Growing the grass roots Winning the world over - HORSE RACING IRELAND STRATEGIC PLAN 2020-2024
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HORSE RACING
IRELAND
STRATEGIC
PLAN
2020-2024
Growing the grass roots
Winning the world over
IRELAND WILL BE THE
GLOBAL LEADER IN HORSE
RACING AND BREEDING,
SUSTAINING A VIBRANT
RURAL INDUSTRY.
c.28,900 €338m 32 counties
JOBS IN IRISH BREEDING AND SECOND LARGEST PRODUCER RACING AND BREEDING
RACING INDUSTRY DIRECT, OF BLOODSTOCK WORLDWIDE ACTIVITIES PRESENT
INDIRECT AND SECONDARY BY VALUE SOLD THROUGHOUT THE COUNTRY
EMPLOYMENT
CONTENTS
FOREWORD 02
STRATEGIC PLAN STRUCTURE 03
HRI AND THE BREEDING 04
AND RACING INDUSTRY
VISION, MISSION, VALUES 06
SWOT ANALYSIS 07
STRATEGIC PRIORITIES 08
STRATEGIC PRIORITIES OVERVIEW 09
OBJECTIVES, ACTIONS, MEASURES 10
MILESTONES 16
FINANCIALS 17
€1.8 billion
TOTAL DIRECT AND STIMULATED
EXPENDITURE
HORSE RACING IRELAND STRATEGIC PLAN 2020-2024 01
FOREWORD
THE HORSE RACING IRELAND STRATEGIC PLAN 2020-2024
HAS BEEN DEVELOPED TO SHOWCASE OUR AMBITIONS FOR THE
HORSERACING AND BREEDING INDUSTRY.
Ireland is the world leader in thoroughbred The geographical spread of these jobs is
breeding and racing. A traditional industry, countrywide with rural centres of excellence
the natural advantages of climate and and no county excluded from the return on
soil, allied to a world-renowned skill in investment.
horse care have seen Ireland become the
headquarters for some of the biggest players The sector under HRI’s governance is
in horse racing. applauded worldwide for its high standards,
judged daily on the racecourses of the world.
Successive governments, over decades, The horse people in leadership roles on five
have seen the potential for a rural industry continents are Irish-born or educated here.
with high value-add which plays to inherent
strengths. Thoroughbred exports are now To maintain our high standards and ensure
the fifth biggest Irish agricultural export by we do even better for our people and our
value, and the thoroughbred industry returns horses requires continued strong support.
€30 of economic activity for every This will create even more jobs, better
€1 of government investment. quality of care, greater participation,
increased exports and even higher returns to
Horse racing is about enhancing the value the Irish economy.
of the stock, it is a desirable vehicle for
betting respected by bettors globally and it Quite simply, the focus areas in this Strategic
is a strong pastime being the second best Plan are the people and the horses.
attended sport in both Britain and Ireland. Participation by both is the key: more
people involved in ownership leads to more
Getting to the top is difficult, staying there horses in training which in turn increases
is even harder and in an uncertain world employment levels. The knock-on effect will
there are unprecedented headwinds. Brexit be to broaden the interest, profile and appeal
remains a threat and an unknown where the of horseracing, with consequent benefits for
impact is widely expected to be negative, the economic activity in rural Ireland.
extent of the potential damage to the Irish
bloodstock industry unquantifiable. This document will be Horse Racing Ireland’s
roadmap. The business of how we do things
The HRI Strategic Plan provides the vision and why we do them each year between now
of where we see the industry in 2024, the and 2024 will be informed by the priorities
roadmap to that destination and what is in this Plan, the results and success of which
needed to get there. The 2017 Deloitte report will be measured by its outcomes.
into the Economic Impact of Racing and
Breeding in Ireland carefully calculated the Nicky Hartery
industry’s economic impact as €1.84 billion Chairman
per annum, supporting directly and indirectly Horse Racing Ireland
29,000 jobs.
