The Antigua Turf Club Inc. (ATC) is defending its proposed redevelopment of the Cassada Gardens Racetrack, arguing that the project represents a major opportunity to revive horse racing, create jobs, and transform a historic national asset into a sustainable economic venture.
The Club issued a detailed public statement amid growing discussion surrounding the proposed redevelopment, including questions about the investment proposal, requested government concessions, and the role of private investors.
The ATC said Cassada Gardens is more than a sporting facility, describing it as an important part of Antigua and Barbuda’s sporting and cultural heritage that has brought together horse owners, trainers, breeders, jockeys, grooms, vendors, families, and racing enthusiasts for generations.
The Club said its goal is to preserve that legacy while transforming horse racing from an informal pastime into a professionally managed and regulated industry.
The redevelopment proposal, submitted in February 2024 by the US Virgin Islands-based Caravelle Group, is valued at approximately XCD $30 million and includes plans for a modern racing and entertainment complex.
The proposed development would include upgrades to the racetrack with an international-standard racing surface, running rails, crowd barriers, a saddling paddock, concessions area, modern grandstand, quarantine and receiving barns, testing facilities, and a new clubhouse.
A major component of the proposal is the introduction of a gaming facility alongside the racetrack, a combination commonly known as a “racino.” The ATC said the concept would be the first of its kind in a Caribbean racing jurisdiction outside of Puerto Rico and the Dominican Republic.
Under the proposed arrangement, 15 per cent of net gaming revenue would be allocated to the Antigua Turf Club to help fund racing operations, maintain the facility, and support the long-term development of the sport.
The Club clarified that the revenue-sharing arrangement would be based on net gaming revenue after winnings are paid to patrons, rather than gross gaming activity.
Beyond horse racing, the redevelopment plans include additional recreational and community facilities, including areas for football and cricket, a children’s playground, and the use of the newly constructed 24-million imperial gallon dam as part of the wider development.
The ATC said the aim is to create a facility that operates throughout the year, rather than only on race days, generating opportunities in sports, entertainment, tourism, and leisure.
The organization also highlighted several social and economic commitments linked to the proposal, including the establishment of a Youth Equine Academy, scholarships for Antiguans and Barbudans pursuing equine studies, and the importation of more than 50 thoroughbred horses.
The Club said the project could create employment opportunities across several sectors, including construction, hospitality, veterinary services, agriculture, transportation, security, administration, and racing operations.
Concession Discussions
The ATC also addressed concerns surrounding requests for tax concessions from the Government, stating that the measures form part of the financial structure required to make the investment commercially viable.
The Club confirmed that Government required the investor to establish a XCD $5 million performance bond or escrow account as a condition for receiving concessions and tax exemptions.
According to the ATC, the requirement was fulfilled, but discussions later reached an impasse over one outstanding exemption within the broader concession package.
The Club said any final agreement should include safeguards such as project milestones, reporting obligations, performance requirements, and clawback provisions to ensure that commitments are delivered.
The ATC rejected suggestions that the concession request was intended to deprive Government of revenue, explaining that the proposed framework would allow funds to remain within the project and support the redevelopment and operation of the publicly owned Cassada Gardens property.
The Club described the approach as a “Quasi-Tax Reinvestment Framework,” where certain fiscal concessions would support the rebuilding of the racing industry while allowing the project to generate future economic activity and tax revenues.
Need for Sustainable Racing Industry
The Antigua Turf Club said horse racing cannot survive on race-day earnings alone, noting that maintaining a modern racing operation requires significant ongoing investment.
Those costs include maintaining the racing surface, caring for horses, supporting trainers and grooms, providing veterinary services, meeting safety requirements, and maintaining insurance and security standards.
The Club said successful racing jurisdictions around the world rely on recurring revenue sources such as gaming, wagering, sponsorships, media rights, and commercial partnerships.
It argued that without dependable revenue streams, the industry would remain vulnerable and dependent on Government assistance, while a sustainable financial model could support jobs, training, tourism, and long-term industry growth.
Call for Racing Regulation
The ATC also called for the establishment of a Racing Commission or Racing Authority supported by modern legislation.
The proposed regulatory body would oversee licensing, racing rules, integrity controls, anti-doping measures, equine welfare, ownership registration, safety requirements, and financial accountability.
The Club said proper regulation would help create a formal racing industry, improve investor confidence, and ensure that owners, trainers, jockeys, grooms, and other participants operate within established standards.
The ATC said an updated redevelopment proposal will be submitted shortly and expressed optimism that discussions with the Government can continue.
The Club maintained that the Cassada Gardens redevelopment represents an opportunity to preserve one of Antigua and Barbuda’s oldest sporting traditions while creating new opportunities in employment, tourism, youth development, and economic diversification.
It looks like Gaston’s administration killed horse racing in Antigua and Barbuda by selling the people’s lands to foreign people claimed to be investors. I grew up in that area, and horse 🐎 racing was the norm on Sundays, when family went to interact and watch the entertainment races. I remembered that as a little girl, I used to sit on the veranda of the old cigarette factory located north of the track and watch each race with my entire family, starting with my great-uncle, who never missed a race. The people of Antigua and Barbuda demand that the horse race recreational facility remains at that location. How long do we have to wait before we can see another horse race event?