According to UK newspaper the Guardian, The Jockey Club, who owns and manages 14 racecourses in the UK, announced yesterday a record operating profit of £18.8 million at its courses in 2008.

The figure is up from £10.9 million in 2007. The Jockey Club emphasized that it is in a better position to increase profits after it handed over its regulatory function of the sport to the British Horseracing Authority in 2006.

The Jockey Club intends to re-invest its profits back into the sport.

Although profits were up, attendances declined from 1.83 million in 2007 to 1.78 million in 2008, despite an increase in fixtures.