New laws enabling the ACT racing industry to directly set and collect product fees from wagering operators that bet on their racing meets passed unanimously in the Legislative Assembly today.
The product fee is a charge that is paid to the ACT racing clubs for use of their race field information by licensed wagering operators. Until now the fee has been set by the racing clubs but collected on their behalf by the ACT Gambling and Racing Commission.
ACT Minister for Gaming and Racing Joy Burch said the ACT’s three racing clubs had asked the Government to introduce the changes.
“I am confident these changes will help to support the racing industry by giving the controlling bodies the flexibility to maintain a race field information charge scheme that is flexible and relevant to the local conditions.” Ms Burch said.
“Amendments to the Territory’s model are necessary in response to emerging developments in the charging models across Australia, including a High Court decision in relation to the NSW model last year.”
The changes will commence from 1 March 2013 and will be consistent with the general approach taken in Victoria and New South Wales. Under transitional arrangements the ACT Gambling and Racing Commission will act as an agent for the controlling bodies until June 2013.