Horse racing – Page 2

March 21, 2024

Racecourse Media Group names Dowding as chief betting officer

Racecourse Media Group (RMG) has announced the appointment of Ben Dowding to the new role of chief betting officer.

Dowding takes up the position following the merger of the organisation’s domestic and international betting teams. He was previously director of betting at Racecourse Media Group.

RMG took the decision to combine its teams as more bookmakers are approaching rights acquisition on a global basis. Dowding will now oversee the enlarged team, taking on the new role with immediate effect.

Dowding is a long-serving member of the RMG team having joined the business in March 2013 as head of partnerships. He went on to become head of B2B and then director of betting, holding the latter role for more than six years.

Prior to his time with RMG, Dowding worked for The Jockey Club. Here, he spent time as sponsorship manager and regional sponsorship manager.

In addition, for the past three years, he has combined his duties at RMG with serving as a non-executive director at BocaSpor..

March 15, 2024

ATG calls on banks to help combat “worrying” Sweden channelisation rates

Aktiebolaget Trav och Galopp’s (ATG) channelisation report for Q4 has shown a continuation of worsening channelisation rates in Sweden.

ATG’s report estimated channelisation rates for gaming to be between 69%-82% in Sweden during Q4. This falls well behind the Swedish’s government’s target of 90% channelisation to legal operators.

The channelisation rate has fallen since the third quarter of 2023. ATG believes there is little sign of the trend being halted.

ATG found visitor traffic to unlicensed operators has increased tenfold since 2019. The research also highlights that out of 20 unlicensed sites with the highest Q4 visitor traffic, 19 shared the same platform providers as licensed operators.

Additionally, of the 20 black-market sites included in the report, none were on the Swedish regulator Spelinspektionen’s banned list.

“It is a very worrying development and our investigation shows that more still needs to be done to keep the unlicensed companies away,” ATG chief executive ..

March 5, 2024

New York confirms plans for $1bn Belmont Park racing makeover

New York’s governor, Kathy Hochul, has confirmed plans for the $1bn transformation of the historic Belmont Park racecourse.

The project, which will include the construction of a completely new grandstand, will be complete in 2026. The majority of work will be concluded during the first quarter of 2026 with the building ready later that year.

Governor Hochul said the new 275,000 sq ft grandstand will offer “the modern amenities and hospitality offerings fans now expect”. New York Racing Association (NYRA), which will oversee construction, has now released a series of renderings ahead of commencement.

New renderings of the transformed belmont park have been released

The demolition of the current Belmont Park grandstand/clubhouse is slated to begin in March and will continue through early July. This summer’s Belmont Stakes Racing Festival will be held at Saratoga to allow for uninterrupted construction at Belmont Park.

New York authorities said the multi-year project will generate $1..

February 1, 2024

Macau’s January revenue of MOP19.3bn nearly breaks post-Covid record

Macau generated MOP19.3bn (£1.9bn/€2.2bn/$2.4bn) in revenue in January, its second highest figure since reopening following the Covid-19 pandemic.

Only Macau’s October 2023 revenue number of MOP19.5bn surpassed the first month of 2024, a strong start to the year and with the Chinese New Year just around the corner.

January’s GGR was a hefty 67% increase on the same month last year, while it was also a 4.1% hike on December 2023.

Despite the figures, Macau’s January GGR still fell 14.4% behind the MOP22.1bn recorded in the final January before the pandemic started.

Macau’s Covid recovery expected to continue

Macau’s response to the devastating Covid-19 lockdown has been impressive, with 2023’s cumulative gross income of MOP183.1bn a 333.8% year-on-year increase. While that is still just 59.8% of the final full year before Covid, the growth seen since the easing of lockdown restrictions is expected to continue.

macau has flourished since the easing of most lockdown restrictions in ..

February 1, 2024

The UK in 2024: Can the sports betting industry be saved?

After a turbulent 2023, the UK outlook for 2024 is not positive. While GGR might have been up by nearly 10%, this has been largely attributable to online casino.

Despite arguably being the world’s most famous market for sports betting, the UK is now in its most difficult position in recent history.

David Brown, a UK bookmaking industry veteran since 1976, and ex-trading director for William Hill, Coral and LadbrokesCoral, is certainly worried.

“I’ve been in the industry for 47 years and this is the most pessimistic I have ever been over the health of the UK sports betting market,” he states.

2023’s earnings: A sign of things to come

bet365 posted a £61.2m loss during its 2022-23 financial year despite increases in revenue

Earnings reports throughout 2023 have arguably precipitated this decline.

What should have been a record-breaking period – first the 2022 World Cup and then a packed holiday season of horse racing – instead became grim reading.

Bet365, the UK’s largest on..

January 31, 2024

Top horse racing live data companies merge

Live horse racing data companies Total Performance Data (TPD) and TripleSdata (TSD) have agreed to a merger.

As a result of the merger, the companies will become one merged entity. The combined company will go on to supply live horseracing data from more than 100 tracks across 11 countries.

The entity will supply viewers with live and post-race tracking data. TPD‘s in-play odds will also be made available to racecourses worldwide.

In addition to the merger, the companies announced a shake-up of their management team. TSD founders Carlos Santo and Sebastian Scholz will join TPD’s board. Here, they will assist with managing a global team comprising more than 40 people.

Brad Higgins, executive director at TSD, is set to lead APAC sales. John McBroom, commercial director at TPD, will lead global sales.

Total Performance Data and TripleSdata will merge to create a combined company

Horse racing competing for attention

Will Duff Gordon, CEO of TPD said the merger improves TPD’s existin..

