Horses ridden by work jockeys during the Singapore Turf Club racing session on May 15, 2014 in Singapore.
Neville Hopwood | Getty Images Sports | Getty Images
After years of putting their faith and hard cash on various horses, seasoned gamblers will soon place their final bets and say goodbye to Singapore’s only racecourse.
Singapore Turf Club announced on Monday that it will hold its last race in October 2024, closing a 180-year-old chapter of horse racing in the city-state.
“We are saddened by the government’s decision to close the club. At the same time, we understand the needs of Singapore, including housing and other potential uses such as leisure and recreation,” Niam Chiang Meng, Chairman of the Turf Club. stated in a press release. He also noted that the racecourse has seen a decline in personal attendance over the past decade.
Demand for housing in Singapore is soaring and pushing Price of private residential property for the first quarter of 2023 the index rose by 11% compared to the same period last year.
“Young people don’t bet on horses, they go to casinos now,” 67-year-old Jimmy, an avid horse racing bettor from Singapore, told CNBC, noting that the races are held only once a week on Saturdays and at 30-minute intervals. .
A general view of the Kranji Racecourse paddock on May 25, 2019 in Singapore. The Singapore Turf Club announced on Monday that it will hold its final race in October 2024, closing an 18-year-old chapter in horse racing.
Lo Chun Kit | Getty Images Sports | Getty Images
That frequency wouldn’t be fast enough for some punters when compared to the speed and convenience offered by 24/7 casinos, he suggested.
Singapore’s only horse racing club was founded in 1842 and has a grandstand capacity of 30,000 and operates from three locations starting at Farrer Park, then Bukit Timah and then Kranji. The current racing club currently occupies 120 hectares of land in Kranj.
And it was in these stands that Jimmy met his peers.
“Of course I lost more money than I won,” he laughed. “But I made some good friends there.
Asked who his favorite horse was, Jimmy quipped: “If I say it out loud, it won’t win again!” it alludes to a betting superstition that suggests sharing the horse you’ve bet on will reduce your chances of winning.
Jockeys on horses charge from the starting point of the Singapore Airlines International Cup race at the Singapore Turf Club on May 11, 2002
Roslan Rahman | Afp | Getty Images
Around 700 horses will export and have more than 300 employees they release in stagesThis follows from the press release of the Ministry of Finance. Trainers and owners of racehorses will also receive support to export horses, the MoF said.
Contractual obligations will also be honored for Singapore Turf Club lessees and livery horse owners. A livery stable is a place where horse owners pay a fee to keep their horses.
Singaporean real estate agent Travis Low said he was saddened by the racetrack’s closure.
“It goes back to our British roots. If you look at Hong Kong, Australia and the UK, they all have a horse racing heritage,” Low said.
“But I understand the floor space it took up.