Noel Ryan, chief executive of the Irish Horseracing Authority, has hit back at Paddy Power managing director Stewart Kenny's attack on the IHA and its plans for the Tote at the annual Moyglare Dinner on Saturday night. In a statement released last night, Ryan staunchly defended the IHA's "well thought-out policies."
Ryan added: "Stewart Kenny's Moyglare Speech - essentially an attack on the stated Tote Board and IHA policy to develop the Tote to the high street in a manner which would ensure the widest possible distribution of its betting products - comes from a bookmaker with a clear vested interest.
"Whereas in the past Mr Kenny has ridiculed the Tote's plans as being `unresearched, badly thought-out and unrealistic,' he now appears to have done a complete volte-face and has threatened the financial well-being of the industry unless his firm is allowed to sell the Tote's products in his betting shops. His speech contains obvious contradictions. He proclaims himself to be a `competitor' of the Tote, yet he wants a hand in the running of it and the right to sell its products.
"Less than two years ago Mr Kenny condemned the idea of the Tote going on the high street and told the public that his betting shop customers had no interest in Irish racing, but he now declares himself to be speaking with the good of Irish racing at heart. The Paddy Power organisation is a private sector company whose purpose is to make money for its shareholders.
"The IHA Board which represents all the main sectors of the thoroughbred industry has, through clearly thought-out policies, moved the industry significantly forward in the past two years. The Tote is a 100 per cent-owned subsidiary of the IHA running a mutual (pool) style of betting where 80 per cent of the punters' money is returned to them with the profits going directly into racing.
"The authority, its executive and the board of the Tote are totally at one on what needs to be done with the Tote and consistently said so since the publication of the Strategic Plan in December 1996. The ground-work for a solid future for the Tote is now being laid with the new technology coming on-stream from Autotote in the spring and a rationalisation and restructuring plan for the company itself.
"The potential that the Tote has of delivering a healthy incomestream for racing is obvious as is Mr Kenny's mission to deliver the maximum income for its shareholders. Mr Kenny's real fear is a successful Tote on the high street.
"The Tote is not seeking `selective deregulation' but simply the right to distribute its products in outlets other than those of its competitors."
Trainer Howard Johnson saddles River Unshion to success in the St Modwen Handicap Chase at Newcastle yesterday. Though challenged by Brighter Shade, he was kept up to his work by David Parker to score by five lengths.
