5-6-2023 (SINGAPORE) Singapore’s horse racing industry will come to an end in October 2024, as the Singapore Turf Club prepares to hand back its site in Kranji to the government for redevelopment by 2027.
The announcement, made jointly by the Ministry of National Development (MND) and Ministry of Finance (MOF) on Monday, stated that the Singapore Turf Club will hold its final race on October 5, 2024, and close its facility by March 2027. The 120-hectare site in Kranji, which houses the Singapore Racecourse, will be repurposed for housing, including public housing, as well as potentially for leisure and recreation.
According to Second Minister for Finance and for National Development Indranee Rajah, the decision to cease horse racing in Singapore was a necessary one due to the increasing demand for land in the country. Over the past decade, spectatorship has significantly declined, with average attendance per race day dropping from 11,000 in 2010 to about 6,000 in 2019. Following the reopening of the Singapore Racecourse in 2022 amidst the COVID-19 pandemic, the average attendance further decreased to approximately 2,600 spectators per race day.
The closure of the Singapore Turf Club will impact the earnings of the Singapore Tote Board, which currently generates around S$400,000 per race, according to Fong Yong Kian, the chief executive of the Tote Board. The Tote Board’s total turnover amounts to S$1.1 billion per year as of 2023. With the decline in horse racing spectatorship, the turnover from races as a percentage of the Tote Board’s total turnover has also halved. However, Singapore Pools will continue to offer betting on overseas horse racing.
Established in 1842, the Singapore Turf Club is the country’s only horse racing club. Niam Chiang Meng, the club’s chairman, expressed sadness over the government’s decision but acknowledged Singapore’s need for land for housing and other potential uses. The club aims to ensure a smooth exit for local horse racing and will work with stakeholders until its final race meeting.
The redevelopment of the racecourse site aligns with Singapore’s long-term land use needs and the plans for the country’s northern region. The Ministry of Finance and Ministry of National Development stated that the land, including its surroundings, will be holistically master planned to meet Singapore’s future requirements. The government has also been studying the development of Woodlands Checkpoint, enhancing Woodlands, and creating a high-tech agri-food cluster in Lim Chu Kang in the northern region.
The decision to reclaim the Kranji site was based on Singapore’s land needs and the decline in spectator numbers. Indranee noted that the 120-hectare area is one of the few places in Singapore with sufficient space to accommodate housing, including public housing. The exact number of public housing units to be developed on the Singapore Turf Club site has not been determined, as it will be part of a wider plan for the northern region.
