Submitted by admin on April 22, 2009 - 23:46
Present Scale of Activities
The board, which commenced operations on 28 March 1951 with branches at Feilding and Dannevirke, now has 25 branches and 289 agencies. A very wide coverage of New Zealand has been achieved.
During the period 1951 to 1965 the total amount invested on the totalisators through the off-course scheme was £346,747,593. The board made profits during this period totalling £9,960,535, which have been distributed to the racing and trotting clubs on the following basis:
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Fifteen per cent of the total annual profit being divided equally among all clubs.
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The remaining 85 per cent being divided proportionately among the clubs in relation to the on-course and off-course turnover for each club for the particular year.
The off-course turnover for the year ended 31 July 1965 was £36,276,258, and the profit available for distribution to the clubs was £1,109,689.
