Prizemoney for Irish racing is set to rise by €2.2-million next year to a record €63.3-million. This was unveiled by Horse Racing Ireland on Friday as part of Irish racing's budget for 2018. There will be eight additional fixtures staged in Ireland next year, and prizemoney for point to points will rise by 23%. Capital improvements of the facilities at The Curragh, Galway, Naas, Punchestown and other racecourses will continue next year, supported by grant aid from HRI.
Next year will also see the commencement of the next phase of the redevelopment of Leopardstown, including €15-million towards a new weighroom, saddling boxes, bars, restaurants and public facilities. Further investment will be made towards HRI's ownership department, including international marketing, industry staff training including the launch of the Jockey Pathway programme, and €9.1-million has been allocated to integrity services.
“Despite the static nature of the Horse and Greyhound Racing Fund in 2018, the Board has opted to invest further in policies which will develop and grow the industry,” said HRI Chief Executive Brian Kavanagh. “The Budget approved for 2018 by the HRI Board will stimulate future revenue streams for the industry and provide development opportunities for the industry's most important resource–the people that work in it. The priority for 2018 will be to develop sustainable income streams for the industry and to work with Government to put in place a long-term permanent funding basis for the sector. The measures announced today are sustainable in the short-term only as the result of prudence in previous years. However, in the absence of a funding solution, these programmes are not sustainable in the long-term. Given the challenges provided by Brexit and the infrastructural issues facing the industry, the need for this solution is greater than ever.”
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