New Zealand Racing Board announces record distribution, betting turnover

The New Zealand Racing Board had record turnover of $1.9 billion in the 2012/2013 year, despite increased competition and abandoned races due to extreme weather, the Minister for Racing Nathan Guy said at the board’s annual general meeting. A record total of $142.5 million was distributed to the racing industry in the year, up by $6.5 million from the previous year. He said the board is targeting a surplus of $160 to $180 million to be available for distribution to the industry by 2018.