A 10th consecutive year of commercial growth highlighted The Jockey Club's full-year financial results, which were released on Friday. Overall revenues grew by 6.7% to £214.6 million, compared to 5.2% growth and revenues of £201.1 million in 2017. Total turnover growth for the decade is 68.2%, as the revenue from 2009 was only £127.6 million. All of The Jockey Club's profits are reinvested into the sport, with £27.1 million going towards prize money in 2018, an increase of £4.2 million (+18.3%) compared to 2017's £22.9 million. In addition, prize money increases were divided between all levels of the sport, with grassroots prize money increasing by 34% in 2018.
A new record of total prize money distributed between the 339 racing fixtures staged at Jockey Club Racecourses was also set in 2018 at £53.2 million (+16.4%), with 2017 at £45.7 million. An increase of £157,000 (+18%) in average prize money per fixture was also a record, with 2017 having only £133,000 per fixture. Compared to 2009 (£116,000), it is an increase of 35.3% per raceday.
“We have a really clear purpose that's about supporting the best long-term interests of British Racing,” said The Jockey Club's Group Chief Executive Simon Bazalgette. “Since 2009, we have grown our commercial revenues consistently and that's been vital to allowing us to more than double our contribution into British Racing's prize money, while also investing significantly in improving facilities for customers and participants across our venues, and into initiatives like free food and drink for racing staff.
“Contributing to the overall stewardship of our sport is also important, which we see as a true joint venture between racecourses, participants and British Racing's governing body, and supported by fantastic partners such as ITV and the brands we've been able to welcome into the sport.”
For the full report, go to www.thejockeyclub.co.uk.
Not a subscriber? Click here to sign up for the daily PDF or alerts.
