Horse racing – Page 3

November 10, 2023

Affordability checks: GC chief dismisses black market fears

GC chief executive Andrew Rhodes again dismissed arguments that “intrusive” affordability checks would drive customers towards the black market.

In a bid to quell the gathering storm around affordability checks, Andrew Rhodes, the Gambling Commission’s (GC) chief executive, addressed the largest-ever gathering of industry leaders on the 10 November.

Amid conflicts with stakeholders across the UK betting landscape, Rhodes looked to outline the challenges the industry faces with the implementation of the government’s Gambling Act Review white paper.

Affordability polarisation

Acknowledging the increasing polarisation within the industry, Rhodes looked to re-iterate the Commission’s impartiality as an independent regulator.

“We have clear statutory objectives and responsibilities. We don’t have a commercial interest in what happens, but that doesn’t mean we ignore commercial realities,” he said.

“The debate on gambling has been exceptionally hard to engage in during the past year. ..

November 7, 2023

BHA aims to slow decline on British horseracing betting

The British Horseracing Authority (BHA) has set out a series of changes for its 2024 fixture list, including amending how events are run, to slow what it says has been a decline in betting on British races.

Published last month, the BHA 2024 fixture list includes 170 “Premier Racedays” with higher prize money and more star horses. The BHA has also committed to investment to improve Sunday racing and increase competitiveness across the fixture list.

The plans are the first phase of a new long-term industry strategy, with changes to run for a two-year trial. The Horserace Betting Levy Board (HBLB) will support the plans by providing an additional £3.8m (€4.4m/$4.7m) in funding.

Part of the reason for these changes, the BHA says, is to support the betting side of racing.

Switching Saturday fixtures and new Sunday betting session

The organisation has set out three primary, betting-related targets for the upcoming 2024 season. The first of these is to improve the performance of Saturd..

October 25, 2023

ATG bucks the Swedish market with big rise in profits

Aktiebolaget Trav och Galopp (ATG) has welcomed a double-digit rise in operating profit despite challenging conditions that have caused the Swedish market to stall.

In a trading update for the three months to 30 September 2023, the state-owned betting business said net gaming revenue was up 4.5% to SEK1.35bn from SEK1.29bn last year. The second highest figure for a third quarter in ATG’s history came despite the Swedish market stalling in H1.

Total revenue for the three-month period was at SEK1.53bn, which was up 3.0% year-on-year. Net gaming revenue for racing was up by just over 1.8% to SEK1.02bn. Sports betting was also up slightly from SEK151m to SEK159m.

The group made an operating profit of SEK497m, which was up 13.7% year-on-year. The increase was in part down to a 3% reduction in operating expenses to SEK761m. ATG said the savings came from cutbacks in marketing and consultancy costs.

Economic concerns

“We’re growing revenue – net gaming revenue in the third quarter is his..

October 24, 2023

HKJC aims to expand World Pool after strong 2023

The Hong Kong Jockey Club (HKJC) said it is looking to further expand its World Pool offering for UK and Ireland races after generating HK$4.7bn ($600m/€566m/£490m) in turnover during 2023.

Some 19 races featured this year in this year’s World Pool UK and Ireland offering, including the Lockinge, the Irish Derby and the Sun Chariot for the first time.

The overall total was marginally down on 2022’s figure of HK$4.9bn, but still significantly up on the 2021 figure of HK3.9bn.

Meanwhile, prize money won across the 131 World Pool races in the UK and Ireland this year was at a record high of £32m. In the UK and Ireland, the international pari-mutuel pool is accessed via the Tote, at racecourses, online and via the Tote App.

Michael Fitzsimons, executive director of wagering products at the HKJC,  said: “We are really pleased with how World Pool has been received in the UK and Ireland again this year and the turnover figures look strong against a challenging economic backdrop.

“There a..

October 12, 2023

UK’s Grand National cuts runners for 2024 race

The Jockey Club has announced that the maximum number of runners for the Grand National, the UK’s showpiece horseracing event, will be reduced in 2024 due to concerns over safety.

The current limit on horses running in the Grand National is 40. This has been in place since 1984. However, it is being cut to 34 in line with new measures to protect the welfare of racehorses and jockeys.

Changes will be implemented from the 2024 Grand National, which takes place on 13 April at Aintree Racecourse. One horse died during the 2023 race while the start was delayed due to protests from animal rights activists.

“The Grand National is the most iconic race in the world and one which transcends our sport,” Jockey Club chief executive Nevin Truesdale said. “For many it is also their introduction to horseracing. I believe that a competitive, fair and safe Grand National is one of the best ways of ensuring the sport continues to thrive for generations to come and remains an important part of Britain..

October 2, 2023

FDJ completes acquisition of ZEturf

French national lottery operator Française des Jeux (FDJ) has finalised its acquisition of online horse racing betting site ZEturf Group.

The announcement completes a process that began in November last year when FDJ struck the acquisition deal. The transaction places ZEturf’s value at €175.0m (£151.6m/$185.0m).

Completion comes after the French Competition Authority (l’Autorité de la Concurrence) gave its approval to the deal last month.

Founded in 2001, ZEturf employs approximately 100 people and generated over €50.0m in revenue in 2022. Alongside online horse race betting, it offers internet sports betting via the ZEbet brand.

“The acquisition of ZEturf marks a new chapter for FDJ,” CEO and chairwoman of FDJ, Stéphane Pallez, said. “It strengthens our position in the French market for online games open to competition.

