Board are: Attendance at meetings was as follows: • Eve McGregor – four years; • David Clarkson – four years; Board Members Attended held ______• George Bawtree – four years; E. McGregor 5 5 ______• Joyce Alamango – two years; and M. Nicol 5 5 ______• Murray Nicol – two years. D. Clarkson 5 5 ______G. Bawtree 5 5 ______J. Alamango 5 5 ______

Wentworth Park track record holder - Noble Pedro

26 During the period 1 July 2011 to 30 June 2012, there were no Remuneration and Nomination Committee occasions when substitute delegates attended meetings of the Board. The Remuneration and Nomination Committee is responsible for recommending to the Board: Meetings of Board Committees • The appointment of a Chief Executive; The Board of GRNSW has established two Committees to consider matters relating to the functions below, as well as • Recommendation of policy for payment of remuneration other matters as allocated to each Committee by the Board and allowances of Directors/members; and of GRNSW from time to time, and to prepare reports and recommendations on such matters for the Board to consider • Undertaking a detailed review of the Chief Executive’s as a whole. performance.

The appointed permanent members of a Committee form the During the financial year, the Remuneration and Nomination core membership of each Committee. However any member Committee did not meet. The review of the Chief Executive’s of the Board who is not a permanent member of a Committee performance was undertaken during a normal board meeting. may attend any meeting of the Committee. Honorary Historian Audit and Compliance Committee John Tracey continues to serve as GRNSW’s Honorary The Audit and Compliance Committee is responsible for Historian, collecting historical documents, photos, films and other overseeing and appraising the quality of the external audit and memorabilia about the greyhound racing industry and displaying the internal control procedures, as well as setting, reviewing these at public venues where appropriate. and ratifying corporate compliance policies, and overseeing the Freedom Of Information implementation of a corporate compliance system regarding financial, policy and employment issues, with a particular There have been no Freedom Of Information requests made to focus on: GRNSW in 2010/11 or 2011/12. • Financial reporting and practices; Subsequent Events • Business ethics, policies and practices; • Accounting policies; and There were no significant events after 30 June 2012 affecting the financial position of the entity. • Management and internal controls. During the financial year, the Audit Committee met on one Indemnification of Officers and Auditors occasion. GRNSW has paid an insurance premium for Directors and Committee Members Attended held ______Officers liability insurance for Members of the Board and P. Allan (Chair) * 1 1 management. GRNSW has not otherwise, during or since the ______financial year, indemnified or agreed to indemnify an Officer T. Green* 1 1 ______or auditor of itself or of any related body corporate against a J. Primmer* 0 1 liability incurred as such by an Officer or auditor. ______G. Mangafas 1 1 ______J. Alamango 1 1 ______* Core Members of Committee

Core Members of the Audit Committee of the Independent Board are David Clarkson and George Bawtree.

27 GRICG

Greyhound Racing Industry Consultation Group GRICG Chairperson’s Report

Established under the NSW Greyhound Racing Act 2009, the Mark Alamango replaced Roy White as the representative for Greyhound Racing Industry Consultation Group (GRICG) has the Registered Greyhound Participants Association in February the function of consulting with and making recommendations to 2012. GRICG members would like to thank Roy for his GRNSW on matters concerning greyhound racing in NSW. contribution during his time on GRICG and wish him all the best with his personal endeavours. GRICG is required to meet at least six times a year. The members of GRICG are honorary and no remuneration is payable to them GRICG held six meetings during 2011/12 and discussed the in respect of the duties they perform. following issues: • Grading, in particular eligibility for Free For All races and The current membership of GRICG is as follows: drop-back rules; Christine Mackenzie (Chairperson) • The establishment of a threshold for the testing of Procaine TAB Clubs Representative that differentiates between accidental ingestion through Ron Arnold (Deputy Chairperson) contaminated food and deliberate administration; Country Clubs Representative • Reinforcement of the dress code, no smoking policy while George Hayes handling greyhounds and prohibition of using a mobile phone NSW Greyhound Breeders Owners and Trainers Association when handling a greyhound; Bob Green • Ongoing prize money increases, that at a minimum, cover NSW Greyhound Breeders Owners and Trainers Association yearly CPI movements; and

Mark Merlino • Development of a greyhound show in conjunction with the Bookmakers representative Royal Easter Show to promote greyhounds to the wider community. Mark Alamango Registered Greyhound Participants Association In addition to the above issues, GRICG continues to have input into Grading Policy improvements and remains committed to pursuing equalisation in funding for TAB A and B clubs.

I would like to thank participants, stakeholders and GRICG members for their support over the last year and we look forward to the challenging times that the future will no doubt bring.

