Odds On Racing - Harness Racing

Racing in here may be Declining...But China is Just Getting Started

July 24, 2009

Amid a terrible economy, California's $5 billion horse racing industry is on the brink of losing more tracks. Reflecting a nationwide trend, a once recession-proof business has been hit by a double-digit drop in wagering. Meanwhile, track property is coveted by developers, adding pressure to cities considering other uses for these sports landmarks.

The situation in China, however, is markedly different, where once a lively horse racing industry was discontinued during the Cultural Revolution. Now its changing fast.The Chinese government has licensed five companies to build and manage race courses in various cities throughout China. The five are also authorized to run regular competitive races and other equestrian events...but public gambling is still not allowed in China.

However, it is widely expected that the gambling ban on horseracing will be eased over the next several years - giving any one or all of the five companies who have been able to build and maintain suitable horseracing infrastructure, a huge boost to their business.

Various unconfirmed reports from China seem to suggest that only one or two of the five licensed companies have been able to keep their heads above water. The rest particularly those who had built their business revenue model dependant on gaming have all become dormant.

RS Management Limited – Global General Manages for Richman’s International Millionaire’s Clubs had been studying the China horseracing scene over the last few years. Based on its assessment of the phenomenal opportunities for horseracing in China, RSM has put together a team of some of the world’s top race course designers, trainers, bloodstock agents, veterinarians etc.

RSM has also quietly seized the opportunity to acquire controlling equity interests in a few of the better located Chinese companies licensed to run horseracing in China and long term racing rights in the others - effectively being able to deliver China wide horseracing capabilities.

RSM’s objective is to integrate China wide horseracing benefits with its Richman’s - ONE Club, Worldwide Benefits concept. This integration will allow Richman’s members, from around the world, to import, own, train and race their horses in China - probably the worlds largest and most profitable market for horseracing.