The horse racing field of Ontario is about to receive essential funding that would improve its operation and offerings. Ontario Finance Minister Vic Fedeli stated that the field is going to bag some CA$10 million on an annual basis for the funding of various projects and programs, as well as for the creation of new jobs across the province, as part of the Horse Improvement Program.
Ontario Racing is projected to distribute the allocationsĀ projected to serve as a positive boost for the horse racing field of Ontario. With the help of the CA$10 million per year, the field is going to work for better conditions down the road and the breeding of horses for various races. With the help of this regular allocation, the field would be sustainable and able to provide individuals with a steady income and reliable employment.
Ontario Racing Offers CA$10 Million Per Year
Up until now, the Enhanced Horse Improvement Program was able to take care of the regular allocation supporting the field. The Ministry of Agriculture, Food and Rural Affairs administered it. Now it is time for a change and generous allocations on a regular basis. Minister Fedeli pointed out that the main objective of this move is to make taxpayers a priority.
Individuals involved in the horse-breeding field in rural communities would now be able to rely on the support, as this is one of Ontarioās hallmarks. In the long run, this is expected to maintain the existing jobs around the field and create new ones. It should also be taken into account that the Optional Slots at Racetracks Program would also continue its operation, supporting race courses to the likes of Hiawatha and Kawartha Downs.
OSARP would offer regular financial support for the race courses that are eligible for funding as part of it, ensuring their operation would continue. Individuals directly affected by the horse field and its offerings would continue relying on its sustainability. In addition to that, the Ontario Lottery and Gaming Corporation is determined to bring to life the field with the help of its program that would guarantee CA$105 million annually over the span of 19 years.
OLG Offers CA$105 Million over Next 19 Years
Those funds are going to be used for the support of racecourses and the purses. April 1 is eyed as a special day, as this is when the first portion of the funding would be offered. Stephen Rigby, OLGās President and Chief Executive Officer made the official announcement that brighter days are on the horizon and Ontarioās horseracing field is about to receive substantial financial support from the government and the Crown corporation.
In relation to this, the future appears to be brighter for Western Fair District in London, now that Gateway Casinos & Entertainment announced its change of plans. At the moment, the gaming operation adjacent to the racetrack amasses nearly CA$6 million annually. The financial support among the lines of OSARP does not include Western Fair District for the time being, but Reg Ash, Chief Executive Officer, is confident that good things are coming.
He pointed out that there is not much that could be done until Gateway Casinosā lease is over. Once this happens in the upcoming year. Once this lease is over, the conversation would have to start with the Ontario Lottery and Gaming Corporation and the government in order to guarantee a sustainable future for London horseracing.
