4 July 2022
The Territory Labor Government has today announced a new funding agreement with Thoroughbred Racing NT (TRNT) to support the racing industry across the NT for the next ten years.
As part of the new agreement, TRNT will be required to direct $6 million to upgrade infrastructure at regional race tracks in Alice Springs, Tennant Creek, Katherine and Adelaide River.
A previous five-year agreement with Thoroughbred Racing NT, which is the peak racing body representing the Northern Territory's horse racing clubs, expired on 30 June.
In addition to standardising the agreement in line with other NT Government grants, the new proposal includes:
increasing the terms of the funding agreement from five to ten years; andan annual base amount of $17.88 million.
The $6 million investment over ten years to upgrade infrastructure at regional race tracks will be distributed as follows:
Alice Springs Turf Club - $150,000 per annum for the first four years and $400,000 per annum for the remaining six years;Tennant Creek Racing Club - $50,000 per annum for the first four years and $133,000 per annum for the remaining six years;Katherine Turf Club - $50,000 per annum for the first four years and $133,000 per annum for the remaining six years; andAdelaide River SSRC - $50,000 per annum for the first four years and $133,000 per annum for the remaining six years.
In light of this agreement, previous directions to repay a $12 million grant awarded to the Darwin Turf Club for the construction of a grandstand in 2019 will no longer apply.
Quotes attributable to Minister for Racing, Gaming and Licensing Chansey Paech:
"The Territory Labor Government values the racing industry's important social, sporting and economic contribution and that's why we have renewed the funding agreement that expired last month.
"While the overall baseline funding amount remains the same, this new agreement will specifically direct Thoroughbred Racing NT to reduce its payments to the Darwin Turf Club by $6 million over ten years, and reinvest that amount into infrastructure upgrades at regional turf clubs.
"Racing is a major drawcard in our regional areas and improved infrastructure at these tracks will make a huge difference to these clubs and communities."