02 HORSE RACING IRELAND STRATEGIC PLAN 2020-2024
THE HRI STRATEGIC PLAN IS
FRAMED BY OUR VISION, MISSION
AND VALUES.
OUR SIX STRATEGIC PRIORITIES
EACH CONTAIN A SET OF
SPECIFIC ACTIONS, WITH
DESIRED OUTCOMES FOR EACH
OF THESE.
VISION
MISSION
STRATEGIC PRIORITIES
ACTIONS
OUTCOMES
STRATEGIC PLAN
STRUCTURE
HORSE RACING IRELAND STRATEGIC PLAN 2020-2024 03
HRI AND THE RACING AND
BREEDING INDUSTRY
HORSE RACING IRELAND (“HRI”) IS THE NATIONAL ECONOMIC
AUTHORITY FOR THOROUGHBRED RACING
IN IRELAND WITH RESPONSIBILITY FOR THE
GOVERNANCE, ADMINISTRATION, DEVELOPMENT
€1.84bn €2.5bn
AND PROMOTION OF THE INDUSTRY TOTAL EXPENDITURE
Irish racing and breeding is But we continually strive to
already a vibrant industry, improve, with growth driven by €1.05bn €1.25bn
represented across every county our infrastructure, horsemen
and playing a vital role supporting and women, public interest CORE BREEDING AND
RACING EXPENDITURE
the rural economy. Ireland leads and Government support. With
on the international stage, being these assets all helping us to
the third highest producer of foals stimulate increased investment
globally with the thoroughbred via a sustainable funding model, 28,900 35,000
being more common in Ireland on we aspire to even greater heights
a per capita basis than anywhere over the next five years to achieve TOTAL SUSTAINABLE
EMPLOYMENT
else in the world. the vision of global leadership
supported by rural development
and employment.
9,500 12,000
CORE BREEDING AND
RACING EMPLOYMENT
Racing and breeding in 2017
Racing and breeding in 2024
04 HORSE RACING IRELAND STRATEGIC PLAN 2020-2024
RACING INTEREST AND APPEAL
356 416 25% 30%
POPULATION WITH AN
FIXTURES
INTEREST IN RACING
8,500 10,000+ 1.3m 1.5m
HORSES IN TRAINING ATTENDANCES
€10k €12,500 BREEDING
MINIMUM RACE VALUE
9,381 10,000
INVESTMENT FOALS REGISTERED
0 1 €438m €500m+
EQUINE CAMPUS BLOODSTOCK SALES BY
(DIAGNOSTIC AND IRISH VENDORS
FORENSIC SERVICES)
1 2
ALL WEATHER
RACECOURSES
HORSE RACING IRELAND STRATEGIC PLAN 2020-2024 05
VISION
IRELAND WILL BE THE GLOBAL LEADER
IN HORSE RACING AND BREEDING,
SUSTAINING A VIBRANT RURAL
INDUSTRY
TO DEVELOP AND PROMOTE IRELAND’S
HORSE RACING AND BREEDING
INDUSTRIES, TO ADMINISTER AND
MISSION
GOVERN THE SPORT OF HORSE RACING
IN IRELAND, TO CULTIVATE AND
PROMOTE THE HIGHEST STANDARDS
OF INTEGRITY AND WELFARE
VALUES
WE ARE GUIDED BY A CLEAR VISION
AND MISSION, WHILST ALWAYS
ENSURING THAT WE ADHERE TO THE
SIX CORE VALUES ON WHICH OUR
ORGANISATION IS BASED
RESPECT
- the history, legacy and
tradition of our industry,
its community, the horse EMPOWERMENT EXCELLENCE
population and the people - of our people to set the - in everything we do, to be the
highest standards best we can be in the world
PRIDE AND PASSION
- is at the heart of the racing AMBITION INTEGRITY
and breeding industry and - to build a sustainable and - we are committed to honesty
underpins everything we do progressive organisation and integrity, promoting
which will nurture and grow transparency and sound,
the horse racing and breeding moral and ethical principles
industry
06 HORSE RACING IRELAND STRATEGIC PLAN 2020-2024
SWOT ANALYSIS
STRENGTHS WEAKNESSES
• Heritage of breeding and training winners at • Funding uncertainty inhibits medium to long
highest levels worldwide term planning
• Foreign direct investment • Low return on investment for owners
• Government support, public and media • Ageing racegoing demographic
interest • Time commitment required to attend racing
• Environmentally friendly industry • Perception of complicated sport
