British horse racing has received a significant boost with news that the major racecourse ownership group, the Jockey Club, achieved record attendance figures in 2011 of 1.9 million.  More importantly it was able to turn those numbers into increased profits at the same time as providing nearly €4 million extra in prize money.
The Jockey Club includes Cheltenham, Aintree, Epsom and Newmarket in its portfolio of racecourses.  It provides 25% of all British racing fixtures and generates 33% of the attendance at the sport.
The increases in turnover, attendance and prizemoney are particularly impressive given a reduction in industry funding from the bookmaker levy of more than €10 million during the year.
Turnover for the year was up at a figure of €174 million and operating profits of €24 million allowed for a paying down of 10% of the groups debt.
“British racing is on the up and The Jockey Club continues to be our commercial powerhouse,” said Jockey Club Chief Executive Simon Bazalgette.
“We have worked hard to generate increased profits so we can put more back into the sport. In 2011, we were able to contribute more than ever to British racing in the form of prize money, despite the challenging economic environment around us.”
“It’s fantastic that more people than ever watched our equine stars on course last year and in increasing numbers on television. By working together as a sport we are succeeding in broadening its appeal. Now we must keep building on these gains, because for the health and sustainability of British racing; we must be a relevant sport for generations to come.”
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