Harness Racing NSW releases 2023-2024 Annual Report

Harness Racing New South Wales (HRNSW) is pleased to announce the publication of its Annual Report for the 2023-2024 financial year, providing an overview of the industry’s achievements, strategic initiatives, and performance outcomes throughout the year.

This report outlines key developments, including record-breaking attendance figures, increased foal numbers, ongoing advancements in integrity measures and animal welfare standards. The report also highlights HRNSW’s commitment to fostering growth and innovation in the sport while delivering long-term benefits to stakeholders and the wider community in line with the Strategic Plan.

In this financial year, it is evident that HRNSW has faced significant challenges arising from the broader economic environment and despite this, HRNSW has demonstrated resilience and strategic foresight in maintaining core operations and ensuring the long-term sustainability of harness racing in NSW.

For the year ended 30 June 2024, HRNSW recorded a statutory deficit of $1.522 million, in contrast to the surplus of $0.453 million in FY2023. This result was largely driven by a softening in wagering revenue, which was impacted by rising inflation, elevated interest rates, and the reduction in discretionary household spending.

Despite these economic challenges, HRNSW achieved a record high in prizemoney distributions, paying out a total of $48.600 million to participants as well as committing $5.70 million in breeding assistance and the Breeders Challenge scheme and $9.970 million in subsidies and administrative funding to clubs.

In 2023-2024 HRNSW held its revamped Carnival of Cups concept with a strategy built around driving awareness and exposing new audiences to harness racing as well as re-engaging previous industry stakeholders. Signing numerous high-profile music acts as well as offering a $300,000 bonus to participants in the ‘Cup’ features, we saw more than 24,000 people attend races tracks at those five Carnival of Cups meetings.

Additionally, HRNSW also co-hosted the inaugural running of the world’s richest harness race, the TAB Eureka. This was also considerable success with around 10,000 patrons on course for the $2.1million feature at Club Menangle.

The 2023-2024 HRNSW Annual Report is now available on www.hrnsw.com.au and can also downloaded here.

HRNSW MEDIA CONTACT:

AMANDA RANDO | MEDIA MANAGER

arando@hrnsw.com.au •  @Amanda_Rando • (02) 9722 6600