A decision by the board of Horse Racing Ireland (HRI) to make the first allocation of grants, totalling €13.5 million, to eight racecourses was welcomed yesterday by the Minister for Arts, Sports and Tourism, Mr O'Donoghue.
The grant was made under the Capital Development Fund which was set up under the HRI Strategic Plan for the industry 2003-2007.
Mr O'Donoghue said that on launching Horse Racing Ireland's strategic plan earlier this year, he had emphasised the need for continued investment in new and upgraded racecourse facilities.
"I am happy to welcome the first allocation of funding for these works, which will deliver further comfortable, modern and efficient facilities for racegoers to enjoy," he said.
Horse racing in Ireland was flourishing at present. Attendances were almost 10 per cent up on last year and by the end of September over one million people would have attended Irish race meetings. Tote and bookmakers betting were showing corresponding doubledigit growth, he said, with the Galway and Listowel Festivals both returning record figures.
"And as we can see, racecourses continue to invest in their facilities, improving the racing product for all participants in the sport," the Minister said.