Comparisons futile says Kavanagh as figures show extent of coronavirus damage

Horse Racing Ireland’s six-month statistics reveal key racing and bloodstock metrics have collapsed, with the calamitous fall in bloodstock sales turnover of 87.3 per cent illustrating the crash in economic activity due to the Covid-19 pandemic.

Prize-money (€14.42 million compared to €30.89m in 2019), sponsorship (€2m/€4.2m), fixtures (84/167), races (624/1,220) and runners (7,461/14,142) all plummeted by around half compared to the same period last year.

Racecourse-related revenues, such as attendances (116,293/555,475) and bookmaker (€7.7m/€29.1m) and on-course Tote turnover (€0.9m/€3.9m) all returned figures of around a quarter what they were at the same juncture 12 months ago.

View HRI's full six-month comparative statistics here

While not unexpected given the ongoing coronavirus plight, the statistics show the severity of the impact of racing being shut down fully for two and a half months, as well as the continued lack of attendances at fixtures since the resumption on June 8.

The chief ray of light among the returns was for horses-in-training, which held up reasonably well with a drop of less than two per cent to 7,087 as owners with horses in the system have clearly been eager to seek a return on their investment. Likewise, in the circumstances, the number of active owners held up adequately at 2,880, down 14pc on last year’s 3,251.

Following the government’s decision this week to delay phase four of the lifting of lockdown restrictions, including the increase in public gatherings from 200 to 500, owners will now not be allowed back on track until August 10 at the earliest, with any prospect of attendances being phased back in likewise further delayed. Similarly, Tattersalls and Goffs inability to hold their various sales continues to exact a crippling financial toll.

“The absence of attendances is having a devastating impact on racecourses and the businesses that depend on them such as on-course bookmakers, Tote, caterers and so on,” said HRI’s chief executive Brian Kavanagh, who has repeatedly expressed his fears for the viability of many racecourses the longer the current restrictions continue.

“Horse Racing Ireland and the racecourses are working to develop methods by which attendances can return once deemed appropriate by the government. This is challenging, and the contribution to the industry by the racecourses in continuing to race behind closed doors since June 8 is commendable.

Brian Kavanagh: 'The absence of attendances is having a devastating impact on racecourses and the businesses that depend on them'Credit: Patrick McCann (racingpost.com/photos)

He added: “2020 has been a devastating year for the country and, like many other sectors, the horse racing and breeding industry has suffered greatly having effectively come to a standstill on March 24. Against that background, any comparison with previous years is futile. Nevertheless, a few key points are worth highlighting.

“While traditionally the quieter part of the year, bloodstock sales figures for the first half of 2020 were decimated. The equivalent sales of those scheduled to be held between now and the end of the year generated €150m in turnover for Irish breeders in 2019, much of it to overseas buyers.

“With the support of the Department of Agriculture, Food and the Marine, horse breeding and training were able to continue safely during the period of restrictions and owners have shown great loyalty with just a small drop in the number of horses in training.

"I would like to acknowledge the contribution of owners, both domestic and international, in retaining their horses in training which has protected employment and economic activity in rural Ireland."

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