• Strong regional reach • Reliance on Britain for export markets
• Source of employment in rural economies • Racecourse reliance on media rights income
• Passionate skilled people • Capital intensive nature of industry
• Disease-free status infrastructure
• International networks • Perception of elitism/barriers to entry
• High quality racing programme • Multiplicity of sectional interests
• High relative per capita attendance
• Fun, exciting sport
OPPORTUNITIES THREATS
• Increased economic impact for Ireland • Brexit consequences
• Grow sustainable rural employment • Social issues relating to gambling
• Embrace new technology in all aspects of • Global mobility of stallion sector
the business • Urbanisation and changed public
• Sustainable funding solution perceptions
• Investment in racecourse facilities • Disease outbreak
• Capitalise on new technologies and customer • Recruitment and retention of skilled staff
insights to improve the racegoing experience • Sourcing sponsorship in a competitive
• Higher levels of disposable income available market
• Retain and recruit owners through • Competition for leisure time and spend
improvement in ownership experience • Betting on other products/sports
• New commercial income streams • Increasing competition from other racing
• New global export markets and breeding countries
• Promote the sport through its heroes
• Enhanced training and educational supports
• Race programming to encourage participation
HORSE RACING IRELAND STRATEGIC PLAN 2020-2024 07
STRATEGIC
PRIORITIES
THE SIX STRATEGIC PRIORITIES EACH CONTAIN A SET OF SPECIFIC
ACTIONS, WHICH WILL ENABLE US TO DELIVER OUR VISION
DELIVERING THE VISION
GLOBAL LEADERSHIP IN BREEDING RURAL DEVELOPMENT AND
AND RACING EMPLOYMENT
STRATEGIC PRIORITIES
PARTICIPATION BROADEN INTEREST AND APPEAL DRIVING EXCELLENCE THROUGH PEOPLE
Improve the racing experience for all Raise the profile and attractiveness of the Develop our people to support sustainable
participants in the industry and strengthen sport to our customers to ensure both employment throughout the industry,
the quality of our product. retention and growth of our audience. facilitating future growth.
INVESTMENT INTEGRITY AND EQUINE WELFARE SUSTAINABLE FUNDING MODEL
Invest in securing areas critical to the Enhance our domestic and international Secure a sustainable funding model to
development of our industry – including reputation through world-leading grow the industry and achieve our vision of
infrastructure, inward investment and standards of integrity and equine welfare. global success and rural development.
global promotion of Irish bloodstock.
08 HORSE RACING IRELAND STRATEGIC PLAN 2020-2024STRATEGIC PRIORITIES
OVERVIEW
PARTICIPATION BROADEN INTEREST AND APPEAL DRIVING EXCELLENCE THROUGH PEOPLE
1 Grow the number of people involved in 4 Raise the profile of horseracing in 7 Support the industry to achieve
racehorse ownership. Ireland. sustainable employment and best
practice employment standards.
2 Build the number of horses in training 5 Drive new standards in the promotion
in Ireland. and marketing of racing by racecourses. 8 Design a strategy for industry education
and training which advocates excellence
3 Increase the number of quality horses in 6 Grow sponsorship and brand activation in performance and offer career
training in Ireland. for Irish horse racing. pathways.
9 Embed an HR strategy which supports
INVESTMENT INTEGRITY AND EQUINE WELFARE HRI and its subsidiaries to achieve its
strategic and operational objectives.