Christine Mackenzie GRICG Chairperson

28 PAYMENTS TO CLUBS

SOD Club On Course Club / Entity Payments Incentive Scheme Tote TOTAL ______Armidale 87,570 3,077 90,647 ______Broken Hill 150,120 5,177 2,124 157,420 ______Casino 1,141,265 89,012 46,635 1,276,912 ______Coonabarabran 87,570 87,570 ______Coonamble 106,335 22,983 129,318 ______Cowra 118,345 12,547 130,892 ______Dapto 1,506,470 82,759 111,103 1,700,332 ______Dubbo 348,930 23,117 19,221 391,269 ______Forbes 71,560 71,560 ______GBOTA - Appin 175,140 8,405 6,385 189,930 ______GBOTA - Bathurst 882,600 22,800 45,114 950,514 ______GBOTA - Bulli 1,199,090 4,371 58,115 1,261,577 ______GBOTA - Gosford 1,280,370 12,825 80,564 1,373,759 ______GBOTA - Gunnedah 156,375 12,009 2,621 171,005 ______GBOTA - Lismore 1,225,460 23,827 37,073 1,286,360 ______GBOTA - Maitland 1,145,660 33,464 47,315 1,226,440 ______GBOTA - Temora 175,140 6,705 1,111 182,956 ______GBOTA - Wentworth Park 9,188,501 100,000 339,275 9,627,776 ______Goulburn 237,690 2,396 9,059 249,145 ______Grafton 400,025 43,666 25,724 469,415 ______Kempsey 162,630 8,507 891 172,027 ______Lithgow 237,190 6,409 243,599 ______Moree 107,090 2,435 109,525 ______Mudgee 73,560 735 47 74,342 ______Muswellbrook 174,640 507 175,147 ______NCA - The Gardens 2,718,775 154,842 2,873,617 ______Nowra 861,925 26,938 29,293 918,156 ______Richmond 1,882,480 10,415 104,806 1,997,701 ______Social Club 137,610 9,657 147,267 ______Tamworth 125,100 1,262 488 126,849 ______Taree 162,630 15,619 1,523 179,773 ______Tweed Heads 237,690 42,588 280,278 ______Wagga Wagga 293,348 46,903 14,508 354,759 ______Wauchope 149,620 9,977 159,597 ______Young 115,845 5,047 970 121,862 ______TOTALS 27,124,349 641,459 1,193,486 28,959,294 ______

29 GIDF ACTIVITY

Club / Entity MVIA Other Total ______Funding Funding GIDF ______Armidale 3,869.35 3,869.35 ______Broken Hill 10,352.67 15,000.00 25,352.67 ______Casino 24,651.85 24,651.85 ______Coonabarabran 12,576.74 12,576.74 ______Coonamble 1,146.36 1,146.36 ______Cowra 5,140.00 15,000.00 20,140.00 ______Dapto 42,714.18 42,714.18 ______Dubbo 21,817.27 21,817.27 ______Forbes 3,145.46 3,145.46 ______GBOTA - Appin 11,966.84 47,528.95 59,495.79 ______GBOTA - Bathurst 18,790.45 73,152.09 91,942.54 ______GBOTA - Bulli 34,833.22 34,833.22 ______GBOTA - Gosford 34,770.79 10,000.00 44,770.79 ______GBOTA - Gunnedah 6,069.63 6,069.63 ______GBOTA - Lismore 30,272.82 33,407.68 63,680.50 ______GBOTA - Maitland 20,360.80 20,360.80 ______GBOTA - Temora 10,129.46 19,000.00 29,129.46 ______GBOTA - Wentworth Park 282,621.98 282,621.98 ______Goulburn 13,953.79 406,030.06 419,983.85 ______Grafton 14,730.54 99,566.17 114,296.71 ______Kempsey 3,790.00 3,790.00 ______Lithgow 4,181.75 4,181.75 ______Moree ______Mudgee ______Muswellbrook 10,192.27 10,192.27 ______NCA - The Gardens 25,685.20 17,410.00 43,095.20 ______Nowra 27,125.67 13,731.77 40,857.44 ______Richmond 36,689.83 11,727.27 48,417.10 ______Social Club 9,384.54 -2,704.00 6,680.54 ______Tamworth 7,474.86 7,474.86 ______Taree 5,563.63 -13,181.82 -7,618.19 ______Tweed Heads ______Wagga Wagga 12,883.96 44,455.00 57,338.96 ______Wauchope 7,037.56 7,037.56 ______Young 13,156.86 13,156.86 ______GRNSW / Industry Wide 1,949,775.84 1,949,775.84 ______MVIA Prior Period Adjustments -8,198.25 -8,198.25 ______GIDF Prior Period Adjustments -5,336.09 -5,336.09 ______TOTALS 476,260.10 3,017,184.90 3,493,445.00 Notes: * A negative figure indicates where funding approved in a prior year was not fully expended when the project was closed

