Harness Racing Victoria’s opening roadshow in Kilmore gave a more cheerful message last night than many had expected – and some new clarity about the most critical issues of the industry.
A role of about 20 participants was accompanied by an online audience through proud Vision with HRV director Matt Isaacs who deliver a message of transformational change to the organization and one of the monitored positivity about the future of industry.
“I have never been optimistic about our future in my 30 -month journey. We are building a future -oriented industry,” said Isaacs.
That optimism is strongly based on the long -term results of negotiations with the Victorian government about the country around Melton, which was purchased two decades ago to “future evidence” in Melbourne’s fast -growing corridor.
For the first time in two years, HRV did not leave any ambiguity about its position, which is further articulated in a strategic plan (2026-28) that would be released in the coming weeks.
The meeting heard that HRV “has a valuable piece of land that is in Melton that is owned by the industry”.
“In the coming year we have to realize Melton’s fixed assets – we have to work with the government to be able to act on that country or be able to collaborate with the right joint venture partners to develop the country – so that we can release value in industry,” said Isaacs.
Chairman Bernard Saundry supported that attitude and warned that the industry should be willing to speak with one voice if necessary.
“The collective group of our industry has a voice and if we have to call on it.
What about Moonee Valley?
The prospect of moving to Moonee Valley – with the redevelopment of the Thoroughbred Club that starts in 2026 – remains on the table, but seems to be financially out of reach in the short term. It is not off the table, but it is not a realistic financial option now.
“Under the current economy of what they want, we are not in the margin,” said Isaacs.
National ratings and stallion tax
In the field of national assessments, the individual HRA consultation sessions of July led to a planned “next evolution” of the NR system, which will come into effect from January 1, 2026. Details will be released later this year.
The controversial stallion tax-introduced as a three-year impost to finance the Eureka and now also discussion in the fourth year. HRV emphasized that it continues to argue on behalf of stakeholders and noted that other states are now expressing similar concerns.
Financial reality check
The figures remain sobering behind optimism.
HRV seems to place a loss of $ 11.8 million (before subsidies) in FY25 – an improvement of $ 14 million compared to the previous year, but still a grim memory of the challenges.
Turnover fell by 8.4% on an annual basis, but Isaacs insisted that the organization is on its way with its “project Zero” program (its response to the government’s requirements for the industry to be self -sufficient) and will supply a $ 33 million turnaround by FY26.
The industry evokes that HRV personnel numbers are being lowered, have been answered, with employee numbers lowered from 110 in the financial year 2023, to a budgeted 69 full -time equivalent staff in the 2026 financial year.
From June 2025, the workforce of HRV was reduced by 25 (FTE) or 36%.
Further forums are schedule for Charlton Tonight (Tuesday 16 September) and Terang Tomorrow Night (Wednesday 17 September).
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