Singapore racing’s worst kept secret was confirmed on Monday with the Singapore Turf Club set to close its doors by March 2027, with the final race meeting to take place in October 2024.
Rumors of the closure had been swirling around local racing circles for weeks before Singapore’s Ministry of Finance and Ministry of National Development released a joint statement on Monday in which they cited a need to optimize land resources to meet the needs of locals.
“Singapore is a city-state with limited land,” the statement said. “The Government continually reviews its land use plans to meet today’s needs while ensuring there is sufficient land for future generations. Local horse racing has also experienced declining spectatorship over the years.
“The Government has decided that redeveloping the Singapore Racecourse site will allow for the land occupied by the racecourse (spanning some 120 hectares) and its surroundings to be holistically master planned to better meet our future land use needs.”
According to the ministries, the Singapore racecourse site will be used for housing, including public housing, while the Ministry of National Development is also studying other potential uses including leisure and recreation. The land will be returned to the government in 2027.
The ministries said they will work with the Tote Board and Singapore Turf Club, as well as other relevant stakeholders and agencies, to ensure a smooth transition and closure of Singapore Turf Club.
Retrenchments are expected to take place in phases, starting in 16 months from now, with transition support and job placement assistance provided, while racehorse trainers and owners will receive support for horse maintenance and exportation, the ministries added.
“For other affected stakeholders, such as STC tenants and livery horse owners, STC will continue to honour its existing contractual obligations,” it explained. “The Government will also provide a timely update on the land use plans, to ensure sufficient time for affected stakeholders to make the necessary arrangements.”
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