HRI chief says the outlook is bright for horse racing

Horse Racing Ireland chairman Joe Keeling described 2015 as a positive year and predicted "the beginning of the end of the recession" for the bloodstock industry.

Speaking at HRI’s awards ceremony, Keeling stressed the importance of betting tax revenue and continuing Government support for the industry. He also said the highlight of 2015 was the confirmation in October of the Curragh’s €65 million redevelopment plan.

“2015 has been positive in so many ways: from the implementation of the Capital Investment Programme, the introduction of online betting tax, and the announcement by Government of increased funding, as well as increased prizemoney and lowered costs for ownership,” he said. “But the highlight of the year was the launch of the new company at the Curragh. The Curragh development is the most important venture in the modern history of Irish racing. It will be an iconic new venue for the spiritual home of Irish flat racing.”

Welcoming confirmation in the last budget that €6 million extra over each of the next three years will be committed to the Horse and Greyhound Fund, Keeling stressed the responsibility HRI has for spending public money efficiently.

“We are very conscious of the duty to repay government confidence in our industry by delivering, in a transparent manner, an even greater return to the economy than our current levels of €1 billion per annum.”

Minister for Agriculture Simon Coveney was represented by Minister of State Tom Hayes who called for greater future co-operation between HRI and greyhound racing authorities.