Gildernew announces boost for Horse Racing Fund

Minister Michelle Gildernew MLA has today announced her decision to increase the annual contribution bookmakers are required to make to the Horse Racing Fund from £1,123 to £2,000 per year.

The Horse Racing Fund (HRF) which is administered by DARD, provides for financial support for the Downpatrick and Down Royal Racecourses, as laid down in The Horse Racing (Northern Ireland) Order 1990. The value of HRF, and required levy, is reviewed on a regular basis.

Announcing the HRF Fund increase, the Minister said: “After direct negotiations between the racecourses and bookmakers, agreement was reached to increase the HRF payment for ‘off course’ bookmakers, for a five year period.

“The additional money, which will now be available under the HRF Fund will provide a welcome boost, investing an extra £300,000 in the sector annually. I have no doubt this will prove beneficial to our Horse Racing industry.”

The proposal will increase the HRF fund from a current figure of some £394,000 per annum to £690,000 approximately and the fund will be used for approved expenditure under Capital, Security and Technical, Prize Money and Health and Safety.

Notes to editors:

1. The Horse Racing Fund (HRF) which is administered by DARD provides for financial support for two racecourses Downpatrick and Down Royal Racecourses as laid down in The Horse Racing (Northern Ireland) Order 1990. The Order requires that persons who intend to apply for bookmakers or bookmaking office licences make an annual contribution to the fund as determined by the Department.
2. The value of HRF, and required levy, is reviewed on a regular basis. On this occasion after direct negotiations between the racecourses and bookmakers agreement was reached to increase the HRF payment for “off course” or bookmaker offices from £1,123 to £2,000 per annum for a five year period.
3. An eight week consultation was carried out in late 2009. The small number of responses received and the fact that only two were against the proposals would suggest that the industry is generally content.
4. The Department of Finance and Personnel has approved the agreement.
5. All media queries should be directed to the DARD Press office on 028 9052 4619. Out of office hours please contact the duty press officer via pager number 07699 715 440 and your call will be returned.