Greyhounds Only Qld Code In The Black

QUEENSLAND greyhound racing made a $18 million profit for the 2021-22 racing year, while thoroughbreds lost $10 million and harness racing lost $5 million.

That is the profit and loss statement released late on Friday by Racing Queensland in its annual report.

It continues to highlight greyhound racing as the only “winner” for racing in the Sunshine State.

In fact, greyhound racing has made a $61 million profit in the past six years, as opposed to a $6 million loss by thoroughbred racing and a $36 million harness racing loss.

Racing Qld's “code overview” for 2021-22 showed:

Total revenue: Thoroughbreds $254m, greyhounds $64m, harness $33m

Total expenditure: Tbred $235m, greyhounds $39m, harness $34m

Gross profit/loss: Tbred $19.7m, greyhounds $25m, harness $945,000 loss

Allocation of overheads: Tbred $29m, greyhounds $7.4m, harness $3.8m

Code specific profit/loss: Tbred $9.7m loss, greyhounds $17.7m profit, harness $4.8m loss

In the period under review, greyhound racing wagering went up by 14.2 percent to $1.6 billion, thoroughbreds by 5.8 percent to $4.4 billion, while harness racing rose 7.9 percent to $0.7 billion.