30 Club StatisticS Summary

Average Average Average paying customers nominations starters per per meeting per meeting meeting per annum per annum per annum ______Club Actual Actual Actual ______Wentworth Park (GBOTA) Saturday 564 83 77 ______Wentworth Park (GBOTA) Friday 357 81 76 ______Bulli (GBOTA) 111 88 76 ______Dapto 340 * 106 76 ______Gosford (GBOTA) 156 122 76 ______Lismore (GBOTA) 140 112 78 ______Richmond 141 117 77 ______The Gardens (NCA) 150 112 77 ______Bathurst (GBOTA) 98 99 77 ______Casino 130 139 94 ______Dubbo 96 97 80 ______Grafton 108 110 88 ______Maitland (GBOTA) 108 92 77 ______Shoalhaven 88 105 77 ______Wagga Wagga 112 95 78 ______Appin (GBOTA) 93 83 79 ______Armidale 73 84 75 ______Broken Hill 74 70 69 ______Coonabarabran 90 95 84 ______Coonamble 110 87 84 ______Cowra 81 89 77 ______Forbes 76 70 70 ______Goulburn 94 98 89 ______Gunnedah (GBOTA) 95 121 90 ______Kempsey 92 106 91 ______Lithgow 109 108 89 ______Moree 50 71 70 ______Mudgee 79 82 73 ______Muswellbrook 89 94 76 ______Social Club 124 103 78 ______Tamworth 93 99 81 ______Taree 89 113 92 ______Temora (GBOTA) 82 89 88 ______Tweed Heads 145 86 76 ______Wauchope 95 108 79 ______Young 65 76 72 Notes: * Dapto does not charge admission

31 Th Statistice BoardS

Greyhounds Wagering and Racing ______

______Year Litters Registered Greyhounds Named NSW Greyhound Market Share by Wagering Provider 2002-03______1320 5383 ______2003-04 1310 6218 Market Share ______2004-05 1540 5364 ______Totalisators 80.89% ______2005-06 1625 6434 Corporate Bookmakers 15.73% ______2006-07 1336 6039 ______2007-08 1313 6054 Betting Exchanges 3.38% ______2008-09 1305 5505 Total 100% ______2009-10 1306 6595 ______2010-11 1276 5491 ______2011-12 1069 6141

Participants ______

______Year Trainers Owner/Trainers Attendants ______2002-03 1770 5243 1116 2003-04______1498 4282 748 ______2004-05 1687 4698 936 ______2005-06 1497 4215 700 ______2006-07 1690 4534 802 ______2007-08 1607 2653 1400 ______2008-09 1753 2704 1502 ______2009-10 1553 2329 1233 ______2010-11 1595 2330 1342 ______2011-12 1589 2082 1170

Owner/Trainers and Attendants categories reclassified from 1 July 2007

32 five year comparison

______2008 2009 2010 2011 2012 R______acing Activity Number______of Race Meetings Conducted Metropolitan______105 106 104 105 106 TAB______529 523 572 726 731 Non-TAB______738 753 698 550 496 Number______of Races Conducted Metropolitan______1,050 1,068 1,040 1,050 1,053 TAB______5,396 5,287 5,339 7,369 7,525 Non-TAB______7,870 7,890 7,852 5,790 5,338 Number______of Starters Metropolitan______8,112 8,122 7,966 8,096 8,119 TAB______41,657 40,760 41,007 56,416 57,679 Non-TAB______58,107 57,320 57,304 42,764 40,357 Partici______pant Returns Total______Prize Money paid Metropolitan______5,594,554 6,246,067 6,785,935 6,923,275 7,222,138 TAB______6,598,967 7,952,697 9,989,882 12,326,482 12,423,075 Non-TAB______3,063,458 3,234,822 4,163,472 2,960,721 2,823,203 Total______Prize Money paid as a percentage of distribution received Metropolitan______76% 77% 102% 102% 102% TAB______80% 103% 107% 109% 109% Non-TAB______95% 114% 110% 115% 117% C______onsumer Activity Paying______attendees at NSW greyhound meetings Metropolitan______43,019 45,618 51,378 47,251 48,600 TAB______63,495 64,334 62,062 82,037 83,297 Non-TAB______78,985 70,982 70,305 49,295 46,329 Average______paying attendees per meeting Metropolitan______410 430 494 450 458 TAB______120 123 109 113 114 Non-TAB______107 94 101 90 93 On-course______totalizator turnover on NSW greyhound meetings Metropolitan______7,204,572 7,761,102 7,598,177 5,116,772 6,785,497 TAB______17,631,686 14,520,691 14,207,473 14,763,312 15,486,267 Non-TAB______5,732,351 4,169,744 2,588,494 1,583,280 1,597,957 Total TAB turnover on NSW greyhound______meetings 268,091,511 270,078,774 280,523,000 313,311,744 317,782,520 Wagering Market share of NSW greyhound______product with TAB Ltd 22.1% 17.1% 17.2% 19.7% 19.6% Government Revenue Government revenue from TAB turnover on NSW______greyhound meetings 17,766,424 17,898,120 18,556,998 20,726,020 21,021,768

