KINGSTON, Jamaica - Executive chairman of Supreme Ventures Racing and Entertainment Limited (SVREL) Solomon Sharpe says the local promoter of thoroughbred racing is looking forward to the return of live racing at Caymanas Park following the cancellation of last weekend’s race meetings.
The race days on Saturday, July 15 and Sunday, July 16 were cancelled after stakeholders rejected a $27-million purse increase given by SVREL. Stakeholders first opposed the deal because they claimed SVREL generated $6.2 billion last year, despite Sharpe claiming $5.3 billion in revenue.
The Betting, Gaming and Lotteries Commission (BGLC) after several checks reported that the $5.3-billion revenue generated by SVREL was correct.
Despite promoting only six races, Sharpe anticipates a very successful day of racing at Caymanas Park.
“We welcome the return of live horse racing at Caymanas Park. The connections have been preparing their horses, and it is in everyone’s best interest to get them [horses] out on the racetrack,” Sharpe said.
“It is too early to make any projection on revenues, as the punters will decide that. However, it’s six very competitive races, and I am sure they [punters] will enjoy and appreciate the sportsmanship,” the chairman added.
Sharpe added that his organisation always acts in the best interests of the industry because the only winners are those who want the sport to continue.
“Horse racing will be the big winner here. The persons in the ecosystem will get a chance to earn, and we continue to facilitate the passion of many Jamaicans. Without live racing, persons would have to seek other earning opportunities,” Sharpe said.
“There are many different cost components to hosting a race meet. It takes billions to run the racetrack as the costs for a race meet aren’t only on the day; the preparation of the racetrack is an ongoing cost. This will be a big win for the punters and persons who want the game to continue,” Sharpe stated.
4 Responses
As a punter i am saying thank you Mr. Sharpe. You need to let the united racehorse trainers association know how much it takes to operate caymanas park. They are behaving like preschoolers, so maybe you will have to treat them like one. You need to break it down more easier, let them know how much is collected as Revenue then minus amount paid out to punters (winnings) then minus amount for purses then minus amount for overheads but what is leave cannot meet your overheads so in the short term what you should be doing is either cutting back on the paid out to punters or cut back on the amount for purses.
Couldn't svl added four of Gulfstream stimulcast races to our program to support what's in show today lots of punters buy Gulfstream races
Think the simulcast is a given at the track and the offtrack betting parlours. Thanks for reading and commenting.
That was done before , yes many years ago I think it was in the 1990's so I see no reason why it could not be done. Mix the local racing with maybe three or four other races to compliment our race card so we can have our usual pick 9 and place pot 8