Tabcorp says new Queensland fees would have cut $3m from profit

    Tabcorp says it has learned of the new horse and greyhound racing fees being proposed by the state of Queensland, adding the new structure would have cut net profit after tax by $3 million. Totaliser bets will be charged at 1.5 percent of turnover for standard meetings and 2 percent for premium meetings. There will be 81 premium meetings in 2015 and 1,549 standard meetings. Racing Queensland is holding a 28-day consultation period on the proposed fee structure. The proposed fee hikes follow those recently announced by the state of Victoria. Australian bookmakers have reacted angrily to the changes.