Daily News Archive

Search nearly 75,000 unique Daily News articles.

Daily News Subscription

Memsie Stakes Day Turnover Drops

Monday, 9th September 2019

Following a considerable 20 percent surge in turnover last year – relative to 2017 – on Memsie Stakes Day, the equivalent 2019 meeting dropped by 2.4 percent. According to racing.com, the latest figure of close to $60 million, was not unexpected by Melbourne Racing Club’s CEO Josh Blanksby who revealed that turnover in recent months has been showing signs of decline. "I think what we are seeing is the impact of the Point Of Consumption tax and race fields, and bookmakers having to change their behavior to maintain their margin. Blanksby proffered, "The days of these high double-digit turnover growth is over as we have hit a point in the industry now where the bookmakers have to change the way they play the customers and how they treat generosity.” Despite a reduction in starters on the day, which in itself can impact turnover, Caulfield’s on-track attendance rose to over 8,000 patrons, helped by the AFL bye weekend leading into the Finals play-offs.

« Previous
Return to
9th September 2019 News
Next »