33 FINANCIAL STATEMENTS

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2012 ______GREYHOUND RACING NEW SOUTH WALES

ABN 61 018 166 136

______

CONTENTS

Statement of Comprehensive Income 35

Statement of Financial Position 36

Statement of Changes in Equity 37

Statement of Cash Flow 37

Notes to the Financial Statements 38

Declaration by Members of the Board 47

Auditor’s Independence Declaration 48

Independent Audit Report 49

______

34 GROUP STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2012 ______

______2012 ______Note $ Income______Product______fees 30,704,497 Racefield______information use fees 8,905,038 Deferred______revenue realised 12 6,913,157 Industry______& strategy 434,467 Public______relations & digital 599,923 Growth______& sustainability 181,139 Racing______& integrity 43,100 Blue______Paws 106,953 Interest______1 (h) 556,102 Miscellaneous______65,857 ______Total______Income 48,510,233 ______Expenditure______Prizemoney______21,222,888 Club______administration & funding 8,269,774 Corporate______& finance 2,090,023 Racing______& integrity 3,231,513 Public______relations & digital 951,750 Industry______& strategy 903,355 Industry______infrastructure 3,172,681 Growth______& sustainability 600,074 Blue______Paws bonus payments 325,753 Country______Challenge 132,750 NCA______loan forgiven (Gardens purchase) 1 (n) 2,100,000 Loss______on sale of fixed assets 187,347 Impairment______expense 1 (n) 149,503 Depreciation______55,576 Bank______charges 21,694 Other______34,747 ______Total______Expenditure 43,449,428 ______Surplus______for the Year 5,060,805

The accompanying notes form part of these financial statements.

35 FINANCIAL STATEMENTS

GROUP STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2012 ______

______2012 ______Note $ Current______Assets Cash______and cash equivalents 3 4,400,966 Trade______receivables 4 10,114,166 Other______current assets 6 4,175 ______Total______Current Assets 14,519,307 ______Non-Current______Assets Property,______plant & equipment 7 1,726,387 Loan______receivables 5 6,875,355 ______Total______Non-Current Assets 8,601,742 ______Total______Assets 23,121,049 ______Current______Liabilities Payables______8 6,787,135 Provisions______9 1,479,872 ______Total______Current Liabilities 8,267,007 ______Total______Liabilities 8,267,007 ______Net______Assets 14,854,042 ______Equity______Reserves______676,386 Retained______surplus 14,177,656 ______Total______Equity 14,854,042

The accompanying notes form part of these financial statements.

36 GROUP STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2012 ______

______2012 ______$ ______Retained______surplus as at 1 July 9,116,851 Surplus______for the year 5,060,805 ______Retained______surplus as at 30 June 14,177,656 ______Reserves______as at 1 July 65,523 Transfer______to/(from) reserves 610,863 ______Reserves______as at 30 June 676,386 ______14,854,042

GROUP STATEMENT OF CASH FLOW FOR THE YEAR ENDED 30 JUNE 2012 ______

______2012 ______Note $ Cash______Flows from Operating Activities Receipts______from operations 52,749,544 Payments______to suppliers and employees (59,012,833) Interest______received 556,102 ______Net______cash (used in)/provided by operating activities 11 (5,707,187) ______Cash______Flows from Investing Activities Net______payments for property, plant and equipment (1,358,899) ______Net______cash (used in)/provided by operating activities (1,358,899) ______Net______(decrease)/increase in cash and cash equivalents held 12 (7,066,086) ______Cash______and cash equivalents at 1 July 11,467,052 ______Cash______and cash equivalents at 30 June 3 4,400,966

The accompanying notes form part of these financial statements.

37 NOTES TO THE FINANCIAL STATEMENTS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2012 ______

1. STATEMENT OF ACCOUNTING POLICIES Greyhound Racing New South Wales (GRNSW) is a reporting entity.

GRNSW is an independent body corporate established under the Greyhound Racing Act 2009 to represent, fund and control the commercial operations of the greyhound racing industry in New South Wales. It commenced operations on 10 February 2003.

