Horse racing, a 180-year-old sport in Singapore, will come to a halt in 2024

After 180 years of horse racing, Singapore is all set to put an end to its horse-racing legacy in 2024.  The Singapore Turf Club (STC) in Kranji will hold its final race, the 100th Grand Singapore Gold Cup on 5 Oct, 2024. Post this, Singapore will close the city's only race course. 

Singapore's race course is set to be closed after its final horse race in 2024. Post this, it will cease operations in March 2027. The 120-hectare race course will then be handed over to the government for housing purposes. 

The decision to put an end to horse racing in Singapore comes after years of decline in the popularity of the sport. As per sources, spectators dropped by half after Singapore's first casino opened in 2010.

During an interview with CNBC, Jimmy, an avid horserace bettor said, “Young people don’t bet on horses, they go to casinos now." He further added that racing takes place only once a week on Saturdays. 

The decision was also affected by several other factors, such as the rise in demand for housing. It pushed the first-quarter private residential property price index up 11% in 2023 compared to the same period last year.

The COVID-19 pandemic also influenced the Singaporean government's decision. With no horse racing activity taking place in the past few years due to the pandemic, the race course area was completely unutilised.  

Turf Club Chairman, Niam Chiang Meng said, “We are saddened by the decision of the government to close the Club. At the same time, we understand the land needs of Singapore, including housing and other potential uses such as leisure and recreation."  

As per a press release by the Ministry of Finance, around 700 horses will be exported and more than 300 employees will be laid off in phases. Racehorse trainers and owners will also receive support for the exporting of the horses. Contractual obligations will also be honoured for Singapore Turf Club (STC) tenants and livery horse owners. 

In a press release, finance and national development ministries stated that Singapore is a city-state with limited space. The ministries further added that "the government continually reviews its land use plans to meet today's needs while ensuring there is sufficient land for future generations".

The club is located at Farrer Park in central Singapore. It was founded by Scottish merchant William Henry Macleod Read in 1842. In 1999, STC relocated to Kranji in northwestern Singapore. The current racecourse has a five-storey grandstand and can house nearly 30,000 spectators.