10 Support racecourses throughout Ireland 13 Work collaboratively with the IHRB to
to develop best in class customer and ensure that Irish racing operates to
industry facing facilities while remaining the highest standards of integrity and SUSTAINABLE FUNDING MODEL
economically viable. fairness.
16 A sustainable long-term funding
11 Source new and higher levels of foreign 14 Support the establishment of a new structure for the industry.
direct investment in the Irish racing and equine health and welfare campus with
breeding industry. world class diagnostic and forensic 17 Demonstrate the value and economic
services. impact of the industry to all key
12 Maintain Ireland’s position as the stakeholders.
leading source of Thoroughbreds in 15 Ensure that best practice in equine
Europe in terms of volume produced welfare is adopted throughout the 18 Ensure a mutually beneficial relationship
and value sold. industry. with the betting industry through
collaboration and close co-operation.
HORSE RACING IRELAND STRATEGIC PLAN 2020-2024 09STRATEGIC PRIORITY 1
PARTICIPATION
1 2
OBJECTIVE OBJECTIVE
Grow the number of people Build the number of horses in
involved in racehorse training in Ireland
ownership
ACTIONS ACTIONS
1. Improve the ownership experience, both at 1. Offer a competitive race programme
the racecourse and away from it (e.g. via which allows all owners and trainers the
3
regular communication from trainers/HRI opportunity to progress and underpins OBJECTIVE
Ownership Department). future growth. Further increase the number
2. Define a clear ownership target through 2. Increase the size of the fixture list and of quality horses in training
establishment of the potential ownership number of races to maximise the number and at stud in Ireland
pool by market. of individual runners.
3. Facilitate trainers in creating a 3. Use increased funding to achieve prize
sustainable business model. money of at least €90m by 2024 and ACTIONS
4. Support trainers’ promotional activities. ensure distribution to a broader pool of
owners and trainers. 1. Ensure that the Irish race programme
4. Progressively increase the minimum value remains the highest quality in Europe.
OUTCOMES for any race from €10,000 to €12,500. 2. Review the entry structure for major
5. Sustain and develop Point-to-Point racing races to attract a high level of entries.
- Total number of horses in training per and encourage progression of Point-to- 3. Progressively improve the race
annum to increase from 8,561 to 10,000+ Point horses to run under Rules. programme and prize money at key
by 2024. fixtures.
- Core racing and breeding employment to
increase from 9,500 to 12,000. OUTCOMES
- Number of individuals (Irish and OUTCOMES
international) involved in racehorse - Increase in fixtures annually – to 377 by
ownership to grow from 8,187 to 10,000+ 2021 and to 416 by 2024. - At least 10% of races under both codes to
by 2024. - Increase in average field sizes and offer Black Type.
- 1 in 500 Irish residents to be involved in reduction in the number of races with - Provide average prize money levels which
racehorse ownership by 2024 (currently less than 8 runners. bear favourable comparison with the
1 in 650). - Increase collective number of trainers/ other major European racing nations.
jockeys with 10+ winners annually from - Increase the number of National Hunt
125 to 150 by 2024. horses rated 140+ and Flat horses rated
- Prize money to reach €90m by 2024. 100+ annually.
- Increase both the number and % of
horses winning prize money.
- Minimum race value of €12,500 per race
by 2024.
10 HORSE RACING IRELAND STRATEGIC PLAN 2020-2024STRATEGIC PRIORITY 2
BROADEN INTEREST
AND APPEAL
4 5
OBJECTIVE OBJECTIVE
Raise the profile of horseracing Drive new standards in the
in Ireland promotion and marketing of
racing by racecourses
ACTIONS ACTIONS
1. Define - then grow - the number of 1. Implement a ‘customer first’ perspective
horseracing fans in Ireland. to all capital programmes for
2. Target each segment of fans with racecourses.
relevant offers and experiences. 2. Supplement local racecourse knowledge
6
3. Invest in the brand of racing, drawing on with support that will add value and OBJECTIVE
its heroes and fun / excitement factor. enhance growth metrics – in particular Grow sponsorship and brand
4. Break down perceptions of complexity / in specialised areas such as digital activation for Irish horse racing
barriers to entry for new fans. marketing, CRM and media buying.
