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The Kingdom has taken the lead in the global racing industry by announcing the wealthiest racing season yet. The Saudi Cup meeting, which is known as the world's richest weekend of racing, has just become even more lucrative with a total prize purse of US$37.35 million. This increase in prize money is a testament to the Jockey Club of Saudi Arabia's commitment to the growth of the sport, both domestically and internationally. Not only that, but the Riyadh season will now feature a total of 700 races, including an additional 66 Purebred Arabian races. The total prize money for the entire Riyadh Racing Season 2023/2024 will be an astounding US$59.25 million.
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Dubai racing season at Meydan Racecourse has also been released. The season, beginning in early November (2023) and culminating in early March (2024), will comprise 14 meetings. It will precede the US$ 30.5 million Dubai World Cup meeting at the end of March (2024). The Dubai Racing Club has increased prize money by 27% compared to 2023. The total prize money for the Dubai season is US$13.3 million which means the total prize money for the Dubai season is US$48.3 million.
HRH Prince Bandar Bin Khalid Alfaisal, Chairman of the JCSA, shared his enthusiasm regarding the race and prize money enhancements for this year. He also stressed that the Jockey Club was committed to the growth of racing in Saudi Arabia through its continuous endeavours to bring about a favourable influence on both the local and global racing arena.
“This year’s upgrade in races and increases in prize money across both the Riyadh season and the Saudi Cup bear testament to the continued commitment of the Jockey Club of Saudi Arabia to the development of racing both within The Kingdom and internationally.”
The Jockey Club is constantly expanding its capabilities and resources to meet the growing demands of the racing industry. They have also made infrastructure improvements at the King Abdulaziz Racecourse to enhance the overall experience for both spectators and horses.
Prince Bandar Bin Khalid Alfaisal eagerly welcomed racegoers to the upcoming Riyadh racing season, which promises to be a new and thrilling experience. He also highlighted the upcoming fifth annual Saudi Cup, which has become a highly anticipated event in the racing calendar.
The Taif racing season, held earlier this year was a resounding success, featuring a record number of races. There were 187 contests for local and imported horses, 193 races exclusively for locally bred horses, and 108 races for purebred Arabian horses. The total number of races increased to 486, a significant jump from the 384 races in 2022. The Taif Derby, held in late September 2023, and the Prince Abdullah Al-Faisal Cup were among the highlights of the season. Each Thursday meeting also experienced a 25 percent increase in prize money, further attracting top-notch competitors.
Arab owners have proven to be formidable players in the racing world. They have exhibited their buying power at elite sales events, such as the Tattersalls October Sale, where they purchased over US$80 million worth of bloodstock, accounting for nearly half of the total purchases. They have also made substantial investments in yearling sales in America. This demonstrates the significant financial resources available in the GCC, even though the total population across seven countries is only 56 million people.
In today's racing landscape, owners are selective about the horses they add to their stables. They prefer having a smaller number of elite horses that can compete in the most prestigious races worldwide. Arab owners, in particular, have an insatiable desire for local Group races and are drawn to horses with pedigrees that can secure both iconic global trophies and key regional victories on home turf.
Saudi Arabia is currently experiencing a rapid expansion of horseracing, with major investments in racing facilities, healthcare for horses, and the streamlining of rules and regulations throughout the region. The government's vision of becoming a global hub for games and sports has further fueled this growth. Under the Savvy Games Group Strategy, the Saudi government aims to establish 250 games’ companies, one of which will be in the horse racing sector, by 2030. This activity is aimed at creating over 39,000 jobs and investing a total of US$37.8 billion in the sports industry.
HRH Prince Bandar Bin Khalid Alfaisal believes that the Saudi Cup meeting exemplifies Saudi Arabia's ambitious Vision 2030, which aims to elevate the Kingdom's status and prestige on the international stage. He sees horse racing as a means of racing against the world and showcasing the talent and potential of Saudi Arabia under the leadership of King Salman bin Abdulaziz and Crown Prince Muhammad bin Salman.
While horse racing is the second most-watched sport globally, it holds even greater significance in the GCC due to its cultural and historical value. The region's deep-rooted traditions have fostered a sustained interest in equestrian sports, resulting in a consistent rise in ownership numbers. With increasing disposable incomes, a broader segment of the population in Saudi Arabia is now able to engage in equestrian activities, driving the demand for various riding gear, training services, specialized horse feed, and innovative treatments and services that cater to the specific needs of horses, from nutritional supplements to advanced equine therapies.