ATA Queensland Branch – Members Update / Queensland / 07 Apr, 2009

MAGIC MILLIONS QTIS SALE KICKS GOALS

The recently concluded Magic Millions QTIS sale appeared to defy the odds in what is proving to be one of the toughest financial climates experienced by many in a long time. While many in the Queensland breeding and racing industry held their collective breaths before the sale, vendors and buyers seemed to be pleased with the overall results.

To this end, the Magic Millions Company deserves to be congratulated on their very effective marketing campaign, succeeding in promoting the sale interstate and bringing some fresh faces to the buying bench.

These fresh faces included syndicators such as Shelley Hancox from Victoria, whose purchases will be syndicated and race in Queensland, chasing the very lucrative bonuses that our QTIS scheme offers home bred horses. This can only be good for our racing ensuring that we can keep local buyers and owners racing their purchases in Queensland.

The general consensus from many buyers was that the QTIS scheme keeps delivering positive results for racing in the sunshine state, be it the metropolitan or country regions.

Overall the lower end of the market was quite strong and most potential buyers were able to fill their orders, which in the real boom times in recent years left many at the lower end of the market, going home with their purse strings zipped up.

There is little doubt from feedback at the sale, that the very attractive bonus double up option for 2yo’s in the city and 3yo’s in the country is a great incentive for many owners and trainers.

RACING AHEAD IN TOUGH TIMES

Now that the dust has settled from the lead up to the state election, the Queensland racing industry should be able to move forward without any uncertainty about its structure and some of the reforms which were the subject of conjecture during the campaign.

With the long awaited and much anticipated merger of the metropolitan clubs a reality, industry participants can look forward to the expected improvements to both infrastructure and facilities for racing in Brisbane.

The racing industry in Queensland, as in other States has been a reliable, steady and lucrative “cash cow” over many years. Revenues that State Governments, irrespective of their political persuasion, have been able to generate from taxation on the industry which have helped balance many State budgets and fund a raft of projects.

It should be recognised and acknowledged that the Queensland Government has supported many of the much needed reforms initiated by Queensland Racing, and there is every strong indication that this support will continue.

In these tough times, the racing industry needs all the support it can get. Returns to owners though the prize money initiatives introduced by Queensland Racing and the popular QTIS scheme are steps in the right direction.

These initiatives must be maintained so that the Queensland racing industry remains a viable option for all its participants.