Australian Greyhound-Racing Industry to Fight Bans, AFR SaysBy
Industry has raised A$500,000 to challenge ban in two states
About half of all greyhound clubs are in New South Wales
Australia’s greyhound-racing industry has raised A$500,000 ($378,000) to help contest plans by New South Wales and the Australian Capital Territory to ban the sport, according to the Australian Financial Review.
Two other states, Queensland and Victoria, said earlier this week they have no plans to shut down the industry. However, almost half of the country’s greyhound racing clubs are in New South Wales, the AFR said. The state is Australia’s most populous and home to its largest city, Sydney.
NSW Premier Mike Baird said on Thursday he was banning the sport as of July 1, 2017, after a review found systemic animal cruelty in the industry. The policy change pushed down shares in betting company Tabcorp Holdings Ltd. by as much as 7.4 percent.
Greyhound betting accounts for about 5 percent of annual revenue, Melbourne-based Tabcorp said on Thursday. The company expects a “significant level of substitution” as customers move to other products such as wagering on thoroughbred racing.
Tabcorp shares extended their decline on Friday, falling another 2.1 percent.