The Jockey Club has announced a 5.2% increase to its revenues resulting in record contribution commitments to British horseracing prize funds of £27.1m for 2018.
The UK horse racing group which stages the Cheltenham Festival and the Randox Heath Grand National Festival also recorded its highest ever operating profits of £44.8m before prize money contributions, up 3.2% from £43.4m in 2016.
This was made possible by impressive revenue figures which reached £201.1m for 2017 up 5.2% from £191.5m in 2016. Growth was accredited to increased revenue in admissions, media, hospitality, and commercial partnerships.
Increased revenue and operating profits in 2016 allowed the Jockey Club to increase its commitments to British Racing’s prize money by £2.1m in 2017 totalling £22.9m an increase of 10.1% from 2016. The commitment will grow further in 2018 to £27.1m as a result of another successful year.
Commenting on the successful results Simon Bazalgette, Group Chief Executive of The Jockey Club, said: “I’m very pleased we were able to make a record financial contribution to British Racing in 2017 as a result of achieving a ninth successive year of commercial growth.
“Looking ahead, we are increasing prize money further in 2018 and we are continuing to invest in the experience we offer to customers and participants, whether that’s recently completing Europe’s largest installation of free public Wi-Fi, further enhancing facilities for racehorse owners and trainers or launching the new Britbet betting service for our racing customers this summer.”