2005ANNUAL REPORT 2005 RACING VICTORIA LIMITED ANNUAL REPORT ANNUAL LIMITED VICTORIA 2005 RACING Racing Victoria Limited Racing Victoria Limited 400 Epsom Road Flemington Victoria 3031 Telephone: (03) 9258 4258 Fax: (03) 9258 4707 Web: www.racingvictoria.net.au Email:
[email protected] 2005 ANNUAL REPORT ACN: 096 917 930 400 Epsom Road Flemington Victoria 3031 Telephone: (03) 9258 4258 Fax: (03) 9258 4707 Web: www.racingvictoria.net.au Email:
[email protected] Annual Report published by Harding Media Services Pty Ltd, designed by Scarab Blue Design and printed by Fineline Printing. Photography: Sam D’Agostino, Kristian Dowling, Andy Tavares. Photo by HWT, Melbourne RACING VICTORIA LIMITED 2005ANNUAL REPORT Contents Chairman’s Report 2 Board of Directors 6 Executive Team 9 Chief Executive Officer’s Report 10 Organisation 14 Integrity 18 Operations 28 Development 38 Services 50 Celebration 58 Corporate Governance 68 Financial Performance 74 Financial Report 77 racing victoria limited 1 2005 ANNUAL REPORT Chairman’s Report It is with great pleasure that I present Racing Another major milestone in 2004/05 was the Victoria Limited’s annual report and financial successful launch of ThoroughVisioN’s (TVN) statements for 2004/05. racing broadcast service. The expansion to a full live coverage of all thoroughbred racing events Victorian thoroughbred racing enjoyed a year of from Sydney, Melbourne and country Victoria great achievements, made possible by a highly from 4 May, 2005 heralded a new era in the constructive and cooperative relationship development of racing coverage. between RVL and its member shareholders – Country Racing Victoria, Melbourne Racing It is unfortunate that an earlier proposal for a Club, Moonee Valley Racing Club and Victoria joint venture with Tabcorp for the cooperative Racing Club.