The Jockey Club Announces Record Annual Results

The Jockey Club, which stages several events in British sport, such as the Randox Health Grand National, The Cheltenham Festival and The Investec Derby, has announced a record set of annual results, including the amount it put back into British Racing through prize money.

The Jockey Club delivered its eighth successive year of turnover growth to a record £191.5m in 2016, up by 4.5% year-on-year [2015: £183.3m].

This converted into the group’s largest-ever operating profit of £22.6m [2015: 21.9 million], despite increasing its contribution to prize money to a record £20.8m [2015: £19.9m] and taking the decision to increase operating expenditure on facilities designed to provide a better experience for customers and racing surfaces.

The successful commercial performance from the owner of the likes of Aintree, Cheltenham and Epsom Downs racecourses was driven by a range of revenue streams, including continued growth from large racing festivals, its Jockey Club Live joint venture, commercial partnerships, media license fees and record numbers of racehorses using Jockey Club Estates’ training facilities.

Attendances of 1.92 million people to the 333 racedays [2015: 336 fixtures] it staged at its 15 racecourses nationwide were the second largest ever at Jockey Club Racecourses. This was despite eight fixtures [2015: five] being cancelled due to bad weather.

The Jockey Club is a company limited by Royal Charter. It generates profits to reinvest back into the sport. Since 2008 – its first full year as a commercial organisation without a role in the governance or regulation – The Jockey Club has managed to grow its turnover by 90% [2008: £100.9m], giving it greater means to support British racing in particular through prize money and improving facilities for horsemen and customers.

With effect from Tuesday 25th April 2017, the Department for Culture, Media and Sport completed its reforms of the Horserace Betting Levy, to extend it to all betting operators accepting bets on the sport from bettors based in Britain. This is considered a key pillar in the funding of British Racing. Both the UK Parliament and the European Union approved the legislative changes.

Simon Bazalgette, group chief executive, said: “It is fantastic to stage events that see the best horses and the experiences we offer bringing enjoyment to so many millions of people each year. That helped make 2016 a good year financially and meant we were able to support our sport even more than the year before.

“Now with reforms to racing’s funding, a settled governance structure and a committed partner in ITV, British Racing can kick-on, matter to more people in this country and ensure the sport has the best possible future at all levels, including its grassroots.”