Irish Horseracing has revealed a positive first six months of the year for the sport with year-on-year increases in racecourse attendances, prize-money, sponsorship, entries, runners and Tote turnover.
At the high end of the industry side of the sport, bloodstock sales at public auction grew for the fourth consecutive year, with turnover up 8.3% from €22.9 to €24.8 million year-on-year and 84% up on the 2009 figure of €13.5 million.
The impact of economic recession across sectors that had previously been strong sources of racehorse ownership is still being felt with the number of new racehorse owners in the period down from 382 last year to 340 in 2013, roughly 11% of the total number of owners.
“International demand for Irish bloodstock remains strong, driven by the success of Irish horses at home and abroad, said HRI Chief Executive Brian Kavanagh. At Royal Ascot last month Ireland matched its previous record of eight winners, while in March, Irish trainers had their most successful ever Cheltenham festival with 14 winners.”
Prize money was also up by 4% and sponsorship income showed a first increase since 2008, climbing from 2.78 to 2.82 million over the six months.
A small increase in attendance is expected to be boosted further by the recent good weather, a crowd of 20,000 plus at the Dubai Duty Free Irish Derby and by the Galway Festival next week.
Tote betting on racecourses also grew but the amount of money being spent with on course bookmakers continued its decline as more punters turned to online betting through smartphones and tablets, even when in attendance at a racecourse.
The positive figures in Ireland match those from the UK where renewed investment is taking place. Cheltenham racecourse has secured planning permission for a redevelopment costing £45 million, two thirds of the cost of which has been met from a public bond that enabled racing fans invest from £2,000 to £100,000 with a guaranteed return of capital over five years and interest split between cash and racing discounts.