Cynics on social media accused Greg Bortz of getting bought himself a “sweetheart deal” when he and accomplice Hollywoodbets acquired Kenilworth Racing. He responded by posting his cellphone quantity and welcoming one and all to be part of him within the enterprise – “so they can share in this sweetheart deal”.
There had been no takers, which says every little thing about what a tricky job horse proprietor Bortz and Hollywoodbets boss Owen Heffer have taken on – no much less a process than saving Cape Town horse racing from extinction.
“Without intervention, Cape racing would have fallen over,” says Bortz in a current interview with Cape Racing, which deserves a far wider viewers than it has had.
“The patient wasn’t critical. The patient was dead!” he says of the state of the sport beneath Table Mountain.
“It’s no sweetheart deal, it’s a rescue package. If all goes well and to plan, some time in the future we may get back some, or even all, our money. But making lots of money on our money is not going to happen!” he declares.
Why trouble, then? “Owen and I are doing it for the best of reasons. We are both just sick for horse racing.”
Increased stakes
On 5 July, the Thoroughbred Horseracing Trust and Kenilworth Racing (KR) introduced a deal was being carried out to promote KR to Bortz’s GMB Investments and Durban-based worldwide bookmaking agency Hollywoodbets. The complicated deal is value R330-million, with a lot of the money injection going to repay debt and save KR from as monetary collapse.
Bortz is now government chairman of KR, which manages racing in Western Cape, whereas well-known former bloodstock agent Justin Vermaak has been appointed director of racing operations.
In the Cape Racing interview, Bortz says his precedence is to take all steps potential to develop the native horse inhabitants. From this, different enhancements will move.
The first of those steps can be to increase the prize cash on provide.
“Hollywoodbets and I are dipping into our pockets to increase stakes – not just a little bit, but materially. We want to make it attractive for owners around the country to come and race their horses in the Cape,” he explains.
A subsequent step can be to “get a lot smarter with our programme”. Bortz agrees with the long-held view of trainers that there will not be sufficient alternatives for horses of all calibre in Western Cape. “We are going to be holding lots more races for lower-rated horses, widening the appeal, adding to the programme – without taking anything away from our offering for the best horses.”
‘Festivalising’ the calendar
Bortz says the horse inhabitants within the Cape has fallen considerably lately and this has had unfavorable knock-on results. Fewer fixtures and smaller subject sizes means smaller betting turnover, which in flip means much less cash out there for stakes, much less for house owners and trainers and so forth.
In a separate interview final week, Vermaak mentioned he had deliberate a package deal of incentives to “weaponise” Cape trainers to draw in additional house owners and develop the scale of their yards.
Apart from improved stakes, a part of this weapons package deal is dramatically bettering the racing “experience” for house owners. This will contain “festivalising” the racing calendar, amongst different issues.
Bortz says rescuing a failing enterprise requires two issues: slicing prices and rising income.
On the cost-cutting entrance, he says KR has “too many properties and facilities” and he’s presently working with the likes of property firms on a better association of belongings.
In addition to promoting off some properties, the corporate can be spending cash on bettering others – together with the “tired old lady” Kenilworth Racecourse.
Bortz addressed a packed assembly of Cape Town trainers final week, outlining his imaginative and prescient, and the response was universally constructive and enthusiastic.
But the person who fell in love with racing whereas rising up in Durban – earlier than making his fortune in non-public fairness funding within the US –is nicely conscious of the challenges that lie forward.
“Talk is cheap. But Hollywood and my commitment is significant. Failing is something we cannot and will not contemplate.”
