FROM July 1, 2012, Racing Queensland Limited (RQL) will be implementing a new model for the calculation of Race Information Fees following the NSW High Court Decision.

Earlier in the year, RQL held meetings with industry stakeholders, including representatives from bookmakers and clubs, to discuss the issues relating to Race Information Fees (RIF) and the authority application process for operators.

Taking into account feedback that was received from the industry, RQL has now set the following Race Information Fees for the 2012/13 financial year.

To provide additional flexibility to licensed wagering operators, the fee structure for the 2012/13 financial year incorporates an alternative fee model which an authorised operator may elect to adopt. Key elements of the new Race Information Fees are as follows:

• The default fee model is the Net Assessable Turnover model. The core elements of this fee model are:

1. The Race Information Fee payable by licensed wagering operators for the first $5 million of annual wagering turnover, will be one per cent of turnover; and

• o The Race Information Fee payable by licensed wagering operators for annual wagering turnover greater than $5 million will be:
  • 1.5 per cent of turnover  for the months of July  to April (inclusive); and
  • Two per cent of turnover for the months of May and June (inclusive) for the amounts greater than $5 million.

• Subject to compliance with certain conditions, an authorised operator may elect to adopt the Gross Revenue model. The Race Information Fee payable under the Gross Revenue model will be 20 per cent of gross revenue. It is a requirement of the Gross Revenue model that the fee payable by the licensed wagering operator must be greater than the Race Information Fees paid (or that would have been paid) by the relevant authorised operator in the previous financial year under the Net Assessable Turnover model.

To further assist licensed wagering operators, Racing Queensland has refined the application process and will waive the $150 application fee for all applications completed and returned to Racing Queensland within the required timeframes.

RACING QUEENSLAND MEDIA RELEASE