Revitalising of the Racing Industry in New Zealand

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The Racing Industry Transition Agency (RITA) is the new reconstitution of the New Zealand Racing Board established on 1 July 2019 to lead the transition of the racing industry to its future best level. The New Zealand’s Minister for Racing, Winston Peters has outlined the need to revive the racing industry which has enough potential to contribute to both the sporting and tourism sectors. 

This will definitely result in a positive contribution to the country’s general economy. The governing body has new governing structures in place that will oversee and implement the strategic plan which has been established to specifically develop and grow this sport. 

The authority which works closely with the Ministry has a role of ensuring that they work in an open and transparent manner, sticking to the set down rules of NZ Gambling Advertising Code and principles governing horse racing and investing heavily in the good customer relationship which is key for the growth of any business. The growth of the racing industry has great advantages to the economy especially in the rural areas where it has become a favorite activity to many of the youths.

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New NZ Authority

The presence of a new governing structure in the racing industry is a great boost to the growth of the sport considering it as one of the oldest sports. RITA will have the full capacity to manage and oversee horse racing activities in the country. The body which was established in 2019 through the racing reform Act will revive the TAB betting system which is cherished by many. 

The country has established through the body that it has 180,000 TAB account holders and a retail network of about 550 outlets nationally. The body equally has a huge task force of about 690 employees full-time, parttime and casual. This is enough to ensure daily racing customers in New Zealand are served, sports bets are sold through the retail network, telephone and even on television. 

To the lucky fans, the authority is able to support more than 78,000 harness and greyhound races each season as well as numerous domestic and international sporting events and tournaments.

Is it the First Stage to Gambling Legislation?

This could probably be among the first stages of proper legislation of the Internet gambling websites in New Zealand related to horse racing. The racing activity which had been there for some good time had previously collapsed as a result of poor management by the previous governing body which was The New Zealand Racing Board. 

Revitalizing the sport with a new body will automatically bring onboard new legislation which is meant to make sure all parties are well protected, fair gaming practices are practiced and grow a good customer relation. 

Among the key strategies include working in a clear and transparent manner with the Ministry and the Department together with RITA who file regular financial reports with the Ministry at least a month. More legislation is set to benefit many in the entire sector including society and the government itself.

Expectations About the Racing Industry Growth

Through government support, the racing industry is set to grow to the next level providing one of the best sporting experiences. The authority together with the ministry the racing sport has ensured a contribution of about NZ$3.5m which is a good amount to the economy.

As these new legislations are being implemented the industry shall be in a good position for growth. Ensuring betting is done in a fair manner is one development that will attract many punters. Apart from this, the financial regulatory policy in place is sound enough to make the board achieve its desired goals.

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So is it Good for Kiwis?

Revitalizing the racing industry in New Zealand is set to introduce numerous advantages to the New Zealand economy. The rates of unemployment among the youth will reduce greatly and most people drawn from the society get employment hence stabilize the standard of living for many citizens.

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Comments

  1. How about some animal welfare transparency around numbers of animals killed and harmed to provide this degenerate vice? Ive seen the greyhound stats and they are appalling.

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