Waller lives in Sydney but took time out from a hectic week of sales and racing in Queensland to fly to New Zealand for the advisory committee’s first meeting in Auckland on Wednesday night.
The committee is set to have at least one member added with both business expertise and detailed knowledge of the harness racing industry, to ensure the code is further represented.
The group would be one of the most high-powered assembled in New Zealand racing history, with all having hugely successful business careers, many outside horse racing before all became enormous investors in the racing industry.
The coming-together of the big six, soon to become big seven, comes at a time when New Zealand racing has made enormous advancements in the two years since Entain took over the running of the TAB, injecting expertise and much-needed investment into the struggling industry.
Stakes have risen significantly and Entain has been able to grow turnover – but big questions remain around infrastructure and key drivers to ensure the growth continues.
Among the most important issues will be tracks, particularly in thoroughbred racing, which continues to be plagued by abandonments, cancellations or unsatisfactory results after track renovations.
They are proving enormously costly and are undercutting TAB/Entain’s forecasts as they can’t make money on race meetings that are cancelled.
Another crucial factor in maximising turnover is the racing calendar, ensuring the most attractive product ends up in front of punters on the days they want to bet most.
While both TAB NZ and Entain have input into that calendar, it is the codes that control and maintain the tracks and other infrastructure.
Other key issues the committee will advise on include the breeding industry and how to stimulate the number of foals being bred in both codes, as more horses means bigger fields, which has a direct correlation to future turnover.
Vela says although the industry has made enormous improvements since the TAB/Entain deal started, the advisory committee wants to ensure the best pathway forward, setting up the industry for long-term sustainability.
Crucially, that includes when the five years of guaranteed returns under the TAB/Entain deal end and the codes have to be judged on their results and ability to implement key turnover drivers.
“We have all been tremendously heartened by what has been achieved in the last two years and want to provide advice on the best way forward for the industry,” says Vela.
“There are so many factors that go into making the racing industry sustainable, maximising its turnover and ensuring the momentum keeps going.
“It was very encouraging having so much knowledge and expertise in that meeting on Wednesday and we hope we can help the minister, TAB NZ, Entain and the codes.”
There will be no fees paid to the seven members of the advisory committee, all working pro bono for the future good of the industry.
Birnie and TAB NZ chief executive Nick Roberts say the advisory committee will report back to their organisation in the first instance and recommendations can be passed on to the Racing Minister, Entain or the codes, or in some cases all three.
“It is amazing to see so many of the industry’s genuine leaders wanting to give back their knowledge,” says Birnie.
“To see Chris Waller fly in for 18 hours on Wednesday night to lend his knowledge is quite humbling when you think how busy he would be this week.”
The formation of the advisory committee will also calm some of those who, while thrilled by racing’s renaissance, worry about its future sustainability as racing faces many of the same changes worldwide.
Michael Guerin wrote his first nationally published racing articles while still in school and started writing about horse racing and the gambling industry for the Herald as a 20-year-old in 1990. He became the Herald’s Racing Editor in 1995 and covers the world’s biggest horse racing carnivals.