The financial report is a general purpose financial report that has been prepared in accordance with Accounting Standards, including Accounting Interpretations and other pronouncements of the Australian Accounting Standards Board.

The financial report includes figures for the Group, with summary Income Statements for each activity.

The following is a summary of the material accounting policies adopted by the entity in the preparation of the financial report. The accounting policies have been consistently applied unless otherwise stated.

No comparatives have been disclosed, as 2012 is the first year reporting under a new consolidated financial structure for GRNSW.

Basis of Preparation The financial report has been prepared on an accruals basis and is based on historical costs.

(a) Property, Plant and Equipment Each class of property, plant and equipment is carried at cost, less where applicable, any accumulated depreciation and impairment losses, where applicable.

Plant and Equipment Plant and equipment are carried at cost less accumulated depreciation and impairment losses.

The carrying amount of plant and equipment is reviewed annually by the Board to ensure it is not in excess of the recoverable amount from those assets. The recoverable amount is assessed on the basis of the accepted net cash flows which will be received from the assets employment and subsequent disposal. The expected net cash flows have not been discounted to present values in determining recoverable amounts.

Depreciation Property, plant and equipment including capitalised lease assets are depreciated on a straight line basis over their useful lives to GRNSW, commencing from the time the asset is held ready for use. Fixed asset purchases of items below $5,000 are written off to expense in the year of acquisition.

The depreciation rates used for each class of depreciation assets are:

______Class of Fixed Asset Depreciation Rate % ______Office equipment 40 ______Computer equipment 40 ______Furniture fittings 15 ______Motor vehicles 22.5 ______Leasehold improvements 12.5

The asset’s residual values and useful lives are reviewed and adjusted if appropriate at each balance date.

An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount.

38 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2012 ______

1. STATEMENT OF ACCOUNTING POLICIES (cont’d) (a) Property, Plant and Equipment (cont’d) Gains and losses on disposal are determined by comparing proceeds with the carrying amount. These gains or losses are included in the statement of comprehensive income. When revalued assets are sold, amounts included in the revaluation reserve relating to that asset are transferred to retained earnings.

(b) Leases Lease payments for operating leases, where substantially all the risks and benefits remain with the lessor, are charged as an expense in the periods in which they are incurred.

Lease incentives for operating leases are recognised as a liability and amortised on a straight line basis over the life of the lease terms.

(c) Insurance Insurance policies are held to cover all material risks. The insurance coverage is reviewed annually to ensure adequate cover for all risk areas.

(d) Financial Instruments

Recognition Financial instruments are initially measured at cost on trade date, which includes transaction costs, when the related contractual rights or obligations exist. Subsequent to initial recognition, these instruments are measured as set out below.

Loans and Receivables Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market and are stated at amortised cost using the effective interest rate method.

Financial Liabilities Non-derivatives financial liabilities are recognised at amortised cost, comprising original debt less principal payment and amortisation.

Impairment At each reporting date, the entity assesses where there is objective evidence that a financial instrument has been impaired. Losses are recognised in the statement of comprehensive income.

(e) Employee Benefits Provision is made for GRNSW liability for employee benefits arising from services rendered by employees to balance date. Employee benefits that are expected to be settled within one year have been measured at the amounts expected to be paid when the liability has been settled plus related on costs. Employee benefits payable later than one year have been measured at the present value of the estimated future cash outflows to be made for those benefits.

(f) Superannuation Commitments Superannuation contributions made on behalf of employees are charged as expenses when incurred.

(g) Cash and Cash Equivalents Cash and cash equivalents include cash on hand and deposits held at call with banks.

(h) Revenue Revenue is brought to account on an accruals basis.

Interest revenue is recognised on a proportional basis taking into account the interest rates applicable to the financial assets. Cash is invested in a NSW Treasury Corporation Cash Facility which returned on average 4.75% per annum during the financial year.

All revenue is recognised net of the amount of goods and services tax (GST).

39 NOTES TO THE FINANCIAL STATEMENTS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2012 ______

1. STATEMENT OF ACCOUNTING POLICIES (cont’d) (i) Receivables, Payables and Accruals Accounts receivable generally settled within 30 days are carried at amounts due.

Accounts payable including accruals not yet billed, are recognised when GRNSW becomes obliged to make future payments as a result of a purchase of assets or services. Accounts payable are generally settled within 30 days.

(j) Goods and Services Tax (GST) Revenue, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Taxation Office. In these circumstances, the GST is recognised as part of the cost of acquisition of the asset or part of an item of expense. Receivables and payables in the statement of financial position are shown inclusive of GST.