5. Target year on year growth in the total 3. Develop tools and templates in areas
number of attendees, driven by the major such as pricing, local media and ACTIONS
festivals. community engagement.
4. Incentivise feature racedays such as a 1. Demonstrate the appeal of horseracing
music/student fixtures and “behind the to the corporate sponsorship market.
OUTCOMES scenes” events (e.g. for schools and 2. Develop new assets and related rights
colleges). packages tailored to new and current
- Increase in national interest in racing 5. Net Promoter Score (NPS) type scoring industry sectors.
from 25% to 30% by 2024. or racecourse awards scheme developed. 3. Collaborate with key sponsors for
- Attendances to reach 1.5m by 2024. 6. Introduce a loyalty programme for activation at major festivals.
Irish racing incorporating racecourses,
ticketing and commercial partners.
OUTCOMES
OUTCOMES - 100% race sponsorship at all tracks by
2024.
- Enhanced advance tickets sales strategy - All of the major festivals to have a title
live by 2021. sponsor by 2022.
- Agreed national pricing policy for certain
segments by 2021 (students/U18s).
- National open day for general public at
50+ trainers’ yards nationwide.
- Loyalty programme in place by 2021.
HORSE RACING IRELAND STRATEGIC PLAN 2020-2024 11STRATEGIC PRIORITY 3
DRIVING EXCELLENCE
THROUGH PEOPLE
7 8 9
OBJECTIVE OBJECTIVE OBJECTIVE
Support the Industry to achieve Design a strategy for Industry Embed an HR strategy which
sustainable employment and education and training supports HRI and its subsidiaries
best practice employment which advocates excellence to achieve its strategic and
standards in performance and career operational objectives
pathways
ACTIONS ACTIONS
ACTIONS
1. Ensure integration of the HRI Industry 1. Ensure that talent and development
Services Committee into the wider 1. Maintain and develop Ireland’s reputation processes, along with some key strategic
breeding and racing industry. for world class standards in relation to external hires, deliver succession plans.
2. As part of racecourse capital plans, equine education and training. 2. Ensure a reward model is in place
reform, remould and reconstruct facilities 2. Design an industry framework focused that is clear, transparent and easy to
to provide a more conducive work on the following principles understand.
environment. - Industry relevant 3. Performance culture to focus on
3. Ensure that full and regular updates of - Fit for purpose individual, team and line manager roles.
the Industry employment agreements - Future proof 4. Learning and development to include
between IRTA/ISSA take place. - Nationally accessible. new ways of working, promoting
4. Improve employment standards across 3. Ensure that excellence in performance transparency and openness through
the country. programmes and career pathways are in cultural change programmes.
5. Provide enhanced welfare support place for jockeys, stable staff and other 5. Employee engagement and
services to all those working in the industry participants. communication plan to be put in
industry. 4. Provide educational services for the place that supports the organisation
racing and breeding industry. throughout the year.
OUTCOMES
OUTCOMES OUTCOMES
- Industry agreement in place for 2020
that is fit for purpose, relevant and in - Increase in nationally accessible equine - Lower employee turnover and greater
compliance with agreed legislation and/ education/training programmes in place employee engagement through an
or codes of practice. by 2024. integrated internal communications plan.
- Clear communication and information - Greater participation rates across - High performance culture facilitated
available on career opportunities, education and training programs tailored through a culture of employee advocacy
employment essentials and industry- to match specific Industry needs. to support the Industry.
wide induction. - Clear career pathways in place including
- Facilities in place at racecourses to entry level pathways to boost attraction to
support the flexible work practices and the Industry.
employees. - A training academy that is fully
supported, recognised and utilised by all
stakeholders in the Industry.
