A review of the first six months of the year in Ireland shows that while ownership is up from this same period last year, racecourse attendance is down.
The number of new owners compared to this time last year is up 19%, while the number of syndicates is up 44%. This is likely aided by an increase in prizemoney, which is up 4.4%, or €1.2-million. Also up are race sponsorships (7%) to €3.722-million. Bloodstock sales have seen a 1.6% rise compared to the first half of 2017.
“Horse Racing Ireland is actively involved in encouraging new owners and retaining our existing ownership base,” said Horse Racing Ireland Chief Executive Brian Kavanagh. “Last year's report by Deloitte into the economic impact of the racing and breeding industry in Ireland confirmed owners to be the chief source of funding in Irish racing. Our Ownership Department in Horse Racing Ireland markets the benefits and attractions of racehorse ownership in Ireland, and continues to assist trainers with marketing support. I welcome the recent introduction by the Ownership Department of a new online leasing section.”
Attendance figures were likely affected by the poor weather that ravaged the early part of the year and caused 25 meetings to be cancelled or rescheduled. While racecourse attendance was down 2.3%, attendances in May were up 10% on last year.
Betting was also down both on-course (-13.9% for the Tote and -11.5% with bookmakers) and off-course (-37.7%), and Kavanagh admitted that while the poor weather to start the season could have impacted these figures, but that a change in the public's betting habits is mostly to blame.
“We noted at this time last year that on-course betting figures remained under significant pressure and the figures released today continue to reflect the challenge facing all on-course operators, both Tote and bookmakers,” he said. “The weather-affected programme in quarter one will have impacted heavily on both but a change in betting habits has made the most telling contribution.”
“In relation to the Tote, legislative changes in Israel restricting gambling has had a serious impact on the Tote's overall turnover,” Kavanagh added. “Tote Ireland are continuing to adapt their product online in response to market demand and their on-course presence remains an intrinsic part of the race-going experience, as is the case with the on-course bookmakers. The Association of Irish Racecourses is sitting down with the bookmakers presently to discuss their business model and see where changes can be made.”
After noting some of the positive highlights of the season thus far, like the inaugural Dublin Racing Festival in February and Jessica Harrington, Ken Condon and Joseph O'Brien all winning their first Classics, Kavanagh looked ahead at the challenges presented by Brexit.
“A number of challenges remain following Britain's decision to leave the EU and Brexit continues to be a huge source of concern for our industry,” he said. “There are issues around movement of animals between Ireland and Britain–and movement north-south within Ireland–as well as the threat of tariffs and trade barriers. All of this is in sharp focus for the industry in Ireland because we are a long-established exporting country for horses, 80% of which go to Britain. We continue to work very closely with our European counterparts, including the BHA and France Galop; the Department of Agriculture, Food and the Marine and Department of Foreign Affairs both here and in Brussels to achieve a workable solution for racehorses and breeding stock after Britain leaves the EU.”
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