The Australian state of Queensland has begun a consultation to develop a plan for a sustainable future for the racing industry, after figures released last week revealed mounting and unsustainable financial losses at Racing Queensland.

Queensland’s Minister for Agriculture and Fisheries and Minister for Sport and Racing, Bill Byrne, and Racing Queensland’s acting CEO Ian Hall released details of the scale of the task facing the industry and declared there would be broad consultation on Racing Queensland’s plan to secure a sustainable future.

In figures released last week, Racing Queensland posted a AUD$12m loss in 2014/15 and was forecasting a deficit of $28m in 2015/16.

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