(k) Distribution Account and Greyhound Industry Development Fund By order of the Minister of Gaming and Racing, the balance of unexpected funds in the following accounts were transferred to GRNSW on 9 February 2003. · Greyhound Racing Authority (NSW) Distribution Account · Greyhound Racing Authority (NSW) Greyhound Industry Development Fund

Both the above funds have been administered by GRNSW since 10 February 2003.

The Distribution Account receives TAB distributions to the greyhound code through NSW Racing Pty Ltd. Funds are used as follows:

· To pay monies to the Greyhound Industry Development Fund · To distribute funds to Greyhound Racing Clubs in New South Wales The Greyhound Industry Development Fund (GIDF) makes payments to greyhound clubs predominantly for construction, maintenance work and other capital items.

As at 30 June 2012 both of the above funds were closed as the accounts within GRNSW were consolidated.

(l) Greyhound Industry Advancement Fund and Blue Paws Since the establishment of the Distribution Account and Greyhound Industry Development Fund by the Minister for Gaming and Racing on 9 February 2003, the following funds have been established from Board decisions of Greyhound Racing New South Wales: · Greyhound Industry Advancement Fund · Blue Paws Breeders & Owners Incentive Scheme The costs of administering the Distribution Account, the Greyhound Industry Development Fund, the Greyhound Industry Advancement Fund and Blue Paw Breeders & Owners Incentive Scheme are largely borne by GRNSW.

As at 30 June 2012 both of the above funds were closed as the accounts within GRNSW were consolidated.

(m) New Standards and Interpretations not yet adopted There are no material effects or disclosures arising from new accounting standards and interpretations.

(n) The Gardens Acquisition Transaction

GRNSW acquired a 70% share of the property known as The Gardens from the NSW National Coursing Association (NCA) on 1 March 2012. The transaction involved a $2,100,000 interest free repayable loan to the NCA being forgiven and an additional payment of $1,200,000. GRNSW’s 70% share of the property was valued at $1,050,000 resulting in an Impairment expense of $149,503.

40 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2012 ______

______2012 ______$ ______2. Auditors Remuneration ______Results for the year has been determined after: ______Remuneration of Auditor – KS Black & Co 26,750 ______The above charges incorporate services and audit of the Distribution Account, the Greyhound ______Industry Development Fund, the Greyhound Industry Advancement Fund, and the Blue Paws Breeders ______& Owners Incentive Scheme. ______3. Cash and Cash Equivalents ______Cash at bank 4,399,816 ______Cash on hand 1,150 ______4,400,966 ______4. Trade Receivables ______Product fees 8,597,861 ______Racefield information use fees 1,357,629 ______Other 158,676 ______10,114,166 ______5. Loan Receivables ______Bank Guarantee 377,674 ______Wentworth Park Trust 6,497,881 ______6,875,355 ______6. Other Current Assets ______Prepayments 4,175 ______7. Property, Plant & Equipment ______Land – The Gardens – 70% 1,050,000 ______Office Equipment & Computers ______At cost 576,220 ______Accumulated depreciation (488,323) ______87,897 ______Furniture & Fittings ______At cost 55,476 ______Accumulated depreciation (26,654) ______28,822 ______Motor Vehicles ______At cost 456,269 ______Accumulated depreciation (103,488) ______352,781

41 NOTES TO THE FINANCIAL STATEMENTS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2012 ______

______2012 ______$ ______7. Property, Plant & Equipment (cont’d) ______Website Development & Software ______At cost 579,155 ______Accumulated depreciation (372,268) ______206,887 ______Total Property, Plant and Equipment 1,726,387 ______8. Payables ______Current ______Payments to clubs 3,116,564 ______Tabcorp 2,251,796 ______Australian Taxation Office 511,569 ______Sundry creditors and accruals 907,206 ______6,787,135 ______9. Provisions ______Current ______Provision for annual leave 312,103 ______Provision for long service leave 174,517 ______Provision for approved industry infrastructure funding 962,532 ______Other 30,720 ______1,479,872 ______10. Capital & Leasing Commitments ______Operating Lease Commitments ______Rental of Office Premises ______Non cancellable operating lease commitments contracted for but not capitalised in the financial ______statements: ______Property Lease Payable: ______No later than one year 245,700 ______Later than one year but not later than five years 982,800 ______Later than five years 491,400 ______1,719,900 ______11. Reconciliation of Net Cash (Used in)/Provided by Operating Activities to Surplus ______Surplus 5,060,805 ______Depreciation 55,576 ______Changes in assets and liabilities: ______(Increase)/decrease in receivables 1,902,923 ______(Increase)/decrease in other assets 33,490 ______Increase/(decrease) in payables (13,516,372) ______Increase/(decrease) in provisions 756,391 ______Net Cash (Used in)/Provided by Operating Activities (5,707,187)

