|Monday, March 02, 2009|
|Picture rights increase revenue for UK racing|
The simulcast service set up by a number of race tracks a couple of years ago to compate with the bookmaker owned simulcast service has seen its revenues increase by 19% in 2008.
According to figures released by TurfTV last week, revenues were up from £30.1m for the year ended 30 November 2007 to £35.9m in the same period last year. Operating profits for the year were £2.9m, compared to a loss of £4.1m the previous year.
The race owned service is still under legal challenge by the bookmakers. The latter also aim to see a reduduction in their levy contributions to racing to compensate for the increased picture costs.