Supreme Ventures Racing and Entertainment Limited (SVREL), promoters at Caymanas Park, is asking industry regulator Jamaica Racing Commission (JRC) to revisit the amendments made to Rule 44 (iii) that enforces strict adherence to race start times, with a maximum allowance of five (5) minutes after the published post time.
In a press conference held recently to address the abandonment of two races during the April 27 race meet at Caymanas Park, SVREL Executive Chairman Solomon Sharpe expressed his frustration with the rule and outlined the potential impact it could have on the racing industry in general.
“This rule does not exist in any jurisdiction outside of Jamaica. Enforcing a maximum five-minute allowance for races at Caymanas Park doesn’t factor in the numerous variables that can affect the punctual start of a race and penalizes the entire racing ecosystem when a race is abandoned. Punters, jockeys, grooms, trainers, owner, the promoters and the Government lose out on income whenever a race is abandoned.”
Last year, Caymanas Park contributed over $260 Million in combined taxes to the Government coffers.
The Executive Chairman also made an impassioned plea to the regulators, stakeholders and the general public for support of the growth of the industry. “Horseracing is one of the biggest sports in Jamaica and the potential to export the product and have it become one of Jamaica’s biggest foreign exchange earners. Realising the potential of Caymanas Park will take collaboration on the part of all stakeholders.”
SVREL assumed operations of Caymanas Park in March 2017 after Government divested the property. Since then, it has invested over J$4 Billion in improving the product and has introduced innovations like the Mouttet Mile, that has the biggest purse in the English-speaking Caribbean.