12 HORSE RACING IRELAND STRATEGIC PLAN 2020-2024STRATEGIC PRIORITY 4
INVESTMENT
10 11 12
OBJECTIVE OBJECTIVE OBJECTIVE
Support racecourses Source new and higher levels Maintain Ireland’s position as the
throughout Ireland to develop of foreign direct investment in leading source of thoroughbreds
best in class customer and the Irish racing and breeding in Europe in terms of volume
industry facing facilities while industry produced and value sold
remaining economically viable
ACTIONS ACTIONS
ACTIONS
1. Actively promote overseas investment 1. Work with the Government on creating
1. Contribute up to €30m towards a new in Ireland by high net worth (HNW) the optimum environment for the Irish
capital development scheme of at least individuals. thoroughbred industry, with a focus on
€70m, with the balance funded by 2. HRI/ITM to work closely with all state breeder friendly and pro-investment
racecourses, so as to continue to develop agencies such as Department of policies, particularly post-Brexit.
facilities in line with customer and user Foreign Affairs, foreign embassies, 2. Engage with stallion owners, assisting
expectations. IDA, Enterprise Ireland, and tourism them to promote their stallions as well
2. Create the environment which allows all bodies to ensure that investment in as providing them with data on the
26 racecourses to be profitable. Irish bloodstock is developed to its full advantages of breeding in Ireland to their
3. Maximise the potential of the available potential. existing and potential clients.
racing surfaces at all racecourses, 3. Promote the advantages of locating in
optimising the use of the turf. Ireland to international mare owners and
4. Advancement of a long-term OUTCOMES breeders.
development plan for Leopardstown and 4. Through ITM, cultivate the brand image
Fairyhouse racecourses. - Increase the number of High Net Worth for the Irish thoroughbred internationally
5. Link the allocation of fixtures to the individuals investing each year. – specifically promoting the (IRE) country
performance of racecourses across a set - Increase the number of countries from code as a mark of quality.
of agreed measurements. which investment is sourced. 5. Offer a high quality race programme that
- Track and grow the amount of foreign supports and delivers an enhanced band
direct investment into the Irish racing of broodmares in Ireland.
OUTCOMES and breeding industry 6. Introduce tracking of mare metrics and
‘black type’ producer/performer data
- New €70m capital development scheme for mares.
launched in 2021 covering the period
to 2024.
- Second all weather track in Tipperary OUTCOMES
completed and opened by 2022.
- WiFi provided at all racecourses by start - Ireland to be home to no less than 6 of the
of their 2020 racing seasons. top 10 leading sires in Europe at all times.
- One stable per horse for runners at all - Increase the number of foals registered
racecourses by 2022. annually up to 10,000.
- Increase in average and aggregate
turnover at Irish sales.
- Increase in global value of bloodstock
consigned by Irish based vendors
worldwide.
HORSE RACING IRELAND STRATEGIC PLAN 2020-2024 13STRATEGIC PRIORITY 5
INTEGRITY AND 15
OBJECTIVE
Ensure that best practice in
equine welfare is adopted
EQUINE WELFARE
throughout the industry
ACTIONS
13 14
OBJECTIVE OBJECTIVE 1. Raise understanding of equine welfare
Work collaboratively with Support the establishment amongst racing stakeholders and
the IHRB to ensure that Irish of a new equine health and increase public awareness of racing’s
racing operates to the highest welfare campus with world commitment to equine welfare
standards of integrity and class diagnostic and forensic 2. Commission research to establish
fairness services benchmarks of optimal equine welfare
in the management of racehorses and
breeding stock.
