Ontario invests $400m into horse racing

Premier Kathleen Wynne says she’s committed to Ontario’s horse racing industry, and to prove it, the Liberal government is pumping $400 million into the business over five-years. It’s part of a restructuring plan to support tracks and breeders.

The sustainabilty plan calls for up to $80 million dollars a year to be put into the horse racing industry, beginning next April.

A “world class racing circuit” is also part of the plan, involving eight tracks, including Western fair, Flamboro, Mohawk and Woodbine. However, a full race calendar at the struggling Fort Erie Racetrack won’t be supported.

A Horse Racing Industry Transition Panel made the recommendations in a report that Premier Wynne released this morning at the Grand River Raceway in Elora. Wynne called for a 5 year plan to support Ontario’s horse racing industry, after the McGuinty Liberals pulled the plug on the long-time Slots-at-Racetracks program, which brought in about 345-million dollars a year for racetracks.

The premier says, “what we have done here, is we’ve said look, there was a plan and a program in place that was not accountable, that was not sustainable. There wasn’t a requirement for the kind of transparent business plan that I think we need from all of the tracks, and so what I want is I want us to have an industry that is wide open to the public, that people understand how it works, and that’s why we needed to recalibrate now… I hope that every track in the province can work with the industry and develop a business plan that can demonstrate how it’s going to be sustainable.”

This plan also includes integrating the horse racing with the Ontario Lottery and Gaming corporation. OLG President and CEO Rod Phillips says, “we appreciate the Horse Racing Industry Transition Panel’s leadership on the development of the five-year plan that will help ensure a vibrant and sustainable horse racing sector in Ontario. OLG will commit the necessary resources to implement and execute the government’s plan.”

This restructuring plan also includes a leadership shake-up at the Ontario Racing Commission. The head of the ORC, Rod Seiling stepped down this week, and Premier Wynne says that, pending cabinet approval, panel member Elmer Buchanan will take his place.