“Following the launch of our poker business, our entry into the world of online horse-race betting rounds out our diversified online range and bolsters FDJ Group..

September 19, 2023

French competition authority clears FDJ for ZeTurf acquisition

France’s national competition regulator, l'Autorité de la Concurrence, has cleared the country’s national lottery operator Française des Jeux (FDJ) to acquire online horse racing betting site ZeTurf Group.

However, FDJ will have to change several aspects of its operations to address the regulator’s concerns about risks to competition.

In particular, FDJ has committed to separating its monopoly and competitive gaming operations. It also has said it will allow any French licensed operator to access the common pool of horse racing bets it manages.

L’Autorité outlines competition concerns

Despite both FDJ and ZeTurf offering online sports betting, their low combined market share meant this alone did not concern the regulator.

Instead, l’Autorité said problems could come from FDJ’s monopoly on lottery games and retail sports betting.

It argued that, because of its exclusive rights to offer these segments, the new combined business may have been tempted to restrict the competition..

August 22, 2023

CDI closes deal for historical racing specialist Exacta

Horse racing operator Churchill Downs Incorporated (CDI) has closed its acquisition of historical horse racing provider Exacta Systems.

The $250m deal allows Churchill Downs to realise significant and immediate synergies, the operator explained.

Its tracks in Virginia, Colonial Downs and Rosie’s Gaming Emporium, already house Exacta historical racing machines. This means it takes charge of the full value chain.

More historical horse racing machines (HHRMs) will be rolled out across its other properties.

Churchill Downs flexes B2B muscle through acquisition

Exacta will fold into CDI’s B2B subsidiary TwinSpires, providing content to its current third-party clients in Kentucky, Wyoming and New Hampshire.

This arm, formerly CDI’s operating business repurposed as a B2B proposition, already powers DraftKings’ horse racing app DK Horse.

August 18, 2023

Caesars extends online racebook to New York

Caesars Entertainment has announced the launch of its mobile horse racing wagering app and website in the state of New York.

The Caesars Racebook product offers New York consumers access to pari-mutuel wagering on races from more than 300 tracks worldwide.

Caesars Racebook is also integrated with the Caesars Rewards loyalty programme. Players earn points for each wager placed and can exchange these credits for experiences at any Caesars location across the US and Canada.

The New York launch follows successful rollouts of the racebook in a number of other states. These include California, Colorado, Florida, Indiana, Kentucky, Louisiana, Maryland, Massachusetts, Minnesota, Montana, North Dakota, Ohio, Oregon, Pennsylvania, Washington and Wyoming.

Caesars said plans are in place to also launch the racebook product in more states across the US.

Joint effort in New York with NYRA Bets

“Building on the popularity of our Caesars Sportsbook app, we are thrilled to launch Caesars Racebook..

July 27, 2023

Record-breaking Derby Week lifts CDI Q2 figures

A record-breaking Kentucky Derby helped Churchill Downs Incorporated (CDI) to post record net revenue for a second successive quarter.

Derby Week generated record revenue of $20.5m, with total sales reaching $768.5m (£592.6m/€690.5m) in Q2. This total was up from $582.5m in the corresponding period last year and $559.5m in Q1.

Meanwhile, adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) hit a record $363.7m in Q2 – up from $291.2m year-on-year.

Read the full story on iGB North America

July 18, 2023

HKJC betting turnover reaches HK$141.1bn in 2022-23 season

Turnover in the Hong Kong Jockey Club's 2022-23 season grew 0.5% year-on-year to HK141.10bn (£13.78bn/€16.03bn/US$18.05bn) as the contribution from international turnover and commingled pools offset local declines.

The Hong Kong Jockey Club’s (HKJC) 2022-23 campaign featured a total of 88 meetings and comprised 835 Hong Kong races and 299 overseas simulcast races.

The increase in turnover, HKJC said, was down to the rising popularity of simulcast races. Turnover from betting on simulcast events jumped 12.5% year-on-year to $11.80bn.

Most simulcast turnover came from customers in Hong Kong, with this rising by 11.3% to $10.50bn. Turnover from the HKJC’s World Pool overseas customers and partners was also up 23.0% to $1.30bn.

While local racing in Hong Kong remained by far the primary source of turnover, contributing $129.30bn, this was 0.5% lower than the previous season.

Of the local racing total, $104.00bn came from consumers in Hong Kong, while $25.39bn was generated by co..

June 16, 2023

BHA will not be “coerced” into televised debate

The British Horseracing Authority (BHA) has said that it will not be “coerced” by animal rights group Animal Rising's promise to halt protest action during the summer if the BHA partakes in a televised debate about the “morals of horseracing”.

Animal Rising made the claim earlier today (16 June) at a press conference. Julie Harrington, CEO of the BHA, said that the association will not be forced to conduct “any activity by threats of protest”.

“At a press conference today, Animal Rising said they will cease their protest activity this summer if British racing agrees to take part in a public debate about “the morals of horseracing,” Harrington said. “We will never allow British horseracing to be coerced into any activity by threats of protests.”

Harrington said that Animal Rising’s protests at the 2023 Epsom Derby – which the BHA hailed as “reckless and dangerous” last week – shows that their public declarations are not trustworthy.

“Animal Rising have shown by their reckless a..

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Tag: Horse racing