07/27/2012 2:42PM

Hastings: Great Canadian reaches lease extension with City of Vancouver

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VANCOUVER, British Columbia – Great Canadian Gaming Corporation, the parent company of Hastings, announced Friday that they have reached an agreement with the City of Vancouver to extend its lease of the track until November 2014. The current lease was due to expire in November.

One of the reasons for the short term of the lease extension is Great Canadian is waiting to see what the Horse Racing Management Committee recommends when they release a report in the next few weeks regarding how they envision the future of horse racing in British Columbia. The Committee, formed in 2009, allocates dates, purses, and is the regulator of both the Standardbred and Thoroughbred sectors in British Columbia.

“This extension allows our company to work closely with the City of Vancouver regarding long-term operations at Hastings Racecourse without being concerned about a lease deadline looming,” said Great Canadian vice president, Howard Blank.