ACTIONS ACTIONS 3. Support the IHRB to develop equine
welfare training modules and ongoing
1. Provide a multi-annual funding 1. Ensure access to IFHA reference updates for licence holders including
framework to ensure the IHRB provides laboratory for testing of samples. through a racehorse welfare portal.
world class regulatory services for Irish 2. Create a new equine campus containing 4. Produce guidelines to ensure the highest
racing. world class research, diagnostic and standards in horse-facing infrastucture
2. Work with IHRB to create efficiencies in forensic services based at the Irish and bio-security on racecourses.
delivery of integrity services through use Equine Centre. 5. Support the IHRB to create a
of technology. 3. Continued commitment to world comprehensive equine injuries database
3. Work with IHRB to create efficient class anti-doping strategies including and develop appropriate intervention
administration services for all increased out of competition testing and strategies to minimise risks.
participants in the sport. a screening programme for the breeding 6. Publish information for potential and
4. Work with IHRB, Weatherbys and the industry. existing owners about responsible
Department of Agriculture, to implement 4. Work with the IHRB to develop standards racehorse aftercare.
a ‘whole of life’ traceability system for all around equine research. 7. Convene a thoroughbred industry
thoroughbreds. welfare symposium each year to share
knowledge and improve practices.
OUTCOMES
OUTCOMES
- Equine health and welfare campus OUTCOMES
- Whole-of-life traceability system to be commenced in 2021 and established
developed in 2020. by 2023. - Create benchmarks of optimal equine
- Complete a co-design policy-making - Crisis response protocols to include welfare.
project by 2020 agreed response to equine welfare - Introduce formal guidelines re minimum
- Create a Racehorse Welfare Council challenges. racecourse requirements.
in 2020. Council to establish industry - Develop a “Trusted Source” certification - Establish formal equine injuries database.
standards by 2021. where IEC can advise on best practice - Publish detailed aftercare information
- 30-day Foal Notification to become and award badge of excellence by 2022. for owners.
mandatory in 2020. - Introduce Racehorse welfare portal and
- Introduce e-Passport with multi- annual thoroughbred industry welfare
functionality for 2022 foal crop. symposium.
14 HORSE RACING IRELAND STRATEGIC PLAN 2020-2024STRATEGIC PRIORITY 6
SUSTAINABLE
FUNDING MODEL
16
OBJECTIVE
Secure a Sustainable Funding
17 18
Structure for the Industry OBJECTIVE OBJECTIVE
Demonstrate the value and Ensure a mutually beneficial
economic impact of the Industry relationship with the betting
to all key stakeholders industry through collaboration
ACTIONS and close co-operation
1. Secure an increased multi-annual ACTIONS
funding model. Outline the return on ACTIONS
investment and the economic impact of 1. Communicate with the media and public
the racing and breeding industry, thus representatives to explain the importance 1. Work with the betting industry to ensure
ensuring funding in place for all key of the racing and breeding industry, its that horse racing remains the pre-
strategic decisions. contribution to the economy and the eminent product within the Irish betting
2. Maximise commercial non-government value for public money provided. shop estate.
revenue for Irish racing. 2. Engage with key stakeholders, 2. Work with betting operators and their
3. Increase international revenue through public representatives and European representatives to promote responsible
overseas media rights sales. counterparts to ensure the optimal gambling measures.
4. Grow the profitability of Tote Ireland to solutions for Irish racing and breeding
maximise annual returns to racing. post-Brexit.
5. Support the industry in Northern Ireland 3. Work with various industry bodies and OUTCOMES
in developing a sustainable funding staff members to explain the workings
mechanism for that region. and economic value of the industry so - Betting on Irish racing to grow year on
6. Work with the IHRB to deliver a cost they can all be advocates. year.
efficient, user friendly administration 4. Engage with key stakeholders to ensure - Percentage of turnover on Irish racing in
service to all participants in Irish racing. the industry operates with sustainability Licensed Betting Offices to be measured
and with the environment as a priority. and reported annually.
OUTCOMES
OUTCOMES
- Progressively increase funding of
horse racing from €67m in 2019 to €98m - Every political party to include an
by 2024. informed position on the racing and
- Commercial income for HRI of €18m breeding industry in their agricultural
by 2024. policies.
