After serving the horseracing industry directly for the past twelve years, formerly as Chairman and later as CEO of the Racing Association (RA), Larry Wainstein has taken a decision to tender his resignation from the RA as from the 31 January 2020 to focus on personal business interests.
The RA Board issued a notice on Tuesday 28 January 2020 and said it is currently in discussions with Mr Wainstein as regards his period of notice.
The vacancy created will be advertised to find a suitable candidate for the position although an interim measure may be required to continue the work of the RA without disruption.
The notice states that Mr Wainstein has played an extremely important role in the industry and we believe he has always acted in the best interests of all racehorse owners.
During his tenure with the RA we have recognised and acknowledge Larry’s dedicated commitment to the job at hand and, despite all the travails that one has to go through in our industry, his unquestionable and unerring efforts in doing the best for our owners has not gone unnoticed.
His achievements have been innumerable but suffice to list the following milestones we believe are worthy of mention:
- Overseeing a regular increase in stakes every year prior to 2020 despite adverse economic conditions;
- Prudent financial management of the purse strings of the RA in doubling its cash resources since his entry into the RA;
- Improving the Race Day Experience for owners;
- Overseeing the refurbishment of the various venues – Elevation Room, Paddock Room and the Garret Bar;
- Co-ordinating and managing new race initiatives such as Princess Charlene Race Day, Monaco Million Race Day and the Jockey’s international;
- Introducing new benefits for members such RA Bonus Races, Runner Notifications and Tellytrack live racing accessibility;
- Special Achievement Awards at the RA Feature Season Awards;
- Increased take-out from Sports Betting into the stakes pot;
- Facilitating support for the Export Protocols Programme as well as the Asian Racing Conference.
On behalf of the Board , RA Chairman Michael Leaf took the opportunity to thank Wainstein for his commitment and contribution to the industry and to wish him well in his future endeavours.