Horse Races S.A. has officially ceased Greek horse races, citing a persistent decline in the number of registered horses. According to the concession agreement, this decision comes as the average count fell below 300 for two consecutive years. The company is exercising its contractual right to terminate the lease agreement for the Athens Hippodrome, which will be returned to its owner, ODIE S.A. under special liquidation, within two months.

Despite significant efforts and investments exceeding €32 million since taking over in 2016, Greek horse races have been a loss-making business for decades. The company faced total losses of €100.3 million from 2016 to 2023.

Horse Races S.A. had undertaken various initiatives to revive the struggling industry, including facility upgrades, increased prizes, incentives for horse owners, and the adoption of international standards for transparency and competitiveness. However, the decline persisted, with the current active horse count in Markopoulo standing at 172.

In response to these developments, the company is committed to supporting its 75 employees. Measures include compensation based on employment status for company staff, while active jockeys and exercise riders will receive compensation reflecting their past year's activities and one-year free private health insurance.

The welfare of horses in Markopoulo remains a priority, with horse owners allowed to keep their horses in the stables for free for one month. Additionally, Horse Races S.A. will subsidize part of the transport costs for owners with up to five horses, facilitating the transportation of horses to other safe venues within Greece.

While Greek horse races have come to an end, the company reassures customers and agents that it will continue to offer normal mutual betting on foreign horse races through the OPAP stores network. More details about the support measures will be communicated to all interested parties in due time.