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The Boards of Racing NSW and the Australian Turf Club (ATC) have today reached agreement on the following:

- That Racing NSW will make discretionary payments to the ATC to top up the TAB distribution until such time that the Court of Appeal decision regarding Racing NSW’s powers to appoint an administrator is handed down

- That the ATC will appoint Morgan Kelly of Ernst and Young to undertake a review and provide advice to the ATC with respect to its hospitality operations

This agreement between the parties assists the ATC’s cash flow and financial position by ensuring that the previous discretionary funding from Racing NSW is continued.

The appointment of Morgan Kelly from Ernst and Young provides valuable expertise to support the ATC in its hospitality operations going forward.