Two of Perthshire’s most prestigious tourist attractions, Scone Palace and Perth Racecourse, will merge in early 2023, in a transformational deal that will ensure the preservation of horse racing at Perth.
At an extraordinary general meeting, Perth Hunt Club members voted overwhelmingly (97%) in favour of the Joint Proposal with Scone Estates to restructure the governance of Perth Racecourse. Scone Estates will invest a minimum of £5m into the racecourse over the next eight years, insulating it against various economic headwinds and better future-proofing the popular venue.
Morag Connaghan, Head of Business, commented, “With the mandate from the majority having approved the Joint Proposal, we are now drafting the legal documents with the aim of completing the transaction in the first quarter of 2023. Until then, its business as usual with all focus on preparations for a successful 2023 racing season starting in April”.
Brian Stevenson, CEO of Scone Palace Estates, commented, “As with Scone Palace, a successful and vibrant Perth Racecourse is vital to the economic success of Perth. Working with the existing team, we will grow and enhance racing in Perth and secure it for the next 100 years”.