Figures reveal increase in bloodstock sales
Revenue from the sales ring was up 43% to €133.4m, accentuating the enduring appeal for Irish-bred horses in light of continued international success, be it Cheltenham, Royal Ascot, the Breeders’ Cup or the Melbourne Cup.
Export Sales are up by almost 18%, with Irish-breds being sold to 37 countries last year.
While the increase in Tote turnover by 6.5% is to be welcomed, on-course bookmaker betting continues to decline, with a fall of 6.9% adding to a cumulative drop in turnover of €134.5m since 2007.
Attendances were up 4% on the previous 12 months and over a five-year trend, remain marginally better than 2009, although 18% behind the 2007 figure.
An increase in commercial sponsorship has facilitated a modest increase in prize-money, and Horse Racing Ireland has rubber-stamped a further 5.6% addition to prize-money from €45.9m to €48.5m for the year ahead.
“There are many positives in the 2013 figures but we remain acutely aware of the underlying threats to the future of the industry” said HRI chief executive Brian Kavanagh.
“With overall funding cuts of almost 30% since 2008, we are constrained in our ability to capitalise on the potential for growth in domestic and international markets.
“Competing racing nations are better resourced and challenging our position.
“Bloodstock is highly mobile and if we are to attract foreign owners to breed, train and race in Ireland, we must have a racing infrastructure that will stand up to international comparison.
“Thankfully, the new betting legislation, set to progress early in 2014, represents the first step to a sustainable funding system, which will ensure that racing continues to produce an economic return to the country and that we can re-build employment levels in an industry in which Ireland has great national advantages.”
