Sydney, NSW – May 20: Greyhound Racing NSW (GRNSW) has today announced an Organisational Reset to reduce costs and streamline its business efficiencies due to tough trading and market conditions.
The changes will include staff redundancies at its head office and operational teams, cuts to suppliers and contractors and a reduction in club distribution payments.
GRNSW Chief Executive Officer Rob Macaulay said the Organisational Reset had targeted operational savings of 30% across total budget expenditure in FY2024-25.
"In making these necessary changes, great efforts have been made to preserve returns to participants who are the lifeblood of our sport," Mr Macaulay said.
"Prizemoney per race remains the same, but for some adjustments to Group and Feature races that have already been published.
"There will be no negative impact on animal welfare or track safety initiatives, which will continue with increased funding in line with past years and firm commitments for world-best practices."
Mr Macaulay said the Organisational Reset followed a state-wide consultation period with participants, industry leaders and business partners.
"Like other racing bodies in Australia, GRNSW is currently experiencing tougher trading conditions due to the effects of a significant reduction in wagering turnover," he said.
"GRNSW revenue derived from wagering operators is down 22.5% this year, which is having a material impact on our overall income. The headwinds for wagering operators in the Australian market are severely strong, and they are negatively impacting racing organisations, ours included.
"Unfortunately, and with great regret, the substantial impact on GRNSW operations has resulted in job losses as part of a full business review.
"We are providing support and assistance for those who are departing our business, including counselling and career transition services."
Mr Macaulay said the majority of redundancies identified as part of the process were being affected in head office managerial and administration roles, together with the re-purposing of the Wyee kennel facility. Wyee will be developed as a home base for retired NSW greyhounds identified for rehoming through GRNSW's "Aussie Mates" US rehoming program, with the Wyee facility to now be managed by a welfare logistics partner.
"The Chairman and I have just completed a state-wide consultation process. This Organisational Reset comes after a full business review and extended consultations with participants, club and association leaders and business partners to meet the reality that wagering revenue declines are not a blip but look to be here for the short term at least," he said.
"We have identified cost savings, including head office cutbacks, supplier and contractor cutbacks, and we are in the process of finalising club distribution payment programs, which have historically been in line with revenue derived from wagering turnover.
"I stress that all animal welfare programs, including rehoming efforts, post-traumatic stress disorder (PTSD) re-training for retired greyhounds, track safety works, and upgrades will remain fully funded with an unwavering commitment to the world's best standards.
"As a business, we will look to be more agile, lean, and efficient in our operations, but participants should not be affected. Indeed, we hope that participants and the industry more broadly will benefit from these important changes as we reset our cost base in line with market conditions."
