The Jockey Club has announced 2017 figures detailing a ninth successive year of growth, as well as a record contribution to British horseracing prize money.
Welcoming four million people to its venues throughout the year, the group has reported revenues exceeding £200m for the first time, up 5.2 percent year-on-year to £201.1m, driven by increases in admissions, media, hospitality and commercial partnerships.
As a result The Jockey Club also generated its largest ever operating profit before prize money of $44.8m, a 3.1 percent rise on 2016’s £43.4m.
This in turn increased its own contribution to prize money by £2.1m, a 10.1 percent increase to a record £22.9m, resulting in prize money across its fifteen racecourse portfolio to £45.7m, up 4.5 percent.
The group also details that it “chose to reduce its operating profit after prize money slightly,” with its 21.9m figure a three percent decrease from the previous years £22.6m.
Simon Bazalgette, Group Chief Executive of The Jockey Club, commented: “I’m very pleased we were able to make a record financial contribution to British Racing in 2017 as a result of achieving a ninth successive year of commercial growth.
“Looking ahead, we are increasing prize money further in 2018 and we are continuing to invest in the experience we offer to customers and participants, whether that’s recently completing Europe’s largest installation of free public Wi-Fi, further enhancing facilities for racehorse owners and trainers or launching the new Britbet betting service for our racing customers this summer.
“We’re working hard to build The Jockey Club brand to create more value to benefit British Racing, including through the record partnership revenues we’re now achieving, and we’re now making some good strides in terms of our efforts to engage more people across the country in our sport, which is vital for the future.”
The Jockey Club also details that over the last ten years group turnover has increased 99.3 percent, operating profit before prize money has risen 39.1 percent and its contribution to prize money has grown 74.8 percent.
Source: SBC News
