Ontario Racing board signs provincial funding agreement

ETOBICOKE, Ontario - The Ontario Racing board of directors has announced the signing of a 19-year funding agreement with the Ontario government, which announced last month that it would allot up to $105 million annually to horse racing industry stakeholders over the period.

The funding will be used to sustain breeding and racing, including purse management, operational expenses, and capital improvements. It is meant to help bolster the entire industry following the abrupt end to the racetrack slots program in 2012. The loss of the slots program led to a downturn in the industry.

“This is an historic day for horse racing in the province,” said Bill O’Donnell, president of the Central Ontario Standardbred Association. “This government clearly remains committed to ensuring the long-term sustainability of the Ontario horse racing industry and the rural communities that depend on it. The new, collaborative agreement will help provide horsepeople, owners, breeders and racetrack operators with the support needed to ensure stability and long-term success.”

Other founding members that are part of Ontario Racing Membership Agreement include the Ontario division of the HPBA and the Quarter Racing Owners of Ontario Inc.

“We regard the long-term funding agreement as a starting point, not an end point, to finally begin stabilizing the future of our industry,” said HBPA president Sue Leslie. “Challenges remain, but we now have something to build on. The commitment to create new streams and growth through new products continues.”

Also on board with the agreement on the Thoroughbred side are Woodbine and Fort Erie racetracks.

The Ontario division of the Canadian Thoroughbred Horse Society announced last week in a statement that it would not sign the agreement because it was not in favor of how it was drafted.

Details have yet to be announced for the agreement, which will commence on April 1, 2019.