42 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2012 ______

12.______Deferred Revenue At______the commencement of the financial year GRNSW held $15,815,333 in Deferred Revenue representing Racefield Information______Use Fees received from Tabcorp Holdings and TAB Ltd which remained in dispute. The dispute was settled______during the 2011-12 financial year and saw GRNSW realise $6,913,157 as income, whilst $8,902,176 was repaid______to TAB Ltd. The large repayment resulted in a significant decrease in net cash held by GRNSW. ______2012 2011 ______$ $ 13.______Activity Income Statements a.______GRNSW – Individual Activity Income______Statement for the Year Ended 30 June 2012 ______Revenue______Distribution______account – administration charge 5,977,986 5,237,369 Licensing______and fees 454,667 804,362 Brand______and public relations 569,923 561,791 Growth______and sustainability 160,148 - Interest______7,148 3,681 Other______56,244 79,130 ______Total______Revenue 7,226,166 6,686,333 ______Expenditure______Corporate______2,074,243 2,157,362 Racing______and integrity 3,262,601 2,892,486 Brand______and public relations 917,943 1,013,530 Club______and member services 524,832 537,849 Growth______and sustainability 390,967 137,308 Board______expenses 155,920 137,198 Other______expenses 13,594 - Loss______on sale of fixed assets 23,440 - ______Total______Expenditure 7,363,540 6,875,742 ______(Deficit)/Surplus______(137,374) (189,409)

43 NOTES TO THE FINANCIAL STATEMENTS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2012 ______

______2012 2011 ______$ $ ______13. Activity Income Statements (cont’d) ______b. Scheme of Distribution ______Income Statement for the Year Ended 30 June 2012 ______Revenue ______Product fees 24,645,420 24,258,993 ______Wagering incentive fees 6,059,077 5,735,379 ______Racefield information use fees 8,905,038 5,285,537 ______Deferred revenue realised 6,913,157 - ______Interest 473,959 528,667 ______Other 9,214 - ______Total Revenue 47,005,865 35,808,576 ______Expenditure ______Distribution to GRNSW 5,977,986 5,237,369 ______Distribution to GIDF 3,950,000 2,750,000 ______Distribution to GIAF 750,000 700,000 ______Racefield/wagering exepenses 98,740 641,262 ______Distribution to clubs 27,124,349 26,389,285 ______Club incentive scheme 1,827,059 2,135,191 ______Integrity auditor and appeals tribunal 52,158 - ______Sundry expenses 34,579 73,099 ______Total Expenditure 39,814,871 37,926,206 ______Surplus/(Deficit) 7,190,994 (2,117,630)

44 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2012 ______

______2012 2011 ______$ $ 13.______Activity Income Statements (cont’d) c.______Greyhound Industry Development Fund Income______Statement for the Year Ended 30 June 2012 ______Revenue______Transfer______from GRNSW distribution account 3,950,000 2,750,000 Interest______received 71,204 89,671 ______Total______Revenue 4,021,204 2,839,671 ______Expenditure______Capital______works allocations 3,493,445 3,401,868 NCA______loan forgiven (Gardens purchase) 2,100,000 - Loss______on sale of fixed asset 163,907 - Impairment______expense 149,503 - Loss______on transfer to GRNSW - 343,329 Loss______on disposal of plant and equipment - 12,745 Depreciation______55,576 45,640 Other______134 74 ______Total______Expenditure 5,962,565 3,803,656 ______(Deficit)/Surplus______(1,941,361) (963,985)

45 NOTES TO THE FINANCIAL STATEMENTS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2012 ______

______2012 2011 ______$ $ 13.______Activity Income Statements (cont’d) d.______Greyhound Industry Advancement Fund Income______Statement for the Year Ended 30 June 2012 ______Revenue______Transfer______from GRNSW distribution account 750,000 700,000 GAP______& Greenhounds 20,991 16,423 Insurance______penalties 22,900 15,000 Sponsorship______30,000 30,000 Interest______received 2,657 1,813 Other______399 - ______Total______Revenue 826,947 763,236 ______Expenditure______Payments______to Clubs 311,374 291,935 GAP______& Greenhounds 209,123 216,423 Blue______Paws 180,000 200,000 Greyhound______of the Year 97,074 98,312 Insurance______claims 10,000 17,900 Other______32,942 63,373 Interest______40 - ______Total______Expenditure 840,553 887,943 ______(Deficit)/Surplus______(13,606) (124,707) ______e.______Blue Paws Breeders & Owners Incentive Scheme Income______Statement for the Year Ended 30 June 2012 ______Revenue______Pup______contributions 106,953 105,658 GIAF______contribution 180,000 200,000 Interest______received 1,084 706 ______Total______Revenue 288,037 306,364 ______Expenditure______Bonus______prize money 325,753 290,828 Bank______charges 134 179 ______Total______Expenditure 325,887 291,007 ______(Deficit)/Surplus______(37,850) 15,357

