THE Association of Irish Racecourses is well advanced with work on an up-to-the-minute report on the financial health of their members and the business in general. How closely the final outcome will align with the findings of the Deloitte report published this week remains to be seen.

Nonetheless, the latest report, launched on Thursday, highlights the importance of the role played by racecourses, dispels some common myths about racecourses being cash rich entities, and in the analysis of the attendances at the meetings and their spending shows that Irish racing is one of the best value sports to attend on the island. The 26 racecourses in Ireland are spread across 17 counties and, according to the report’s authors, “form a critical part of the industry, being the stage on which horses perform and often establish their value as future breeding stock.”