Over two decades under the leadership of Peter V’landys, Racing NSW and the NRL have splurged millions of dollars on residential and commercial real estate.
Kiama Shores is a motel complex that sits outside Wollongong on the NSW coast. It has a nice-looking pool, “luxurious rooms” and those who stay are only a short walk to the popular Kiama Blowhole.
In 2019, Kiama Shores was sold for $7 million by Kiama Shores Pty Limited, whose sole director is Peter V’landys, the chief executive of Racing NSW and proud hometown man of the area.
Mark Di StefanoColumnistMark Di Stefano is Rear Window columnist, based in the Sydney newsroom. He previously worked at BuzzFeed, the Financial Times and The Information before joining the Financial Review as a media and tech correspondent. Connect with Mark on Twitter. Email Mark at mark.distefano@afr.com