- New media rights deal secured which - Ensure continued free movement of
maximises income post 2023 when the animals with the UK which is tariff-free
current deal expires. and facilitated by high health welfare
- New funding mechanism for Northern and hygiene status in both countries
Ireland to be in place. post-Brexit.
- Environmental policy for HRI, its
subsidiaries and racecourses to be
finalised in 2020, with emphasis on
commitment to sustainability and Green
governance.
HORSE RACING IRELAND STRATEGIC PLAN 2020-2024 15MILESTONES
2020 2022 2024
NEW RACECOURSE NEW ALL WEATHER RACING AND BREEDING
CAPITAL DEVELOPMENT TRACK TO OPEN IN EXPENDITURE OF €2.5 BILLION
SCHEME LAUNCHED TIPPERARY
TOTAL SUSTAINABLE
WIFI AVAILABLE AT ALL EMPLOYMENT OF 35,000
IRISH RACECOURSES
PRIZE MONEY OF €90m
LATEST PHASE OF
LEOPARDSTOWN
REDEVELOPMENT
COMPLETE
2021 2023
EQUINE HEALTH AND WELFARE EQUINE HEALTH AND
CAMPUS DEVELOPMENT WELFARE CAMPUS
COMMENCED ESTABLISHED
CENTRALISED TICKETING
SYSTEM IN PLACE
RACEHORSE WELFARE COUNCIL
TO BE CREATED AND SET
INDUSTRY STANDARDS
16 HORSE RACING IRELAND STRATEGIC PLAN 2020-2024FINANCIALS
OUR FINANCIAL PROJECTIONS Revenue: 2020-2024 (€m)
UP TO 2024 WOULD BE 150 142 145
135 5 5
ASSISTED BY THE 5 17 18
118 15
IMPLEMENTATION OF A 125
5 22
24
106 15 19
SUSTAINABLE FUNDING 15
5
100 19 7
12 98
MECHANISM FOR THE 19 91
2 84
INDUSTRY. 75 77
67
Government
50
Capital Contribution to
This will require government support Irish Equine Centre
and if achieved will enable us to meet the Owners
25
desired outcomes we have outlined in this Commercial
strategic plan and achieve our vision of global Other
leadership sustaining a vibrant rural industry. 0 2020 2021 2022 2023 2024
The financial projections are driven by a 175
number of assumptions, notably: Strategic Priority Investments: 2020-2024 (€m)
150 139 142
• funding of horse racing to increase to 1 1
132 21
€98.2m by 2024 1 28
31
125 115
2 15
• an increase in the number of fixtures to 106 21
1 15 5
over 416 by 2024 18 Strategic Priorities
100 16 4 96
7 10 87 1. Driving Excellence
4 4
• an increase in prize money to €90m 4 Through People
75 76
by 2024 75 73 2. Participation
3. Broaden Interest
Throughout this period we will continue to 50 and Appeal
4. Investment
invest in infrastructure and innovation for the
industry whilst ensuring the highest levels of 5. Integrity and
25 Equine Welfare
integrity and equine welfare are maintained.
3 3 4 4 4 6. Sustainable
Funding Model
0 2020 2021 2022 2023 2024
Cash Flow (€m) Budget Plan Plan Plan Plan
2020 2021 2022 2023 2024
Surplus/(Deficit) on Revenue and
Strategic Priority Investments 0.2 4.2 3.5 3.4 3.7
Non-Cash Items (0.2) (0.2) (0.2) (0.2) (0.2)
Loan Drawdown/(Repayments) (7.7) (3.2) (1.6) (1.7) (1.1)
Other including Working Capital 7.4 (1.8) (0.8) 4.1 2.9
Net Cash Flow position (0.3) (1.0) 1.0 5.6 5.4
HORSE RACING IRELAND STRATEGIC PLAN 2020-2024 17HORSE RACING IRELAND
Ballymany, The Curragh, Co. Kildare.
Telephone: 045 455 455
Fax: 045 455 456
Email: info@hri.ie
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