46 DECLARATION BY MEMBERS OF THE BOARD ______

The Board of Greyhound Racing New South Wales declares that:

• The financial statements and notes set out on pages 35 to 46 present fairly the financial position of Greyhound Racing New South Wales as at 30 June 2012 and its performance for the year ended on that date in accordance with Accounting Standards (including Australian Accounting Interpretations).

• In the Board’s opinion, there are reasonable grounds to believe that the entity will be able to pay its debts as and when they become due and payable.

This declaration is made in accordance with a resolution of the Board of Greyhound Racing New South Wales.

Dated: 27 September 2012

David Clarkson Greyhound Racing New South Wales – Deputy Chairman

George Bawtree Greyhound Racing New South Wales – Board Member

47 NOTES TO THE FINANCIAL STATEMENTS

AUDITOR’S INDEPENDENCE DECLARATION TO THE DIRECTORS OF GREYHOUND RACING NEW SOUTH WALES ______

We hereby declare that to the best of our knowledge and belief, during the financial year ended 30 June 2012 there have been no:

(i) contraventions of auditor independence requirements in relation to the audit and

(ii) contraventions of any applicable code of professional conduct in relation to the audit.

KS Black & Co Chartered Accountants

Faizal Ajmat Partner

Level 1, 460 Church Street North Parramatta NSW 2151

Dated: 27 September 2012

48 INDEPENDENT AUDIT REPORT FOR GREYHOUND RACING NEW SOUTH WALES ______

Report on the Financial Report

We have audited the accompanying financial report of Greyhound Racing New South Wales, which comprises of the statement of financial position as at 30 June 2012, and the statement of comprehensive income, statement of changes in equity and statement of cash flow for the year ended on that date, a summary of significant account policies and other explanatory notes and the declaration by members of the Board as set out on pages 35 to 47.

Responsibility for the Financial Statements

The Board of Greyhound Racing New South Wales are responsible for the preparation and fair presentation of the financial report in accordance with Australian Accounting Standards (including Australian Accounting Interpretations) and the financial reporting requirements of the entity’s constitution. This responsibility includes establishing and maintaining internal control relevant to the preparation and fair presentation of the financial report that is free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.

Auditor’s Responsibility

Our responsibility is to express an opinion on the financial report based on our audit. We conducted our audit in accordance with Australian Auditing Standards. The Auditing Standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whether the financial report is free from material misstatement.

An audit involved performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditor’s judgement, including the assessment of risks of material misstatement of the financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial report in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. And audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board, as well as evaluating the overall presentation of the financial report.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Independence

In conducting our audit, we have complied with the independence declaration requirements of the Australian professional ethical pronouncements.

49 NOTES TO THE FINANCIAL STATEMENTS

INDEPENDENT AUDIT REPORT FOR GREYHOUND RACING NEW SOUTH WALES (continued) ______

Auditors Opinion In our opinion the financial report of Greyhound Racing New South Wales is in accordance with the entity’s constitution and

(i) gives a true and fair view of the entity’s financial position as at 30 June 2012 and of its performance of the year ended in that date; and

(ii) complies with Australian Accounting Standards (including Australian Accounting Interpretations) and the entity’s constitution.

KS Black & Co Chartered Accountants

Faizal Ajmat Partner

Level 1, 460 Church Street North Parramatta NSW 2151

Dated: 27 September 2012

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53 Greyhound Racing NSW

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Head Office Building B, 1 Homebush Bay Drive Rhodes NSW 2138 Tel: +61 2 8767 0500 Fax: +61 2 9764 6244 • Postal Address: PO Box 170 Concord West NSW 2138 • Email: [email protected] Web: www.thedogs.com.au • Auditors KS Black & Co Level 1 460 Church Street North Parramatta NSW 2151 • Solicitors Clayton Utz Level 15 1 Bligh Street Sydney NSW 2000 • Bankers Commonwealth Bank of Australia 1-3 Auburn Road Auburn NSW 2144

IBC Web. www.thedogs.com.au Fax. 61.2.97646244 Tel. 61.2.87670500 Rhodes NSW2138Australia Building B,1HomebushBay Drive, ABN 61018166136

GREYHOUND RACING NSW ANNUAL REPORT 2011 - 2012