CLiff Williams, Contributor
RACING YEAR 2005 will probably go down as the most significant in three decades with the decision to return the promotion of live racing to private investors.
In fact, this has been the most positive recent development for an industry desperately in need of modernisation as the Government of Jamaica, owners of the commercial operations, had not seen it fit prior to now to invest development capital or allow privatisation for the period.
The other important decision by the Government involves the installation of a regime of Gross Profit Tax for the bookmakers and the promoters of live racing similar to what has been implemented successfully in the United Kingdom, moving away from levies on gross sales.
Although this has hit a snag with the implementation delayed because the initial proposed rates have been deemed too onerous, it is expected that once an agreement can be reached on the Government's entitlement it will enhance the sales turnover of the licensed operators, with the punters getting better value for money.
It is really quite extraordinary that as an industry, where on the commercial side it is a business with a predictable cash flow because of its monopoly status, it could be allowed to remain in a primitive state of under-development for more than a quarter of a century.
During the ruling tenure of both political parties there has been a virtual common non-recognition of its social and economic value, and one has to wonder why our Governments have seemingly behaved in a manner suggesting that Jamaicans should not enjoy the same facilities existing elsewhere in the civilised modern world.
Therefore, in terms of impact in 2005, the decision to divest and the pending implementation of the Gross Profit Tax regime, are the bases on which industry players can have some confidence that the industry has a secure future, bringing to an end a long period of doubt and insecurity.
What needs to happen now is swift implementation and execution of these plans as the industry has been operating in an atmosphere of uncertainty for far too long.
ONLY STAR
As far as the racing itself is concerned, if the truth be told, 2005 could hardly be described as one of the more memorable racing years in Jamaica.
Derby, St. Leger, Governor's Cup and Superstakes winner Miracle Man, the leading stakes earner was the only local-bred star to emerge and should cop the majority of votes for Horse-of-the-Year.
It was also 2005 where the decision, taken two years ago, to make the importation of horses less expensive should have commenced having a serious positive impact on the quality of the racing product. Sadly, nothing of the sort has materialised and too many of these cheap imports are singularly lacking in talent.
Consequently two local-bred champions, A King Is Born and Distinctly Irish, for the most part continued their dominance despite giving away significant weight to all of those reasonably good importees in many of the important races.
JOCKEYS' CHAMPIONSHIP
It was left to the jockeys' championship to provide some excitement with defending champion Trevor Simpson and Trinidadian Brian Harding, riding on a retainer contract for a major barn, having a rare battle that was only settled with three racedays to go with a four-timer followed by three on the penultimate card, allowing the visiting rider to add the Caymanas title to the seven already won in his native land.
Speaking of riders, only Paul Francis and to a lesser extent Dane Nelson of the young brigade continued to cement their positions as likely future champions, but in the category of trainers none of the younger practitioners made the kind of headway to suggest that there is likely to be a challenge to the now traditional status quo any time soon, with Wayne Dacosta taking a fourth lien on the title.
The five principal owners, Alexander Haber, Elias Haloute, Richard Azan, Howard Hamilton and Joseph Duany had a closely interesting battle for champion-ship honours with no new investor in the ownership of bloodstock for racing emerging, and this has been the case for at least the last five years.
There has been some improvement in the levels of investment in the breeding industry but with only around 172 lots making it into the annual Yearling Sales catalogue, this is still just under 60 per cent of what used to be the norm a decade or so ago.
The breeders' statistics was led once again by Orange Valley, HAM Stables and Henry W. Jaghai, with all three nearly doubling the earnings of fourth place Joseph Duany. Orange Valley's Royal Minister once again proved to be the leading stallion with his progenies earning in excess of $30 million.
As far as the punters are concerned, based on anecdotal evidence, they are unhappy with the general quality of the local racing product, but are seemingly fairly happy with the overall improvement in service from Caymanas Track Limited, the sole promoters of live racing, and the bookmaking industry.
Interest in wagering on races held outside of Jamaica through simulcast has generally grown exponentially over the last few years and in 2005 in particular with the promoting company now enjoying 60 per cent of its sales turnover from this source and the bookmakers seeing renewed interest in British racing.
ROUTINE DECISIONS
For the administrators of the regulatory agencies, the Jamaica Racing Commission and the Betting Gaming & Lotteries Commission, there were no decisions of any importance to make and the functioning, as far as operations were concerned, was mainly routine whilst the board, management and staff of the promoting continued to do an excellent job in what can only be described as a holding position,with divestment remaining under discussion for an inordinate length of time.
Obviously, the high point of the year was the Government's decisions to divest and also to implement a Gross Profit Tax regime on the commercial side of the industry.
The low point was the failure of the attempts to revive Jamaica's participation in the Caribbean Classic when Miracle Man did not make it past quarantine in Florida en route to contest the event in Puerto Rico.
This column, appearing now for almost a decade years, has routinely named a racing Personality-of-the-Year based on certain criteria, chief of which is the person's impact on the industry.
It is very easy this year to select owner and trainer Richard Azan as he is one of the principal executives in Caymanas Entertainment Limited, the company that bid successfully for the takeover of the Caymanas operations.
Azan heads this group of investors and therefore has to be recognised as the most influential member of the racing industry fraternity in 2005.
From this column here is a wish for a happy and prosperous 2006 for readers and industry players.
