The Ontario government is putting up as much as $105-million to help support the horse racing industry.
The new 19-year agreement, unveiled on Friday, also includes additional support for smaller tracks and those that are experiencing financial shortfalls.
“Our government recognizes that the horse racing industry is vital to communities across Ontario,” says Minister of Agriculture, Food, and Rural Affairs Jeff Leal. “This new, collaborative agreement will provide owners, breeders and racetrack operators with the support they need to ensure stability and success for the long term.”
The province will continue with the Enhanced Horse Improvement Program and introduce a new Racetrack Sustainability Innovation Fund, providing up to $6-million over three years to help regional racetracks innovate, diversify, and expand revenue sources.
“We are very happy with the announcement of long-term funding for the horse racing sector,” Bob Broadstock, president of the Quarter Racing Owners of Ontario says. “This commitment will provide the security that the Quarter Horse industry and the people that work in it need to continue our work and plan for the long term sustainability of the sector.”