Horse racing is now unprofitable for the bookies, says Paddy Power owner Flutter

I Am Maximus winning the Aintree Grand National this year. Photo: The Jockey Club/Aintree Racecourse.

The owner of Paddy Power has warned that horse-racing has become unprofitable for the gambling giant, and has called for major change as the sport grapples with a shrinking audience and a decline in quality.

Ian Brown, chief executive of the UK and Ireland division of Paddy Power owner Flutter Entertainment, said the gambling firm contributed over £140m last year to racing – through the UK’s horse-race betting levy, sponsorship, marketing spend and media rights.

Source link : https://www.independent.ie/business/irish/horse-racing-is-now-unprofitable-for-the-bookies-says-paddy-power-owner-flutter/a878655325.html

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Publish date : 2024-07-28 01:35:11

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