The Ontario government says it will be injecting millions into the province’s horse-racing industry, with some of the funding to be rolled out this year.
Minister of Finance Charles Sousa has announced an investment of $105 million a year for 19 years starting in April 2019, as well as additional supports for smaller racetracks.
Bob Broadstock, president of Quarter Racing Owners of Ontario, says this funding is an investment in local rural economies.
The province is also promising the introduction of a Racetrack Sustainability Innovation Fund that will involve the investment of $6 million over three years, set to begin this year.
Broadstock says this will help the industry get back on its feet and transition after the loss of the slots at racetrack program.
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