Huw John, Cardiff
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RMG chairman Roger Lewis is staying within the position for an additional 12 months
Huw John, Cardiff
By Invoice Barber, Trade editor
Racecourse Media Group (RMG) is predicting report outcomes for its racecourse shareholders this 12 months as the corporate revealed chairman Roger Lewis was staying on for an additional 12 months to assist the transition to his successor.
Lewis has been on the RMG board for greater than ten years throughout which period RMG has elevated licence charges and dividend funds to its racecourses from £45 million to greater than £110m in 2021.
Final 12 months’s funds, earned via racecourses’ media and knowledge rights, exceeded pre-Covid ranges.
Lewis stated: “RMG is in nice form and it’s an honour to be requested to proceed to chair the corporate. Now we have a robust board and an impressive crew of executives, led by CEO Martin Stevenson, who collectively have delivered in spectacular trend for our racecourses and certainly for the game of racing.
“We’re on monitor to exceed our report outcomes of final 12 months and we pay tribute to everybody in racing, and provides due to our racecourses, for permitting RMG to handle their media and knowledge rights internationally.”
The information might be particularly welcome given the strain on racecourse earnings attributable to the rising value of residing and weakening revenues from bookmakers attributable to points together with affordability measures.
title=”Goodwood: one among 34 programs beneath the RMG umbrella organisation with an curiosity in Racing TV”
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Goodwood: one among 34 programs beneath the RMG umbrella organisation with an curiosity in Racing TV
RMG is the umbrella organisation for the 34 programs which maintain an curiosity in Racing TV, together with tracks beneath the Jockey Membership banner, Goodwood, Newbury and York, and pays 100 per cent of its working revenue again to these racecourses.
Ascot, Chester and Bangor are additionally a part of the group in the case of content material broadcast in betting retailers, earnings from which is likely one of the predominant areas from which RMG’s funds are derived.
Different areas embrace Racing TV, ‘Watch & Wager’ streams via bookmakers’ digital platforms, the terrestrial tv settlement with ITV, worldwide gross sales and pre-race knowledge.
Lewis joined the RMG board in 2012 and was appointed chairman in January 2019. He was on account of step down this 12 months however has been requested by the board to increase his tenure. A successor might be appointed in 2023.
Final 12 months RMG agreed British racecourse licence extensions for audio-visual and knowledge rights for a brand new five-year time period till the top of 2028, whereas it was introduced in October that HRI’s media rights committee had chosen SIS and RMG as its most popular companions for Irish racing’s subsequent five-year deal, which would come with Racing TV retaining direct-to-home tv rights till at the very least 2029.
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Irish racing set to remain on Racing TV till at the very least 2029
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