GARY Peart, chairman of the regulatory agency of betting in Jamaica, the Betting, Gaming and Lotteries Commission (BG&LC), is firm in his belief that the introduction of the lucrative Diamond Mile Race Day at Caymanas Park is going to be a significant thrust in returning the sport of horse racing to the glory days of old. He also proffered the view that the Diamond Mile Race Day will generate more revenue for Caymanas Track Limited (CTL), the promoter of local racing in Jamaica.

“Fundamentally, I think that it (Diamond Mile Race Day) is something that should have happened a long time ago but the time is now, and the main reason why we are putting on a race day like the Diamond Mile Race Day is because we feel that the horse racing product can be lifted. We are going to usher in a new era, a renaissance of horse racing in Jamaica,” Peart told the Complete Racing Guide.

“Based on how we have structured the Diamond Mile, we feel that the event will get a lot of new punters to come out to the track. The Diamond Mile showcases the positives surrounding horse racing and it is a major attempt to attract new revenue for CTL.

“If people are going to try to win the race, we expect them to spend more money in bringing in better horses, and we feel it can be a stimulus to help revitalise the racing industry,” he said.

“Why now? Because all the different aspects required to do it have come together. What you have is the government through its regulator believing that this stimulus can be achieved. The BG&LC was able to identify the funding; CTL has the stage to put something of this nature and so it is done, we are going to have the Diamond Mile Race Day at Caymanas Park,” Peart said with obvious glee in his eyes.

The lucrative Diamond Mile Race Day is planned for December 5 with the main feature being the running of the inaugural Diamond Mile which carries a purse of US$115,000 (J$13.5 million). The race is slated for native-bred and imported three-year-olds and upwards going over a mile or 1,600 metres.

The other races for the day feature purses of not less than $1 million, which makes the race day the richest locally and in the Caribbean.

Peart said that he expects the spending records to tumble on the day.

“I am expecting a record turnout of racing fans and others; I am expecting a record spend on the day; I am expecting a very, very good day and I am expecting that people will come out and see racing as what it should be and that they will come again,” he declared.