Racecourse Media Group (RMG), which is owned by its participating racecourses, has paid out £117.6 million to its members for 2022. The money was generated from media and data rights, SBC News reports.
This compares to payments of £110 million in 2021, generated by a combination of betting shops, online bookmaker streams, pay TV, mainstream TV, international betting and non-betting distribution.
RMG Chairman Roger Lewis commented, “The RMG model has once again proved to be resilient and reliable – in the face of significant challenges – producing record results, and performing ahead of expectations.” He added, “The results are a testimony and tribute to the vision and dedication of those racecourses who came together and stuck together to create, grow, and develop the RMG business.”
Lewis will step down this year and be succeeded in October by Conor Grant, who was formerly chief executive officer of Flutter U.K. and Ireland.
RMG CEO Martin Stevenson, added, “We believe that innovation is key for the business and racecourses to help grow appeal and engagement with the sport, and provide a platform to deliver growth in license fees to racecourses and the sport in the future.”
Stevenson added, “Beyond purely providing timing, the importance of tracking is that it provides a wealth of real time data that the business can now utilize to develop new products and innovations. These include the roll-out of in-play betting on RMG’s content, currently deployed by BetVictor and William Hill, and with more bookmakers in the pipeline.”
The CEO said he believes that RMG’s Self Betting Terminals (SSBTs) may bring new customers, noting that this same technology has increased the success of retail football wagering.
