Racing Australia Annual Report 2020

RACING AUSTRALIA ANNUAL REPORT 2020 | 7 Photo: Courtesy of Racing Photos Zealand Thoroughbred Racing recently committed to joining the SNS, a real vindication of RA’s decision to exploit commercial opportunities beyond our member state and territory PRAs. Racing Australia posted a strong financial result despite the impacts of COVID-19 in the final three months of the financial year with a consolidated surplus of $5,259,568 exclusive of depreciation and amortisation resulting in a decrease in the consolidated surplus of $553,268 against the previous financial year. The welfare of our jockeys, trainers and stable staff, an uncompromising commitment to enforcing the highest standards of integrity and the primacy of equine welfare are objectives that form the basis of Racing Australia’s thinking. An aspiration for racing should be for the youth of Australia to regard thoroughbred racing as a career of choice, as is the quest for continual enhancement of our integrity services. The delivery of optimal equine welfare outcomes is also uppermost in our deliberations. The PRAs are to be commended on implementing initiatives that in aggregation deliver world class standards of equine welfare. The fact is, that the PRAs and RA will contribute in excess of $20 million per annum towards the implementation of a diverse range of equine welfare initiatives in 2020/2021. RA played a pivotal role in encouraging the Federal Government to introduce a national traceability register, an innovation which is likely to be rolled out in 2021. A suite of new Australian Rules of Racing to complement the traceability register will also take effect in the near future. We also realised a long held ambition by appointing a National Equine Welfare Manager to work with the PRAs and their equine welfare teams. CHAIRMAN’S REPORT The introduction of an owner identification validation component within the SNS is a critical development. This is a further example of Australian racing’s quest for transparency and probity at levels that instil confidence within our sport and the wider Australian community. An initiative that warrants recognition is RA’s decision to establish a working party to assess the guidelines that apply to the Australian Pattern. The uniqueness of Australian racing means that rules and guidelines identifying Australia’s greatest races are best adjudged by policy that accentuates why Australian racing prospers as distinct from guidelines that have their origins in Europe. A final report will be presented to the RA Directors in November 2020. Australian racing was extremely well represented at this year’s 38th Asian Racing Conference in Cape Town. Australian Racing’s contribution covered a broad range of issues and I am reassured by Australian racing’s capacity to influence thoroughbred racing globally. The international spotlight will turn to Melbourne in February 2022 when Australia hosts the 39th Asian Racing Conference. To my fellow Directors, it is without doubt that I could not cover all aspects of the position without your loyal support. I thank you for your advice and uncredited contribution. My appreciation is also extended to our member state and territory PRAs. In particular, I would like to commend and acknowledge Barry O’Farrell’s contribution during his time as RA’s CEO and extend congratulations on behalf of RA following his appointment as Australia’s High Commissioner to India. In conclusion, I would like to thank the RA executive management, specifically Myles Foreman in his capacity as acting CEO, and our unheralded staff for their tireless effort and commitment to ensuring Australian racing is beneficiary of world class management across all facets of our business including the Australian Stud Book, Equine Genetic Research Centre and Racing and Intellectual Property divisions. Greg Nichols Chairman