Significant investment has seen Arena Racing Company prize money increase across its 15 racecourses to over £35 million on 2018.
Arena Racing Company (ARC) has increased its investment in prize money with its executive contribution growing from £11.3 million in 2015 to a planned £17.5 million his year – taking the total across its racecourses to over £35 million.
The company said it has helped increase prize money in British racing to record levels, and also worked closely with other stakeholders in the sport and the Government, to extend the levy to remote betting. This aims to see levy yield increase by £20 to £30 million a year.
ARC Chief Executive, Martin Cruddace, said: “ARC is pleased with 2018 prize money levels. In line with the industry approach the significant increases in prize money is at the grassroots level and we look forward to measuring the impact this has on field sizes and ownership in the months and years ahead.”
Despite not having media rights deals in place with leading bookmakers during part of 2017, ARC maintained levels of prize money which had a significant financial impact on the business in the short term.
The company said it is continuing to expand and grow its new media rights model through The Racing Partnership. This new model “makes use of technological advancements” meaning that rights’ holders now have the opportunity to work together on both sale and delivery.
Cruddace said: “We are putting significant energy and investment into our media rights models which we believe offers British Racing the opportunity to safeguard and increase the value of its product, while growing betting on the sport in partnership with betting operators around the world.”