IT'S a billion dollar business about to get a colossal black eye courtesy of the Covid-19 coronavirus pandemic.
Racing, in its three forms - thoroughbred, harness and greyhound - is one of the biggest employers in Australia and has prevailed for nearly 200 years despite war, famine, flood, miscreants who sought greed over good, even equine influenza.
But, like so many other industries, it is under siege from coronavirus.
Race meetings will proceed as planned in almost every jurisdiction - picnic programs aside - but without the crowds as authorities comply with a Federal Government declaration to cancel non-essential gatherings as a means of halting the spread of coronavirus.
Officials forecast the loss of on-track patronage will severely impact their bottom line. Besides gate takings, patrons spend on hospitality and merchandise is "vitally important" to the coffers of clubs.
The Australian Turf Club has been a major contributor to the NSW economy over time, employing more than 2700 people and providing $1.88 billion in gross direct and indirect output.
In 2018-19 the ATC generated revenue of $267,085,000 from all operations but a high percentage was from events and hospitality, which some say will be savaged by the lockout of patrons.
Similarly, the Victoria Turf Club, home of the globally famous Melbourne Cup, generated more than $200 million in the 2018-19 financial year, including $4m from its events business. Thirty percent of its income was derived from hospitality and events, an equal amount from ticketing, memberships, media rights and sponsorships and five percent from wagering.
The Brisbane Racing Club, which manages the city's two tracks, generated more than $59,871,409 in income from customers in 2018-19, of which $22,248,000 came from wagering.
Queensland trainer Chris Munce worries about the "wider racing community" being impacted by the coronavirus.
"It's hard enough with races run without owners and the crowds but we can deal with that. If the industry closes the impact will be terrible because there is so much ancilliary support," Mr Munce said.
"There are veterinarians who rely on the industry, feed merchants, farriers, transport drivers and the regular stable staff. Something will have to give."
Jockey Hugh Bowman, who became a household name as the rider of Winx, admitted it was a difficult time, adding: "I'm a jockey and I'll do what I'm told."
Des O'Keefe, chairman of the Australian Jockeys Association, said some members would be "better placed" than others to weather any financial storm but caring for the mental and social health of members and their families should be paramount.
A spokesman said Tabcorp said the impact of COVID-19 on sport and racing events was "evolving "and "difficult to quantify".
"Our focus for now is on supporting our staff and our customers to ensure their safety and well-being, while working with our stakeholders - including the racing industry and our retail partners - to mitigate the impacts of the COVID-19 pandemic," the spokesman said.
"We have implemented extra precautions and cleaning measures across our offices and our retail networks, and those teams at Tabcorp that are able to, will be working remotely to assist efforts to prevent infection."
Overseas it's just as grim. Earnings at the parent company of bookmaker Paddy Power could fall by up to £110 million should the Covid-19 pandemic continue into the northern summer and mean restrictions on sporting events, the company says.
Last week the Moonee Valley Racing Club and Melbourne Racing Club hosted patron-free meetings at Moonee Valley and Caulfield, respectively, and the Australian Turf Club will do likewise with the $7 million Longines Golden Slipper card at Rosehill in Sydney on March 21.
It means only licensed personnel such as jockeys, trainers and stable staff will be allowed entry along with raceday officials and staff, broadcasters and accredited media.
The limitations will continue into the forseeable future and are being replicated across the country.
Racing Victoria's chief executive Giles Thompson has labelled the pandemic "a unique and rapidly evolving situation", adding RV will be guided by advice from government and health authorities.
Racing Australia is developing what it terms a robust Business Continuity Plan, incorporating a specific Coronavirus (COVID19) Response Plan to ensure the continuity of services provided by Racing Australia.
"Given the constantly evolving situation, Racing Australia continues to monitor, review and update planning and preparation as necessary in order to respond and recover in the event of a health emergency due to Coronavirus (COVID-19)," a spokesperson said.
Racing Queensland chief executive Brendan Parnell said coronavirus presented a "unique and complex situation" demanding a uniform approach.
"The health and safety of our 40,000 participants, including those who are employed in the industry, remains our top-priority and we will continue to work with our clubs, QRIC and participants to navigate this period.
"We are mindful of the carnivals we have on the horizon - and the impact that this decision may have on our clubs - but it is important that we restrict on-course access in the short-term to limit the potential spread of COVID-19 and the potential impact to our industry."
As the Melbourne autumn carnival closes, Sydney begins and Brisbane looms, Brisbane Racing Club CEO Tony Partridge said it was a bitter-sweet moment for the racing industry.
"We do not know how long this situation will be in place. The developments are unprecedented in modern times," Mr Partridge said.
"We will keep you informed during this period and provide updates on the status of planning for the Brisbane Winter Carnival. We support the measures to prioritise the health and well-being of our industry participants (and) we are grateful that racing can continue for now while other sports face interruption."