Industry Analysis & Industry Trends
Horseraces and greyhound races are fixtures of Australia's sporting culture. Horseracing is the only sport that warrants public holidays in various states, culminating in November's Melbourne Cup, the jewel of a $1.5 billion industry. However, industry participants have faced an array of challenges over the past five years. In August 2007, equine influenza (EI) threatened thoroughbred horseracing in Queensland and New South Wales, where several races were called off due to heavy quarantine restrictions. Although EI occurred outside the current five-year period, its after-effects have had a lasting impact on the industry.
Stagnant racing attendances and a rising interest in alternative forms of gambling have also affected the industry over the past five years... purchase to read more
Industry Report - Starting a New Business Chapter
Overall barriers to entry in the industry are medium and this level has remained steady over the past five years. However, entry barriers can vary significantly depending on the main services that participants provide. For example, there are few entry barriers to become an animal trainer, although principal racing authorities or controlling bodies must register any new trainers. Greater barriers exist for race club operators, as racing authorities must approve the new club, and acquiring the land necessary to establish racetracks can also be extremely difficult. In addition, prospective race clubs may struggle to provide large enough prize money incentives to attract prestigious owners and trainers... purchase to read more