V’landys said record international betting turnover and added exposure through maiden broadcasts on DAZN and Fox Sports 1 in America, which opened the race to a potential audience of more than 500 million, were also major positives.
“Both really promoted the event on their channels, so it’s only going to continue to grow into an international event,” he said.
‘The atmosphere that the Everest meeting generates, people just can’t describe it.’
Racing NSW CEO Peter V’landys
“As [Hong Kong Jockey Club CEO] Winfried [Engelbrecht-Bresges] said, this really develops international racing because to get success in Australia with a sprinter is very rare.”
The positives come amid a tumultuous time for Sydney racing. Racing NSW issued the ATC, which operates Sydney’s four thoroughbred racetracks and owns them all except Randwick, with a show cause notice on September 19 as to why an administrator should not be appointed to replace the board over concerns about the club’s finances and corporate governance.
It came after the sacking of CEO Matt Galanos and then the resignation of directors Ben Bayot and Natalie Hewson that week, which left the ATC board with just four members. ATC chairman Tim Hale told members the club was asset-rich, financially strong, and solvent.
Racing NSW later outlined its reasons, including doubts about the club’s ability to repay a $30 million bank debt due late next year. Initially given two weeks to respond, the ATC’s deadline was moved to this Friday, to keep the focus on the Everest.
David Hayes and Zac Purton celebrate victory in The Everest.Credit: Getty Images
“At this stage, we’ve only given them a show-cause notice to tell us how they’re going to improve, and then we’ll sit down with them in the next couple of weeks to go through it,” V’landys said.
He said “the [ATC] club will make a fortune” from Everest day revenue, including its percentage of betting turnover.
“Because the way it’s structured, any bets internationally, they get direct, so that will make one to two million,” he said.
“Plus, they never had the Everest before. We pay for the race, but any revenues go to them. All the ticket sales, international rights, digital rights, go to the ATC, so the Everest has been a windfall for them.”
Crowds at Royal Randwick on Saturday.Credit: Flavio Brancaleone
The Racing NSW boss said there was room for growth next year at Randwick, which was at capacity on Saturday. Hospitality included the new Base Camp VIP area, which V’landys said Racing NSW spent $9 million to create.
“We have to talk to the ATC, but the in-field in the old days used to be used and there’s no reason why we can’t put in an up-market area in there,” he said.
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“We’ve got no space left on the other side unless we extend the Winx Stand. When we built it, we engineered it so you could put extra floors on. But, we fund it, so anything that happens, we pay for it.
“We’ll probably do the [having spectators in the] infield for next year, and we’ll plan to put another level on the Winx Stand.”