Today, Stephen Rigby, OLG’s President and CEO, released the following statement on new funding support for horse racing in Ontario:
“The Ontario government has announced additional funding for the horse racing industry that will help more racetracks, breeders and horsepeople access support.
Under an amended Long-Term Funding Agreement (LTFA), OLG will contribute $10 million annually to support programs for breeders and horsepeople. The LTFA also solidifies agreements with racetracks that have chosen to receive funding to support operations under the Optional Slots at Racetracks Program.
Beginning April 1, 2019, OLG will provide nearly two decades of stable funding to help build a sustainable industry in the province. It is a comprehensive package of support that was designed to reach all areas of the industry and reaffirms OLG’s commitment to invest in a sector of Ontario’s gaming marketplace that provides a great deal of value to the province.
The Agreement includes mechanisms for greater reporting, accountability and transparency, and will encourage the industry to work collaboratively on self-governance.
Strengthening Ontario’s horse racing industry will help protect thousands of jobs and provide economic benefit to rural communities across the province.”
OLG is a crown agency that develops world-class gaming entertainment for the Province of Ontario. Acting in a socially responsible way, OLG conducts and manages land-based gaming facilities; the sale of province-wide lottery games; PlayOLG Internet gaming; and the delivery of bingo and other electronic gaming products at Charitable Gaming Centres. OLG is also helping to build a more sustainable horse racing industry in Ontario. Since 1975, OLG has provided nearly $50 billion to the people and Province of Ontario to support key government priorities like health care; the treatment, prevention and research of problem gambling; and support for amateur athletes. Each year, proceeds from OLG’s operations also support host communities, Ontario First Nations, lottery retailers and local charities across the province.
All for Here – 100 per cent of OLG’s proceeds are invested in Ontario
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