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SBD Global/April 23, 2013/Finance

Singapore's Horseracing Scene Making Slow Comeback From Brink Of Extinction

Singapore’s "once moribund horseracing scene is staging a comeback," according to Jeremy Grant of the FINANCIAL TIMES. For years, attendance at Singapore’s only racecourse "was thin as punters were put off by modest prize money and the low quality of the race horses." The arrival of casinos in Singapore "dealt a further blow." However, efforts by the Singapore Turf Club to attract top-flight breeders and trainers "have started to pay off." Racehorse ownership is "growing as Singapore’s low-tax environment and thriving financial sector has created a new class of wealthy individuals with plenty of disposable income." Int'l Racing Bureau Managing Dir Alastair Donald said, "The racing is definitely on the up in terms of its quality and acceptance." Premier Racing Partnerships Managing Dir Wade Burridge, whose firm offers part-ownership in race horses, said that by gradually increasing prize money and focusing on better quality horses, Singapore "is now back in the game." Burridge: "Customer confidence has come back and it’s one of the cleanest racing businesses in the world" (FT, 4/22).
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