Irish racecourses facing massive shortfall in media rights when racing returns

Racecourses could be hit with a massive shortfall in media rights revenue if betting shops remain closed when racing returns behind closed doors, Association of Irish Racecourses chief executive Paddy Walsh has revealed.

The revenue generated through media rights underpins most racecourses’ business models and acts as a crucial revenue stream to keep a lot of Irish tracks operating. It is worth upwards of €7,000 per race, so around €50,000 per fixture, depending on whether it is a seven or eight-race card.

However, through a contract with SIS, the majority of the revenue stream is generated from licensed betting shops (LBOs), with direct-to-home pictures, international sales and online streaming making up the remainder of the income that all 26 racecourses in Ireland rely heavily upon.