But it is the wrong thing to do. It has been proven beyond doubt that increasing stakes does NOT increase participation.
There is no indication in their annual accounts that it goes to the maintenance of core racing infrastructure. Certainly not enough does nor is enough profit put aside.
It should be the main story. I'm afraid though most committees have no idea how to manage a balance sheet and inevitably end up spending money on the wrong activities e.g. bolstering stakes.
If you are talking about Levin well congratulations on "the most successful jumpouts in the country". However you are deluding yourself if you think that Levin is making sufficient proft to maintain their assets. Especially when you take into consideration the sale of land to sustain themselves plus the raceday subsidisation by the Otaki Maori Racing Club.
Never a true word.
Therein lies the conundrum. They aren't accumulating they are redistributing as Stakes. They are taking the risk with their speculation that the track will always perform yet they are not accumulating to maintain that asset.