01/23/2013 3:50PM

Harness Racing: WEG agrees to deal with Province to continue racing

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Woodbine Entertainment Group (WEG) today confirmed that it has reached an agreement in principle with the Province which ensures the continuation of live horse racing at Woodbine and Mohawk Racetracks for the next two years.

"This long-awaited agreement offers stability while WEG and our partners in horse racing work with government towards a long-term sustainability solution," said Jim Lawson, Chairman of the Board of Directors of Woodbine Entertainment Group. "It's clear to us that this is only a short-term fix, and sustainability can only be achieved by the integration of horse racing into the province's gaming strategy. As the largest operator of horse racing in Canada, WEG is committed to working with the government to achieve this critical outcome."

Lawson noted that horse racing has a long and important history in Ontario, and that in recent years the industry has established a business model - and a level of racing excellence - recognized the world over. "Our challenge is to now build a new, sustainable model for horse racing in Ontario that continues to set the standard internationally. I'm confident that working with our partners in industry and government, we can achieve that goal. Our industry deserves nothing less."

(edited release-WEG)