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Harness Racing Victoria 2016/17 Annual Report Tabled in Parliament

The 2016/17 Annual Report for Harness Racing Victoria (HRV) was tabled in State Parliament today, documenting a consolidated group net loss of $1.695m, largely attributed to a $1.6m reduction in revenue from HRV’s share of distributions from the Tabcorp Joint Venture.

Harness Racing Victoria 2016/17 Annual Report Tabled in Parliament

The 2016/17 Annual Report for Harness Racing Victoria (HRV) was tabled in State Parliament today, documenting a consolidated group net loss of $1.695m, largely attributed to a $1.6m reduction in revenue from HRV’s share of distributions from the Tabcorp Joint Venture.

HRV Chairman Dale Monteith issued the following statement:

“After a period of decline, the industry has undergone significant change, including the appointment of David Martin as CEO in January this year.


“Since that time, a range of initiatives have been implemented to reduce costs, increase participation, improve revenue and to ultimately grow market share.

“The benefits became evident late in the financial year and have continued into the current financial year. While this loss is obviously disappointing, we know HRV is now moving in the right direction.

“The HRV Board is particularly grateful for the continued support from the Minister for Racing, Martin Pakula, as evident with the announcement in September of a $3.1 million investment in the HRV integrity department and the ongoing support for HRV infrastructure.

“Throughout the last 12 months HRV has sought to work closely with owners, breeders, participants, clubs and kindred bodies, as the confidence of all participants and wagering customers is of paramount importance for the future growth of our industry.”
Harness Racing Victoria




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