New JRC boss hits ground running at Caymanas Park

RYAN Reid, new chair of the Jamaica Racing Commission (JRC) and Betting Gaming and Lotteries Commission (BGLC), has hit the ground running at Caymanas Park, recently meeting with representatives from the agents, grooms and trainers associations.

Reid, chairman, real estate investment firm, First Rock Group, said his mission is to position the JRC as a “facilitator” for the various interest groups in local racing while balancing the commission’s role as regulator of the industry.

“My remit is for the JRC to bring more inclusivity to the industry among stakeholders. The engagement of all stakeholders is critical while, at the board level, working to enhance the governance framework,” Reid explained.

Reid replaced Clovis Metcalfe, renowned banker, owner and breeder of racehorses, as chair of both BGLC and JRC. He also chairs the Casino Gaming Commission.

Reid said meeting with representatives of the occupational groups was the first of many sit-downs, naming the Thoroughbred Owners and Breeders Association of Jamaica among other stakeholders with whom he is scheduled to meet.

“I met with the occupational groups because I needed to understand their concerns. The JRC does not only exist to police racing but to facilitate, ensure all stakeholders’ concerns are heard in a significant way.

“The reality of horse racing is that it is a peculiar industry with many different segments of stakeholders, each having their own objectives and issues. As such, I believe it is duty-bound on the commission to, as best as possible, balance the issues of the various stakeholders,” Reid added, pointing out that the promoting company, Supreme Ventures Racing and Entertainment Limited (SVREL) was also an important industry voice to be heard.

“The promoter needs to ensure it is viable, making a return on investments in order to keep the show going. The JRC’s role is not just to be a regulator but a facilitator to ensure all, including the promoter, achieve their objectives,” said the new chair, pointing out that he might not be as invested as the previous chairman but was introduced to the sport years ago by his father.

“I have always been involved in the racing industry. I was a part of an owner syndicate. My father knew the Chungs, who owned Saint Cecelia,” said Reid, referring to the two-time Horse of the Year, who holds the record of 13 consecutive wins.

Fractional ownership

Being a former owner, Reid noted Cassiopeia Racing Inc, a group of seven prominent Jamaican women who bought Mouttet Mile winner, RIDEALLDAY, weeks before the United States-bred won the US$300,000 race.

“One of the things I want to champion as JRC chairman is fractional ownership of racehorses, as well as the leasing of horses, in an effort to attract more owners to horse racing from an affordability standpoint.

“Prospective owners need to understand that fractional ownership is exciting and affordable. They need not be gamblers in order to own a racehorse or be involved in the industry as a breeder,” said Reid.