Industry Analysis & Industry Trends
Horse racing and greyhound racing are fixtures of Australian sporting culture. Horse racing is the only sport in Australia's athletically obsessed culture that warrants public holidays in various states, culminating in November's Melbourne Cup as the jewel of a $1.6 billion industry.
However, horse racing has been facing challenges from all angles over the past five years. In 2007-08, equine influenza (EI) hammered horse racing in Queensland and New South Wales, where a number of races were called off due to heavy quarantine restrictions. After months on the sidelines, racing returned to normal. By March 2008, Australia was declared EI-free. Consequently, the industry began to recover... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The industry is in a stage of decline, as the falling interest in racing, low returns and prize money continues to haunt organisations involved. These has been due in large part to declining racecourse attendances, and to growing non-racing gambling opportunities. The crash caused by EI has helped further this decline. As a result of these negative circumstances, consolidation is common, as smaller courses close due to an inability to generate sufficient profit.
There are also concerns about the quality of horses available to run in coming years. The breeding and transport restrictions necessitated by EI mean that the quality of thoroughbred foals was poor for a couple of years, potentially hurting attendance... purchase to read more