HRI figures show on-course decline HRI today published six-month industry figures which highlight a drastic slump in on-course betting, both with ring bookmakers and the Tote. The continuing decline of on-course bookmaking was again evident as €39.7m went through the ring in the same period this year as opposed to €49.5m last term, a drop of 19 per cent. Bookmakers' on-course turnover has fallen by 52 per cent from 2007 to 2011 and this could exceed 60 per cent by the end of 2012 if present trends continue. The Tote on course betting was down a massive 23 per cent from €6.3m in 2011 to €4.8m this year. Some of this was explained by the Punchestown festival being severely effected by weather. Tote betting overall was only down 1.4 per cent suggesting that off course activity, which includes money from abroad for placepots etc., was holding up well. Another worrying trend was the drop in horses in training which fell from 8,217 in 2011 to 7,668, down 6.7 per cent. Registrations of new owners fell by 11.2 per cent to 397, compared to 447. Bloodstock sales, conversely, rose from €20m to €22.9m – up 14.5 per cent. Sponsorship was up 36 per cent but this was mainly due to the additional 13 fixtures at Dundalk racecourse. Overall attendances remained much the same at 496,000, having been 497,000 in 2011 (-0.3 per cent). Although average attendance was down by 5.3 per cent at 3,139. Commenting on the figures Brian Kavanagh, CEO of Horse Racing Ireland said: “While there are disappointing figures, it is pleasing to see continuing growth in bloodstock sales and I anticipate further gains in the second half of the year, a busier period which tends to see higher value purchases. Overseas buyers are an important component of bloodstock sales at present and we will continue to build on the high reputation of the Irish thoroughbred internationally. “The number of horses returned in training and the new owners figures are an area of real concern for the health of the broader industry and the prospects for employment in the sector over the coming years. HRI will be committing additional resources to domestic ownership programmes to help reverse this trend and ensure that we are ready to benefit from the recovery. “The drop in average attendance at race-meetings can be largely attributed to the increased number of fixtures in the period and the unprecedented weather conditions endured by the Punchestown festival and other fixtures in the second quarter. This was also a major factor affecting the Tote’s on-course performance. In the absence of betting tax reform the on-course bookmaker business will continue to encounter difficulties. “The completion of the review of the industry commissioned by the Minister for Agriculture, Fisheries and Food, based on the Indecon consultants’ report and the imminent legislation on taxation of betting will together be the most important developments for the funding and administration of Irish racing since the establishment of HRI in 2001.  All parties have engaged in a comprehensive round of consultation, which gives hope that a consensus on the way forward can be found.  Above all, we hope for a new and sustainable basis for funding and developing this industry, in which Ireland remains a world-leader and which can play a major role in overall economic recovery.”