January 25, 2024

Svenska Spel loses appeal against ATG over naming rights

Svenska Spel has lost its appeal against Aktiebolaget Trav och Galopp (ATG) over the use of the phrase “Trav och Galopp” in a new racing product.

Svenska Spel’s use of the phrase, which translates to “trot and gallop” in English, was considered by the Patent and Market Court of Appeal to be an infringement on ATG’s company name.

ATG launched the initial trademark lawsuit back in December 2020. This was after a war of words between ATG chief executive Hasse Lord Skarplöth and his Svenska Spel counterpart, Patrik Hofbauer.

In a statement announcing ATG’s court victory, Skarplöth said: “That the supreme court also followed our line was expected. It must never be okay to use someone else’s company name and it feels good that the matter is now settled once and for all.

“It was important to establish that a competitor does not have the right to use our company name and exploit its good reputation.”

Another blow for Svenska Spel

The failed appeal comes in the wake of Svenska Spel announ..

January 22, 2024

ATG CEO Skarplöth calls for differentiated tax following 4% rise proposal

Hasse Lord Skarplöth, the chief executive of Aktiebolaget Trav och Galopp (ATG), has called for differentiated tax in response to the government announcing proposals to increase gambling tax by 4%.

In September, Sweden’s government (Regeringen) outlined plans to hike the gambling tax rate in the country from 18% to 22% of gross gaming revenue (GGR). If approved, the tax rise will come into effect in Sweden from 1 July 2024.

While Regeringen believes the move could bring in an additional SEK540.0m (£39.3m/€45.5m/$48.4m) in tax revenue each year, the proposals met with strong opposition from the industry, including the ATG.

In a blog, Skarplöth labelled Regeringen’s plans a “shock”, and called for taxes on horse and other sports betting to remain the same, while increasing those on igaming. Skarplöth cited examples of other European countries with differentiated gambling taxes as reasons for the Regeringen to rethink its proposals.

Skarplöth said: “It came as a shock, the proposal fo..

January 15, 2024

Macau Jockey Club to cease operating horse racing from April

The Macau Horse Racing Company has agreed to cease offering horse racing from 1 April 2024.

Today (15 January), the Macau Horse Racing Company – which operates the Macau Jockey Club – signed an agreement with the special administrative region’s government. This agreement terminated the concession awarded to the Club to exclusively operate horse racing in Macau.

Lei Wai Nong, secretary for economy and finance, signed the agreement on behalf of the government.

Request to cease concession

The Macau Horse Racing Company submitted a request to the government to terminate the concession last year. The company cited difficulties in operations and a lacklustre horse racing environment as reasons for the termination request.

“Macau Horse Racing Company Limited has been operating at a loss, accumulated in excess of MOP2.5bn,” read a statement from the company.

“Moreover, there has been limited room for development and growth of the horse racing industry in Macau over the years and, includi..

January 5, 2024

Betfred extends sponsorship of Derby Festival

Bookmaker Betfred has agreed to extend its title sponsorship of major UK horseracing event the Epsom Derby by an additional year.

Betfred sponsored the Derby Festival for the first time in 2023 in an initial three-year deal. This has now been extended by a further year, covering each event until at least 2026.

As part of the new deal, the bookmaker will now hold naming rights on each day of the two-day event

Betfred will also expand its backing of races during the festival. The bookmaker will support a total of six races at each edition of the event, with the existing deal only covering two races.

Betfred boss hails “memorable” first year

“Following on from a memorable two days at Epsom last year we are delighted to further develop our support of the Betfred Derby Festival,” Betfred boss Fred Done said. “We very much look forward to working with the team to keep the fixture at the forefront of world racing.”

Amy Starkey, managing director for the east region at Jockey Club Raceco..

December 22, 2023

British, Irish and Japanese horse racing industries form committee

British, Irish and Japanese horse racing regulatory bodies have joined forces to create the Joint Cooperation Committee.

The deal sees the British Horseracing Authority (BHA) and Horse Racing Ireland team up with the Japan Racing Association (JRA).

The aims of the committee include promoting Japanese horses, while easing the travel of connections between the regions. Other objectives include the enhancement of awareness of each industry, creating a regulatory partnership and “further internationalising” horse racing.

The chairman of the new committee will be Joe Saumarez Smith, who is also the BHA chairman.

Commenting on the partnership, he said: “The British and Irish horse racing industries have enjoyed a close and fruitful relationship with the JRA – and the wider Japanese racing industry – for many years now.

“We are delighted to be collaborating with the JRA and are hugely grateful for their significant support. This can only lead to increased participation in each other’s ra..

December 21, 2023

National Thoroughbred League announces new Las Vegas headquarters

The National Thoroughbred League (NTL) has promised to “redefine the landscape of sports entertainment” after announcing a new headquarters in Las Vegas.

The NTL launched earlier this year and pits racehorses against each other in teams as part of a league. This in turn simplifies the betting experience.

The move of headquarters has been made with the intention of taking advantage of Las Vegas’ growing role as a sports hub, as well as giving the NTL more opportunity to tap into strategic partnerships. The chance to grow its fan engagement also appealed to the NTL.

Tom Ludt, NTL president, stated: “We are thrilled to announce the relocation of NTL to the vibrant city of Las Vegas. This move represents a strategic decision to align our league with a community that shares our passion for sports and entertainment.

“Las Vegas provides an extraordinary platform for NTL to thrive, with a depth of talent in sports wagering and event management.”

Las Vegas’ growing importance in sport

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Tag: Horse racing