The final report of the Victorian Wagering Review has recommended that Australia’s Racing Victoria implement a blended model for its race fields product fee, increasing the fee from 10 per cent to 13 per cent of gross revenue, with the introduction of a minimum fee based on turnover for periods when gross revenue falls below a specified level.

Responding to concerns expressed by some sectors of the Victorian racing industry, last December the board of Racing Victoria determined that an independent review be undertaken to make recommendations regarding the best long-term model for race fields product fees in the Australian state of Victoria, and ensure that any decisions made deliver the best long-term funding and customer outcomes for the industry.

As a result, former Publishing and Broadcasting Limited (PBL) CEO Peter Yates was engaged by Racing Victoria to chair the review, and PwC was engaged to prepare an analysis of the preferred approach to setting the race field product fees.

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