Bullet News CLINTON – While it would be a mistake to reinstate the slots at racetracks program in Ontario, the horse racing industry needs provincial funding to remain viable, according to a transitional panel.
The panel of former cabinet ministers Elmer Buchanan, John Snobelen and John Wilkinson issued an interim report today to the Minister of Agriculture, Food and Rural Affairs suggesting a new partnership between the government and the horse racing industry that would “have a positive impact on employment, the economy, government finances and the industry’s future.”
That’s good news for Ian Fleming, who manages Clinton Raceway.
“They feel it’s worthwhile preserving. They acknowledge that if it’s not part of a gaming strategy it won’t survive just on wagering,” he said, adding it’s discouraging the industry now must wait for a final report, which is expected no later than Sept. 30.
The panel said a viable horse racing industry requires ongoing funding to maintain attractive purses, sustain tracks, support breeding and grow a robust betting system.
“Overall, the horse racing industry now derives 63.6 per cent of its purse revenue from SARP. Few if any industries could survive such a sharp financial loss,” it said.
The government has committed $50 million over the next three years to help transition the industry, but the panel believes that a greater investment is required.
“Our government is focused on balancing its budget while protecting vital services that families rely on, like health care and education. That’s why any public transitional investment in the horse racing industry must include clear public-interest principles of fiscal accountability, transparency, a renewed focus on the consumer and a business case showing that each public dollar invested is returned to the province through tax revenues,” said Ted McMeekin, who is the minister of agriculture, food and rural affairs, in a press release issued today.
Fleming said established benchmarks would help to ensure accountability in the horse racing industry.
“If they fund the purses at Clinton Raceway, we wouldn’t have any problem coming up with a report. I think there will be some funding available, they just want to make sure it’s accounted for in a better fashion,” he said.
The government has asked the panel to consult further with the industry to determine its willingness to work together in such a way that recognizes the public interest and the current fiscal climate.
