Region. Merger of racing clubs

By some accounts, the NSW government has offered the asset-rich AJC and STC racing clubs grants worth as much as $160 million - plus another $50 million in loans - to bring off the deal to revitalise racing in NSW, according to The Sydney Morning Herald. NSW Racing Minister, Kevin Greene, said negotiations were under way and no decision had been made. There has been long-term resistance to a merger from within the clubs.This is a critical time for the state's racing industry, which creates $3.5 billion a year in wagering turnover, employs 50,000 people and generates $433 million for state and federal revenue, the paper said.