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PARIS October 5, 2009

PARIS October 5, 2009. Bruno Quintana President of OSAF. President of Jockey Club e Hipódromos association. President of Jockey Club Argentino . Horacio W. Bauer President of the OSAF Technical Executive Council. Pedro P. Kavulakian

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PARIS October 5, 2009

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  1. PARIS October 5, 2009

  2. Bruno Quintana President of OSAF. President of Jockey Club e Hipódromosassociation. President of Jockey Club Argentino. Horacio W. Bauer President of the OSAF Technical Executive Council. Pedro P. Kavulakian President of Latin American Racing Channel. President of Kavulakian Comunicaciones, a holding company that runs others related to TV production and satellite services. Advisor to the Board of OSAF.

  3. A B C D E F G H I CONTENT ……………..….. OSAF. …………………. Production and distribution of images and information. …………………. Interaction between local and international totes. …………………. Distributors. …………………. Revenue and costs of obtaining the signal. …………………. Profits from return on betting. …………………. Market. …………………. The opinion of the authorities from each country about simulcasting. …………………. Conclusion.

  4. PAISES MIEMBROS VENEZUELA PANAMA COLOMBIA ECUADOR PERU BRAZIL PARAGUAY CHILE URUGUAY Tomo I ARGENTINA Tomo II Tomo III

  5. Breeding, Racing & Betting

  6. GLOBAL Europe FOALS 90.900 America 13% Asia 138.028 100.147 24% 31% 32% RACING Europe 7% 25.903 America 14% Asia 72.947 37% 54.801 35% BETTING Europe 0,52% 28.757.602.187 € America 13,92% 11.215.141.070 € 37,04% Asia 48,52% 37.669.890.384 €

  7. OSAF FOALS RACING BETTING

  8. Production and distribution of images

  9. TV PRODUCTION Each racetrack in the region has a TV system in place that allows for capturing images from different angles and broadcasting all sorts of information, including bets for the public to see in real time. These two racetracks are worth highlighting: the national racetrack in Maroñas (Uruguay) as it is equipped with full digital technology, and San Isidro’s as it has migrated to digital technology that is upgradable to HDTV. Likewise, the remaining racetracks in the region are taking similar actions.

  10. TV PRODUCTION The images generated by the racetracks are distributed to the international sports broadcasters.

  11. DISTRIBUTION Racetracks exporting their signals use satellites with hemispheric coverage, encompassing the whole American and European continents. However, those broadcasting locally use domestic satellites or cable TV networks. 805 806

  12. Production and distribution of information

  13. PRODUCTION AND DISTRIBUTION OF INFORMATION All the information is produced by each one of the racetracks making up OSAF.  It is then distributed by them to the media in general and in particular to those specialized in horse racing, such as World Racing Hub.  The information generated by signal exporting racetracks deploys the most thorough coverage demanded by those markets.

  14. PRODUCTION AND DISTRIBUTION OF INFORMATION

  15. Interaction between the local and international totes

  16. INTERACTION BETWEEN THE LOCAL AND INTERNATIONAL TOTES Although most countries have bet pooling systems provided by market leading companies, they still only network within the boundaries of each country. For the time being, totes in different countries are not connected with one another, mainly due to technological problems related to ITCP release discrepancy and currency conversion control.

  17. Distributors

  18. SIGNAL DISTRIBUTION TO SOUTH AMERICA • Currently, OSAF members receive signals from other regions which are mainly distributed by: • They all use satellite-based distribution platforms similar to those used by racetracks in South America for international broadcast. 805 806

  19. Revenue and costs of obtaining a signal

  20. REVENUE AND COSTS OF OBTAINING A SIGNAL Signals can be acquired in three different ways: One racetrack’s commingling fund abroad: out of an average 20% takeout, 12% is kept by the receiving racetrack and the remaining 8% is for covering the organizer’s commission, tax, and racing video and audio signal, data and information distribution. Fixed-odd betting: It is usually the case that the companies using this model grant the one acquiring the rights about 12% of the overall betting volume. Local-pool betting: Bets on a local pool vary from 1% to 8% according to the regulations in each country.

