Local racing to get financial boost from Government

The local horse racing industry is set to get a financial boost from the Government of Jamaica through the Consolidated Fund. This announcement was revealed to RJR Sports at Tuesday morning's launch of the Betting, Gaming and Lotteries Commission (BGLC) Emancipation raceday which is set for August 1.

The expansion of the jockey's school to include apprentices  from around the Caribbean with the legendary George Hosang as the instructor and the possibility of sending local-bred horses overseas to compete, are few of the new initiatives being considered following the release of over $50 million from the consolidated fund to theBGLC.

According BGLC chairman Clovis Metcalf, this initiative will enable the industry to be optimistic about the future as several areas will see a cash injection towards the growth and expansion of the industry.

“What we want to have is probably a revolving loan fund to encourage new investors to become owners; so put more capital into the racing industry rather than just take from it so we are moving to expand our revenue base,” noted Metcalf.

He also revealed that since the divestment of Caymanas Track Limited to Supreme Ventures Limited, the Jamaica Racing Commission, has seen a much-needed 30 percent increase in revenue.

Metcalfe was speaking at Tuesday's launch of the BG&LC Emancipation Day race meet which will have its 13th staging that will see an increase in purse for the feature event, the BG&LC Trophy, an Open Allowance contest over five-and-a half furlongs.

Fifteen possible starters headed by Chase The Great, Crucial Appeal, 2013 winner Uppa Tune and Poker Star are expected to compete.

The raceday which is set for Tuesday, August 1, is endorsed by the Ministry of Culture, Gender, Entertainment and Sports in collaboration with its Jamaica 55 celebrations.