Organization Name: Minnesota Racehorse Engagement Project
Website: RacehorseMinnesota.com Twitter: @MNRacehorse
What industry/sector do you identify with? Horse Racing, Breeding, Aftercare, Agriculture
Number of employees, member patrons, growers, shareholders etc. in Minnesota: 2,000+ Thoroughbred Racehorse Owners; MNREP Staff 3
What about your organization or company’s work are you most proud of? In our organization’s short existence (since 2019), we have welcomed over 200 new Thoroughbred racehorse owners to Minnesota. We have also established a new aftercare network that has taken in 60 plus retired racehorses and placed them into new careers with horse lovers across the state.
Please highlight key trends affecting your industry? There has been a recent explosion of new opportunities for people to enjoy racehorse ownership via larger partnerships that offer ownership for as little as $100. This has brought in several people who may have had little interest in the gaming aspect of horseracing, but love horses. Additionally, there has been a rededication to the lives of these Thoroughbreds after they are done racing. These equine athletes are filling demands in traditional equestrian sports, newly formed impactful mental health programs and as welcomed personal riding companions.
Talk about the key opportunities & challenges facing your business over the next 5 years. Increased competition from casino gaming, sports betting, lottery games, and charitable gaming has reduced the amount of prize money (purses) these horses compete for. These lower purses reduce the number of horses in our state to race and later become companion animals. There has also been a downward trend in breeding Thoroughbreds in Minnesota from over 300 foals born each year in 2015 to 125 in 2020. This trend impacts breeding farms, foaling facilities, veterinary services, and all the agricultural products and services needed to support these beautiful equines.