  21. Profits from return on betting

  22. PROFITS FROM RETURN ON BETTING 100% of the bets 6% acquisition of rights on images South America 80% return on bets 3% prizes 11% operating expenses, business profitability 8% Operating Expenses, Business profitability 80% return on bets 8% prizes 2,5 % expenses 1,5 % rights North America 100% of the bets

  23. Market

  24. MARKET The following racetracks export their signals, and their internal processes are such to comply with the international standards for TV production, information and data. San Isidro (Argentina), Hipódromo Chile, Club Hípico and Valparíso (Chile) and Maroñas (Uruguay). La Plata racetrack in Argentina and Monterrico’s in Peru are getting ready to export their signals. In 2008 these racetracks generated bets in the US worth over USD 50,000,000. All OSAF members allow for importing signals, except for Chile, where, although it is currently prohibited, following consensus within the racing industry, a request has been filed with the Chilean government to amend the legislation.

  25. MARKET Most countries lack national or federal legislation that regulates the activity, except for Brazil and Uruguay. This has led to having cases, like Argentina, where the situation is different in its 22 provinces. In some provinces it is prohibited by law whereas in others it is legal or it is allowed but with restrictions. In Argentina racing is mainly performed in the Province of Buenos Aires through the racetracks in San Isidro and La Plata, and in the City of Buenos Aires through the Palermo racetrack. While importing signals is not prohibited by the City Council, it is in the Province, where it is possible to receive important international races with local pool betting.

  26. MARKET In Brazil the activity is concentrated in Sao Paulo and Rio de Janeiro, being the latter the one importing foreign races. Colombia, Panama, Paraguay, Peru, Uruguay and Venezuela import signals on a daily basis from several racetracks following either modality: commingling funds or fixed-odds betting. Online betting still has not been regulated in these markets; this is why the activity is restricted to racetracks and their betting networks, mainly between 11 to 2 AM.

  27. The opinion of the authorities from each country about simulcasting

  28. THE OPINION OF THE AUTHORITIES FROM EACH COUNTRY ABOUT SIMULCASTING  ARGENTINA It is necessary to reach industry-wide consensus that opens up the way towards a situation that benefits the industry. BRAZIL Rio de Janeiro Jockey Club has operated with foreign bets for 3 years and it has not reached any conclusion. Sao Paulo Jockey Club does not broadcast races from abroad. ARGENTINA BRAZIL

  29. THE OPINION OF THE AUTHORITIES FROM EACH COUNTRY ABOUT SIMULCASTING  PANAMA It is seen as good as long as it is beneficial for the local racing industry. PERU The activity generates low-cost profits; it attracts fans. It is considered as a good opportunity for exchanging experiences and creating revenue that should be directly used for improving the racing industry. PANAMA PERU

  30. THE OPINION OF THE AUTHORITIES FROM EACH COUNTRY ABOUT SIMULCASTING  URUGUAY The fact that foreign races coexist with local ones has promoted the latter. Simulcasting is seen as a supplementary –not excluding- product. VENEZUELA There are two types of followers: those that attend races at racetracks and those who like to watch foreign races. URUGUAY VENEZUELA

  31. Does betting on international races impact on betting on local races?

  32. DOES BETTING ON INTERNATIONAL RACES IMPACT ON BETTING ON LOCAL RACES? Several OSAF members consider that betting on foreign races not only does not have negative effects on local bets, but it actually encourages it.

  33. Conclusions

  34. Conclusions • The region clearly breeds and exports thoroughbred racehorses. • The region generates high-ranking, high-quality content. • The region represents a market niche to boost the gaming industry, to increase the profits in the horse racing industry as well as to encourage breeding. • Several OSAF members think that simulcasting fosters interest in horse races, raises betting volumes, keeps the show going, reduces risk, facilitates better asset use and allows for developing expertise and experience. INVASOR (ARG) 2005 Triple coronado Maroñas (Uruguay) 2006 Pilmico Special (GI) 2006 Suburban Handicap (GI) 2006 Whitney Handicap (GI) 2006 Breeder’s Cup Classic (GI) 2006 Caballo del año 2007 Donn Handicap (GI) 2007 Dubai World Cup (GI)

  35. CONCLUSIONS Implement solutions that benefit the whole horse racing industry, especially breeders and fans. Increase the number of fans with more and better races Reach reasonable regulatory and tax frameworks Adopt commingling practices Fight off piracy and illegal gaming CONCLUSIONS

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