Tag: Horse racing

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..

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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..

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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

Nov..

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Churchill Downs opens $90m Derby City Gaming Downtown in Kentucky

Churchill Downs Incorporated (CDI) has opened its new $90.0m (£71.5m/€83.4m) Derby City Gaming (DCG) Downtown historical racing machine (HRM)venue in Kentucky.

The facility, CDI’s sixth in the Bluegrass State, has a Kentucky Derby theme and houses 500 HRMs. The CDI venue also features three food and beverage amenities, 130 parking spaces and an exterior 3D video board.

CDI said the project generated 400 construction jobs and resulted in over 150 permanent jobs at the venue. More than $14.0m of the investment was spent with minority, women and veteran-owned subcontracting services.

“This project is one of which I’m particularly proud because in addition to its impact of the Kentucky horse industry, it’s going to bring new energy to our downtown and stimulate investments like it,” CDI CEO Bill Carstanjen said.

“DCG Downtown will give locals, bourbon tourists, convention attendees and all our visitors, another much needed entertainment facility in this region. Investing in downtown L..

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ARC and RMG to launch shared channels for international racing wagering

Arena Racing Company (ARC) and Racecourse Media Group (RMG) have joined forces to create shared channels to distribute UK racing around the world.

The five-year partnership will begin in January with ARC and RMG jointly offering British and Irish racing content. This will be promoted and commercialised across international tote and pari-mutuel markets as a single service.

Racing content will be offered under Great British & Irish Racing (GBI Racing). This served a similar function between 2010 and 2018.

RMG represents 34 British racecourses including Jockey Club-operated racecourses, York and Goodwood. ARC, meanwhile, works with 16 British racecourses and several independent racecourses such as Ascot, Chester and Newbury.

Meanwhile, a separate service for various fixed-odds territories will broadcast coverage from British racecourses. This will also cover ARC’s Premier Greyhound Racing service. Broadcast services for tote and fixed-odds channels will be provided by Vermantia, ARC..

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GC’s Andrew Rhodes walks the tightrope on affordability checks

Fifty-year UK industry veteran, David Brown, evaluates the tightrope being walked by the Gambling Commission on affordability checks.

During the “largest ever gathering of industry leaders” on 10 November, Andrew Rhodes, the Gambling Commission’s (GC) chief executive, attempted to walk the tightrope on affordability checks.

The story of affordability checks has created the most united front between punter, racing media and bookmaker that the UK has seen.

To his credit, we can certainly say that Rhodes has arguably done more to bring the industry together than anyone ever before.

However, that united front is now against him and the Gambling Commission, especially following his speech on 8 November.

The challenge that the GC now faces is the need to balance player protection while keeping the industry sustainable.

The speech: what went wrong

Gambling Commission CEO Andrew Rhodes has a tightrope to walk WITH AFFORDABILITY CHECKS

The GC has a precarious tightrope to walk. Howev..

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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. ..

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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..

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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..

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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..

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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..

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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..

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