Philadelphia, PA - American businessman John Stewart says he is eager to keep growing his horse racing operations after a remarkable first year in the sport.
His Resolute Racing organisation has developed rapidly over the past 12 months, and now boasts more than 200 horses in training, racing and breeding. Stewart has also broadened his horizons in the Australian market, and has confirmed he will step up his involvement there in 2025.
The well-established sports betting infrastructure makes Australia a tempting proposition for shrewd owners and Stewart is eager to capitalise. He believes the United States should follow Australia’s lead by forging stronger links with the gambling industry to boost finances in the sport.
“Horseplayers have enjoyed greater access to sports betting this year, thanks to initiatives from FanDuel and DraftKings, which have promoted deregulation in this area,” Stewart said. “While there is still room for improvement, these developments have positively impacted the game.
“We can also draw valuable lessons from successful models in Australia and Japan regarding the management of gambling revenue, enabling horseplayers to expand their operations and increase profitability.” In addition to strengthening ties with the betting sector, Stewart thinks the people involved in horse racing should do more to engage with fans.
He says the new wave of owners recognise the importance of fan engagement and believes traditional attitudes in the sport must change.
“The current fan experience lacks transparency, and owners, jockeys and trainers need to be more accessible to their fanbase,” Stewart added. “Engaging with fans will create more opportunities for interaction and transparency. Some premium events have become prohibitively expensive for everyday fans.
“We must create accommodations to make these events more accessible for families, such as picnic areas in the infield and dedicated seating.” Stewart has also called on racing authorities in the US to reassess the distribution of prize money, particularly in allowance and stakes races.
The current system favours the winning horse, which makes it more challenging for smaller owners to sustain a profitable racing operation. Stewart’s dissatisfaction with the system has undoubtedly contributed to his eagerness to establish a strong foothold in the Australian racing sector.
He made a massive statement of intent at the Inglis Easter Yearling Sale, spending $5.4 million on six promising horses who could sparkle over the next couple of years. Australian racing tipsters on respected betting site comparison platform OnlyRacing will be following the progress of the sextet with interest.
Some of that group may well feature in Caulfield race tips when they make their debut, and could deliver sizeable winning returns to punters. Although Stewart subsequently failed to win the auction for Winx's filly earlier this year, his multi-million-dollar bids highlight his commitment to making his mark in Australia.
"I don't do anything by a small scale so I would expect and like to see us with 30-40 horses racing in Australia within the next 18-24 months," Stewart said.
"Some of that will be some transplants coming out of Europe or North America. Australian racing fans just love racing and love everything about it. "The model with the syndicates really gives the fans a chance to own a piece of the horse and be a part of it and I am really an advocate of that. We see it as the next significant base of our operations."
Stewart’s next trip to Australia will be for the Gold Coast Magic Millions Sale in January and it will be intriguing to see how many more big-money purchases he makes.
