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 - Industry Analysis Chapter
The industry has struggled significantly over the past five years due to stagnant racing attendances and the rising popularity of alternative forms of gambling. As a result, revenue has fallen year to year over this period. Industry participants operate in a unique environment and problems from one service segment can easily be passed on to operators in other segments. The occurrence of EI in August 2007 has also continued to plague the industry over the past five years.
Revenue and profitability
Industry revenue is estimated to fall at an annualised 4.1% over the five years through 2014-15, to reach $1.5 billion. Growth in racing attendances has been very sluggish and has contributed to this decline... purchase to read more