Racing Victoria Limited
Encyclopedia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
. It assumed this responsibility, from the Victoria Racing Club
Victoria Racing Club
The Victoria Racing Club was founded in 1864. It was formed following the disbanding of the Victoria Turf Club and the Victoria Jockey Club. A legacy passed from the Victoria Turf Club was the annual “race that stops a nation”, the Melbourne Cup, which was first contested in 1861.From its...
, on 19 December 2001.
It was established with the support of Country Racing Victoria, Melbourne Racing Club
Melbourne Racing Club
The Melbourne Racing Club is one of three metropolitan horse racing clubs in Melbourne, Victoria, Australia. It began life as the Victoria Amateur Turf Club in 1875 with Mr. E.C. Moore as the Club's first Secretary. The Dowling Forest Racecourse in Ballarat was the location for the first VATC race...
, Moonee Valley Racing Club
Moonee Valley Racing Club
The Moonee Valley Racing Club is located at the Moonee Valley racecourse on McPherson Street, Moonee Ponds . It is one of three racing clubs in the Melbourne metropolitan area; the others are the Victoria Racing Club and the Melbourne Racing Club...
, Victoria Racing Club
Victoria Racing Club
The Victoria Racing Club was founded in 1864. It was formed following the disbanding of the Victoria Turf Club and the Victoria Jockey Club. A legacy passed from the Victoria Turf Club was the annual “race that stops a nation”, the Melbourne Cup, which was first contested in 1861.From its...
, other racing industry bodies, and the Victorian State Government.
Racing Victoria Limited represents the Victorian Thoroughbred
Thoroughbred
The Thoroughbred is a horse breed best known for its use in horse racing. Although the word thoroughbred is sometimes used to refer to any breed of purebred horse, it technically refers only to the Thoroughbred breed...
Industry in dealings with bodies such as the Australian Racing Board
Australian Racing Board
The Australian Racing Board is the peak national administration body for Thoroughbred racing in Australia. The statutory bodies for racing in each State or Territory, known as the Principal Racing Authorities, set up the Australian Racing Board by consensual agreement...
, and is responsible for the marketing of Victorian thoroughbred racing.
The constitutional objectives of Racing Victoria Limited include:
- Ensuring that race meetings are managed and conducted to the highest integrityIntegrityIntegrity is a concept of consistency of actions, values, methods, measures, principles, expectations, and outcomes. In ethics, integrity is regarded as the honesty and truthfulness or accuracy of one's actions...
.
- Management of revenues, costs, assets and liabilities to optimise economic benefits for Victoria.
- Meeting its social obligationsCorporate social responsibilityCorporate social responsibility is a form of corporate self-regulation integrated into a business model...
by encouraging responsible wagering and gaming.
- Exercising its powers to ensures public confidencePublic trustThe concept of the public trust relates back to the origins of democratic government and its seminal idea that within the public lies the true power and future of a society; therefore, whatever trust the public places in its officials must be respected....
and independence from any improper external influence.