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The Singapore Turf Club (STC) announced at a press conference with the Ministry of Finance (MOF) and Ministry of National Development (MND) on Jun. 5, 2023, that all local horse racing in Singapore will cease.

Second Minister for Finance Indranee Rajah said the average attendance per race has dropped significantly in the last decade.

Between 2010 to 2019, the average attendance dropped by about half, from 11,000 to 6,000 per race day, Indranee said.

After reopening race courses in the wake of the pandemic in 2022, the average attendance per race dipped even lower to 2,600.

STC staff retrenched

With the closure of STC, its 350 staff will be retrenched in phases, with the first phase in about 16 months, said MOF and MND in a joint statement.

The staff will receive retrenchment packages aligned with the Ministry of Manpower's regulations.

STC will also provide transition support to retrenched workers, including counselling, job placement assistance, personal career guidance, and skills training courses to help them find new employment.

Racehorse owners and trainers will also be offered support for horse maintenance and exportation, said the two ministries.

Affected stakeholders will have their existing contractual obligations honoured by STC.

In addition, the government will give timely updates on the land use plan to ensure affected stakeholders have enough time to make the necessary arrangements.

Declining interest

Indranee also shared that this trend of declining interest in horse racing is not confined to Singapore.

She cited an article from The Economist detailing the declining interest in horse racing in the U.K.

A significant aspect to the decline of the sport in the U.K. is the 11 per cent drop in prize money between 2018 and 2021.

Another article by The Economist reported that the sport in the U.S. has also declined for decades.

It shared that more than 40 tracks have closed since 2000.

In addition, the number of races has also declined, with 33,453 races being held in 2022.

In comparison, there were more than 74,000 races held in 1989.

Chief executive of the Singapore Totalisator Board, Fong Yong Kian, said the decline in interest in horse racing started in 2010 with the opening of the casinos.

He also attributed it to the rise of other sports people would bet on, like Formula 1 and football.

"The club will work with the government to ensure a well-managed exit for local horse racing," said STC.

Background

The last scheduled race will take place in October 2024, largely driven by the sharp decline in in-person attendance at horse races.

STC will close its facilities by March 2027.

STC's 120 hectares of land will be used for future land needs.

The horse race in Singapore will continue to run until Oct. 5, 2024.

The last race will feature the 100th Grand Singapore Gold Cup.

History of horse racing in Singapore

The STC was founded in 1842 as the Singapore Sporting Club and was the first racing club established in Southeast Asia.

In 1843, the first race was held at the Farrer Park Racecourse.

In 1924, the Singapore Sporting Club changed its name to STC.

On Oct. 18, 1924, the first Singapore Gold Cup was held.

STC then moved to the Bukit Timah Racecourse in 1933.

Today, STC operates the Singapore Racecourse in Kranji and holds 550 races per year.

STC president and chief executive Irene Lim said STC is "extremely proud to have been the home of horse racing excellence".

"Singapore Turf Club is extremely proud to have been the home of horse racing for nearly two centuries."

Top photos via Singapore Turf Club & Fiona Tan