Cliff Williams
LOOKING BACK at past columns, having been writing about the racing industry for nearly two decades, I came across something I authored for a Track & Pools column in September 1989.
This particular column, published over 16 years ago, dealt with the modernisation of the industry starting with the then recently-installed computerised totalisator system.
At that point, the Caymanas plant was already three decades old and the grandstand had its roof literally raised by a strong gust of wind in 1975. This necessitated the installation of unsightly but effective steel girders to support the roof and three decades later, nothing has changed and we still have an interrupted view of the racetrack from the top floor.
Incidentally, the stable area over the years of operation commencing in 1959 had deteriorated to a considerable degree and the landscape had lost its appeal in less than two decades.
LITANY OF WOES
Problems of mosquito infestation, inconsistent garbage collection and other maladies in addition to a country with an economy failing to grow at desirable rate made it easy for many of the principal investors and top professionals to look overseas for opportunities.
It was also clear that the private operators of the racetrack were having a great deal of difficulty making a profitable business out of the promotion of live races and eventually the Government had to step in to rescue the industry from total collapse. I digress, so I will deal with this part of the history at another time.
Getting back to the 1989 column, as I saw it then, the optimism I expressed was based on the assumption that with a completely modern, state-of-the-art totalisator system it was just a simple matter of establishing a comprehensive system of off- track betting facilities islandwide in a captive market backed by a then healthy racing product and profitability was guaranteed.
MISGUIDED DECISION
For the first three years things went along swimmingly with the new tote until a misguided decision to introduce a claiming system turned too much of the racing product into a bit of a farce, with half the purses being virtually given away without the requisite sales turnover.
The promoting company now realises 60 per cent of its cash flow from simulcast betting conducted on racing held outside of Jamaica, which is a clear indication that the local product is struggling to maintain viability.
SOME IMPROVEMENT
Prudent management of the resources by the current board of directors has seen some improvement in the aesthetics of the racing plant, but without a huge injection of capital nothing more than that was ever possible.
Predictions from the 1989 column included a modern grandstand and stable area, the staging of the Caribbean Classic, staging a major invitational race and a breeding industry producing bloodstock capable of competing with anything bred in the Caribbean and a good portion of Latin America as well.
Readers, you can well imagine my extreme disappointment that Trinidad & Tobago and Barbados between them have accomplished the first three before Jamaica, who since 1959 has had a racing product and industry vastly superior to those two territories.
Given the current state of the physical plant, it is clear that in real terms the new investors will be inheriting little or no modern infrastructure and will have to go through an expensive exercise to bring the facilities up to the requisite level to do justice to a 21st century operation.
The level of capital outlay required virtually ensures that satisfactory returns on investment in this venture, no matter how profitable the operation, will not be realised in a hurry.
Still, we have to think that based on the plans tabled by the new investors, the problems of the industry will be just a disturbing memory and will be banished forever to history.
