The key objectives of Racing Victoria Limited (RVL) are to:
- Deliver best practice
- Improve Customer Experience
- Optimise economic performance
- Leverage opportunities beyond Victoria; and
- Value our people, our community and the welfare of the horse.
RVL Responsibilities
On 17 December 2001, Racing Victoria Limited (RVL) was registered as a public company limited by guarantee under the Corporations Act. On 19 December 2001, RVL assumed the functions and responsibilities as the new Principal Club (now known as the Principal Racing Authority) governing thoroughbred racing in Victoria. This coincided with the commencement of the Racing (Racing Victoria Ltd) Act 2001.
Prior to RVL's establishment, the Victoria Racing Club had responsibility as the Principal Club in Victoria. RVL was established with the support of the racing clubs, racing industry bodies and the State Government to provide independent governance of thoroughbred racing in Victoria.
Member Shareholders
RVL's Member Shareholders consist of
Country Racing Victoria Inc (CRV),
Melbourne Racing Club Inc (Melb RC),
Moonee Valley Racing Club Inc (MVRC) and
Victoria Racing Club (VRC), along with the Thoroughbred Racehorse Owners Association (TROA), Thoroughbred Breeders Vic (TBV), Australian Trainers Association (Victorian Branch) (ATA), Victorian Jockeys Association (VJA), Australian Jumps Racing Association (AJRA), Victorian Bookmakers Association (VBA), and unions representing the Australian Liquor Hospitality and Miscellaneous Workers' Union (Vic Branch) (LHMU), Australian Services Union (Vic Branch) (ASU), Australian Workers' Union (Vic Branch) (AWU), Media, Arts & Entertainment Alliance (MEAA).
Constitutional Objectives
RVL's constitutional objectives are to develop, encourage, promote and manage the conduct of the racing of thoroughbred horses in Victoria by ensuring:
- excellence: Victorian thoroughbred racing is, and is recognised throughout Australia and worldwide as a centre of racing excellence;
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service of customers: Victorian thoroughbred racing competes effectively in the leisure and entertainment markets by providing:
(i) excellent customer service to patrons, punters and other customers; and
(ii) a source of exciting entertainment for a wide audience;
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integrity: Victorian thoroughbred racing generally, and race meetings in particular, are managed and conducted to ensure the highest integrity, building continuously on the reputation and integrity of Victorian thoroughbred racing;
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efficiency: Victorian thoroughbred racing is managed with optimal efficiency in order to best enable the meeting of the objectives;
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participation: Victorian thoroughbred racing is managed to encourage the fullest participation by the widest range of people, particularly women and young people;
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economic benefits: the management of RVL's and Victorian thoroughbred racing clubs' revenues, costs, assets and liabilities optimises the economic benefits delivered by Victorian thoroughbred racing to all of its stakeholders and participants, including in particular:
(i) the owners of thoroughbred racehorses;
(ii) the breeders of thoroughbred racehorses;
(iii) other participants and stakeholders in Victorian thoroughbred racing;
(iv) the communities in which Victorian thoroughbred racing operates; and
(v) the Victorian economy generally.
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social obligations: Victorian thoroughbred racing is conducted to ensure that it meets its social obligations to Victoria and the communities in which it operates, including but not only by:
(i) promoting Victorian country thoroughbred racing;
(ii) encouraging responsible wagering and gaming; and
(iii) optimising employment in the Victorian thoroughbred racing industry.
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independence: RVL conducts its operations and exercises its powers and functions in a manner which ensures the public confidence in RVL's integrity and independence from any improper external influence.