Horse Race Exports
According to the Korean Racing Association (KRA), 10 Korean horse races were broadcast live in Australia on March 25, posting 740 million won (US$645,161) in sales on the day. Two days later on the 27th, another three horse races were exported and recorded 130 million won (US$113,339) in sales. The KRA exported 13 horse races for two days and turned over 900 million won (US$784,656). The figure is almost twice as much sales as Singapore, in which Korean races have already entered, based on average sales.
The Australian horse racing market currently ranks second in the world in terms of horse race ticket sales after Japan. Its annual sales amount to 19 trillion won (US$16.56 billion). The figure is much higher than 7.7 trillion won (US$6.71 billion) in Korea.
Korean horse races received an enthusiastic response in Australia. Currently, Korean horse races are broadcast via Sky Racing, an Australian broadcaster primarily telecasting live horse racing throughout the country, and its viewers watch a live broadcast of races from more than 15 countries around the world and bet on games.
An official from the KRA said, “We’ve received positive feedbacks in various ways, including Korean race, export management and broadcast, from a local partner. Sales in Australia have come close to the figure in Singapore, in which the KRA has imported and exported races for 10 years, and we have high expectations for future results.”
Meanwhile, the KRA has recently signed a contract extension for race exports with its prime partner in Singapore. With the latest agreement, the two will retain a long-term partnership from 2013 to 2018. Accordingly, the KRA will export 100 horse races to three countries – Malaysia, Australia and Singapore.