The Liberal government, facing an election in June, has promised
$105 million a year for 19 years to support horse racing.
The promise would begin April 1, 2019.
The current subsidy is $100 million-per-year for the Horse
Racing Partnership Funding Program that began April 1, 2014, after the province
nearly ruined harness racing with its program to revamp gambling.
The
announcement on the weekend includes “additional supports for smaller
racetracks and those that are experiencing financial shortfalls.”
The new
funding agreement is expected to “empower the horse racing industry to work
together to make long-term decisions about horse breeding, racing programs,
capital investments and hiring,” the government said.
“It will
include specific measures focused on supporting community racetracks, including
operational funding and purses.”
The
Enhanced Horse Improvement Program will continue and the promises include a new
Racetrack Sustainability Innovation Fund, providing up to $6 million over three
years, beginning this year, to “help regional racetracks innovate, diversify
and expand revenue sources.”
