The Ontario horse racing industry last week got a shot in the fetlocks when the provincial government announced that it would fund $105 million a year for 19 years to support horse racing.
Facilities such as Kawartha Downs in Fraserville, which has been running in the red in recent years, will directly benefit from the funding—which will start April 2019. The province has 15 racetracks, more than any state or province in North America.
“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,” said Jeff Leal, Minister of Agriculture, Food and Rural Affairs.
The funding will be administered by Ontario Racing, a nonprofit association.
Other funding, such as the Enhanced Horse Improvement Program, will stay in place and a new program, the Racetrack Sustainability Innovation Fund, will disburse $6 million over several years.
Kawartha Downs, which had reportedly been on the verge of ending its harness racing season after Shorelines Casinos announced that they would relocate 450 slot machines, cancelled that announcement, possibly in anticipation of these new developments. Kawartha Downs gets 85 percent of its revenue from the machines.
