Long-term funding agreement reached for Ontario racing

ETOBICOKE, Ontario – The Ontario government announced Friday a funding agreement that will give the province’s horse-racing industry $105 million annually for the next 19 years, beginning April 1, 2019.

The new agreement will replace the current Horse Racing Partnership Plan between the industry and the provincial government, which will enter the final year of its five-year term April 1. Under the Horse Racing Partnership Plan, the industry will receive $100 million from the government this year.

As part of the new plan, the government will continue the Horse Improvement Program and will introduce a new Racetrack Sustainability Innovation fund that provides up to $6 million over three years to help regional racetracks. The government also said the plan will include measures focused on supporting community racetracks, such as operational funding and purses. Additional support will be available for smaller racetracks and those experiencing financial shortfalls.

The funding will be administered by Ontario Racing, a nonprofit horse-racing-industry association recognized by the provincial government as the authority for horse racing in Ontario. The government said the Ontario Racing board would have five seats allocated for racetracks, five for breeders, and one independent chair.

“The breeders are really excited and look forward to reading the details of the long-term funding agreement,” said Peter Berringer, president and national director of the Ontario Division of the Canadian Thoroughbred Horse Society. “Long-term funding will provide greater stability and transparency in the industry and support economic development in rural communities.”