Attendances at race meetings rise 9% in
Active owners in Irish racing increase 8.5%
Horses-in-training figures continue
On-course bookmakers report 11.5% turnover increase
Six-month statistics for the racing and
breeding industry, released today by Horse Racing Ireland (HRI), show
significant rises in racecourse attendance, new owners entering the racing
industry, a strong retention rate of those already involved in ownership, and a
welcome rise in the turnover of on-course bookmakers.
The half-year returns reveal a further increase in the number of
horses-in-training in Ireland, a figure seen as a key indicator of the
employment dividend provided by the racing and breeding industries.
Racecourse attendances increased by 9% year-on-year and brought with it a
significant knock-on effect with on-course bookmakers enjoying a strong
beginning to 2019, reversing recent trends to report a year-on-year increase in
turnover of 11.5%. Tote betting remained down overall but like on-course
bookmakers, Tote betting increased on track by 5.4%, while on-course SP shops
saw a 9.7% increase in turnover.
Active Owners were up by 8.5% year-on-year, with the owner retention rate
(owners active in two consecutive years) in Irish racing hitting a 10-year high
at 87%.
New owner registrations were up by 9.5% year-on-year with 484 new owners
registering with Horse Racing Ireland – the highest figure since 2008. This
contributed to an increase in horses-in-training of 3.5% in the same period.
The increase in ownership figures and in horses-in-training positively impacted
field sizes and individual runners. Field sizes are seen as one of the drivers
of betting turnover and Irish racing posted a healthy average field size of
11.6 runners per race for the first six months of 2019. Individual runners were
up by 9% to 5,217 and individual runners that won prizemoney were up by 6%.
Despite Brexit uncertainty, bloodstock sales returned a year-on-year increase,
with modest gains of 1.3%. Total race sponsorship continued to rise
strongly, building on growth in 2018 to post another increase – of 12.8% - in
the first half of the year.
Business update from HRI Chief Executive, Brian Kavanagh:
“It is very encouraging that figures for the first six months demonstrate
increased participation rates across the ownership spectrum, more
horses-in-training, and people coming to the races in bigger numbers and
enjoying the wonderful product we have.
“We have worked hard on bringing new owners into Irish racing and then, with
the racecourses, ensuring that the ownership experience was positive so that
the retention rate of our ownership base was high. It is pleasing therefore to
see the rates of new owners and owner tracking at ten-year highs.
“Ownership has been a key focus for Horse Racing Ireland and among the policy
approaches has been increased prizemoney, increased opportunities for every
strand of owner, the reduced costs and, this year, to ensure that prizemoney
filters down to six places. Particular credit must go to our ownership team who
work with racecourses on the ownership experience, run marketing support
programmes for trainers, and organised the inaugural and hugely successful
Trainers’ Open Morning last May.
“The increased ownership base, allied to that retention of the business, has a
huge impact on racing in Ireland because increased horses-in-training and
participation all over the country benefits trainers and breeders, and every
facet of the industry.
“The quality of young horses reared in Ireland and prepared for sales, together
with the resilience of the market for Irish horses, brought strong figures at
both National Hunt Store sales.
“It is always worth bearing in mind that, despite our size, we are the third
biggest producers of thoroughbred foals in the world. Naturally, this means
that we are significant exporters and 80% of those exports go to Britain. The
challenges in terms of movement of animals, customs and tariffs, and potential
protectionism that Brexit will visit upon us, could have detrimental consequences
and we continue to work on behalf of the industry with our international racing
colleagues, politicians and officials both in Ireland and in Brussels.”
SUMMARY
OF KEY FIGURES:
Horses-in-Training up 3.5%
Active Owners up 8.5%
Attendances up 9%
Average Attendances up 6%
Prizemoney up 7%
Field Sizes up 6.4%
Total Runners up 10%
On-Course Bookmakers up 11.5%
Bloodstock Sales up 1.3%
