GBI Racing confirms sponsorship and speaker participation in ‘Game ON’

A once thriving industry in Ukraine with long-lasting traditions, horse racing and horse breeding has been in decline for the past two decades, mostly due to critical lack of State funding. The only two currently operating racecourses in Kyiv and Odesa survive on sheer enthusiasm of their staff and charitable donations. The industry has seen an expedited decline particularly after 2009, when tote betting, which was the primary source of its funding and racecourse development, has been banned as a form of gambling.

Proceeds and tax levies from sports betting, as a common practice of funding the development of racecourses and the horse racing sport worldwide, is an approach which Game ON will aim to showcase through the presentation of GBI Racing’s international expertise. The Conference will also serve as a unique platform for productive dialog and experience-sharing between all parties which will ultimately contribute to the revival of the best horse racing and horse breeding traditions in Ukraine – from legislators and government officials, to race operators, sports betting companies and professional betting associations.

Simon Fraser, Head of International Streaming at GBI Racing noted: “Horseracing is a worldwide sport, with betting turnover of over €95billion annually. Horseracing can be revitalized in Ukraine by a well-regulated betting industry. It would add value to betting organizations in Ukraine, providing over 150,000 live races each year, with access to the 24-hour live content for the betting shops 12 months of the year.”

Glyn Thomas, co-owner of ACE Publishing Ltd., organizer of Game ON, further commented: “The world over, racecourses and horse breeding are considered substantial source of employment and recognised for their contribution to the national budget. In Great Britain alone 59 racecourses are attended annually by an estimated 5.6 million spectators enjoying the sport and betting. Over 1,200 fixtures a year provide direct and indirect employment for some 85,000 people, and, in parallel, justify existence of 300 full-time stud farms and over 3,500 part-time breeders in Britain. Annual tax contribution by British racing is estimated at over £275 million with the total economic impact of £3.45 billion. With modern legislation and international investment, the industry has the same potential in Ukraine and can provide a noticeable boost to the country’s economy.”