For the first time in history the New Zealand Racing Board has exceeded a yearly turnover of more than $2 billion.
Wow, that's a heap of dosh and the news is sure to spark a rash of critical comments from those who consider gambling of any sort to be somehow evil.
Well, I'm not one of them.
I believe the racing board's success in reaching that milestone must ultimately strengthen an industry which is a major employer in the country and one which gives a lot of people a lot of pleasure.
Sure there are problem gamblers who put too much of their earnings into the pot, but the vast majority of people who punt budget what they can afford to spend whether it is on horse racing, greyhound racing or sports betting.