Horse Racing Ireland | Horse Racing Free Tips

Casey Named Group CFO Of HRI

Roger Casey, a chartered accountant who has been with Tattersalls Ireland for 14 years, will join Horse Racing Ireland as Group Chief Financial Officer, succeeding Suzanne Eade, who has moved into the role of chief executive officer.

Casey is a Fellow of Chartered Accountants Ireland, a member of the Institute of Directors in Ireland, and brings international commercial experience to the role having worked with Marsh McClennan; KPMG in Toronto and Dublin; and Deloitte in Dublin.

Eade said, “I look forward to working with Roger, who brings significant financial expertise and leadership to Horse Racing Ireland, coupled with a strong understanding and appreciation for the racing and breeding industry. Roger will have the full backing of a dedicated team in HRI across a diverse portfolio who I have enjoyed working directly with for over six years.”

Casey said, “Racing and breeding are part of the fabric of life in Ireland and I am very aware of the significant impact and footprint of this industry having spent 14 years with a great team at Tattersalls Ireland. I am looking forward to starting this new and exciting role in Horse Racing Ireland, and working alongside CEO Suzanne Eade, the Board and the wider team at HRI.”

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Positive Trends In Irish Racing Figures

The number of horses in training and racehorse owners in Ireland rose year-on-year in 2021, and were among numerous positive figures released by Horse Racing Ireland reflecting on the state of the Irish Thoroughbred industry.

There were 10,579 horses in training in Ireland last year, which was up 14.4% from 2020 and 18.2% from 2019. Likewise, the owner retention rate of 80.7% up was 9.6% on 2020 and 8% on 2019. There were 1,062 new owners registered in 2021, up 36.1% on 2020.

This desire for horse ownership was also reflected at Irish bloodstock sales; bloodstock sales were up 71.3% on 2020, when Irish sales among the most impacted in the world on account of persistent lockdowns, and 10.6% on 2019. A total of €182.8-million was spent at Irish sales last year.

With racecourse attendance severely impacted by the pandemic the past two years, on-course betting turnover of €12.9-million was up 65.1% from 2020, but down 82% from 2019. Total off-course betting was up 2.8% from 2020, but down 6.2% from 2019.

“So many of the figures announced today show a remarkable resilience in the horse racing and breeding industries,” said Suzanne Eade, chief executive officer of Horse Racing Ireland. “The figures for the numbers of horses-in-training have jumped by over 14% year-on-year at a time when attendance of owners at racemeetings was severely curtailed. That support from owners is vital, placing the industry on a secure footing and reflecting favourably on levels of employment across the industry and the wider economic activity that brings. It is hugely encouraging that all categories of ownership have grown and a record owner retention rate is a terrific vote of confidence in the industry.

“Irish Bloodstock sales were hit very badly in 2020 but last year's figures for horses sold at public auction improved greatly with a succession of sales performing well. There was a vibrant trade at the Irish store sales and buyers from 22 countries invested at Irish yearling sales, with Irish-foaled horses sold to 31 countries in all.”

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Irish Prizemoney To Increase In 2022

Prizemoney in Ireland will reach €64.8-million in 2022, an increase from 2021 and second only to 2019 levels. That prizemoney will be paid out over 390 fixtures.

Horse Racing Ireland's 2022 budget also includes an increase in funding for the IRE Incentive Scheme, which will pay out €1.3-million in vouchers for Irish-bred horses at Irish sales; the scheme was worth €1.1-million this year. HRI will also increase funding for the point-to-point sector to a record €2.5-million. HRI will increase funds directed to industry education and training to €13.4-million, and approved a new €12-million racecourse capital development scheme.

“This is a strong budget which has its focus on restoring prizemoney, supporting growth for those earning their living in racing and breeding, investing in integrity and equine welfare, as well as a racecourse capital programme which is centred on ensuring appropriate industry facilities,” said Suzanne Eade, chief executive of HRI. “Framing the budget for the industry for 2022 was not without its challenges, but I'm very happy that we have been able to support the 390 fixtures scheduled for 2022 and with it the opportunities for horses and people at all levels of the industry, while at the same time increasing average prize money and bringing the total on offer to owners back to its second-highest level historically. We know from our ownership base the importance of prize money in attracting new people into our industry and retaining the owners already there, and in tandem with the prize money restoration, we will be investing in ensuring that owner base stays strong.

“Like most companies, we would have hoped to have been framing the industry budget for 2022 with the Covid-19 pandemic behind us but that sadly isn't the case. The impact of Brexit is far from behind us either in terms of its impact on the racing and breeding sector, so we had little hesitation in retaining the IRE Incentive Scheme for 2022 given the tremendous success it achieved in its first year of operation, with an uplift in the number of vouchers that will be paid out next year.

“After experiencing such huge difficulties in 2020 and early 2021, it was heartening to see the strong sales in the second half of the year, confirming the huge confidence there is in our product. There are other challenges too because of Brexit and insurance is one that we, and many other, industries are facing. We have extended our support to Point-to-Points to €2.5m–its highest level ever–recognising that insurance costs are a particular challenge in this sector.

“HRI is also conscious of the need to improve standards for all those working in the industry, especially when they go racing. We will therefore be launching a new €12m industry focused racecourse capital development scheme covering projects to be undertaken in 2022/23 to which HRI will provide €4.8m by means of 40% grant aid. This scheme will target improvements in key industry areas of the racecourse infrastructure such as the weigh room and stable yard, as well as financing work on the racetrack itself including the enhancement of watering systems.”

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HRI Increases Jockey Weights

Horse Racing Ireland will increase the minimum and maximum weights allowed for jockeys under both codes.

From Feb. 1, the minimum weight will be increased three pounds to 8st 7lb for flat races, four pounds to 10st for National Hunt races and three pounds to 10st 7lb for Qualified Rider races. The changes were decided based upon recommendations from a cross-industry Jockeys Supports Working Group set up by the HRI Programmes Committee.

Dr. Jennifer Pugh, the Irish Horseracing Regulatory Board's Senior Medical Officer, said, “I very much welcome these changes to the weight structures which are crucial as we continue to improve the physical and mental health of our jockeys. I look forward to close collaboration with HRI through its equuip division and our other supportive industry partners as we continue to improve our educational and wellbeing supports, to ensure healthy weight making practices become the norm. I wish to thank HRI and the Jockeys Supports Working Group for their time and support in recent months in achieving these changes.”

Jason Morris, HRI director of racing, said, “HRI has taken a number of recent measures which will be of assistance to the health and welfare of jockeys, including the permanent retention of 48-hour declarations, which allows jockeys longer preparation for weights, and the introduction of breaks in the season under both codes. The HRI Programmes Committee accepted the advice received from the Jockeys Supports Working Group to retain the 2lb increase introduced in June 2020 on a permanent basis and to go further in raising the minimum weights under both codes, noting that these measures were supported by the Irish Jockeys Association.”

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