OLG Administers Funding for Horse Racing Industry
Effective today, OLG is taking over administration of the Transfer Payment Agreements (TPAs) that the Ontario government has with racetracks in the province. TPAs support the industry by providing funding for purses and operational costs at tracks that run live racing. The ongoing collaboration between the Ontario government, OLG and the industry is helping to build the foundation for proactive, industry-led success. By taking over administration of the TPAs, OLG will distribute approximately $93 million of government funding to racetracks in Ontario to support close to 950 race dates in 2016-17. In the 2016 Ontario Budget, the government announced a two-year extension to support for the horse racing industry, formerly known as the Horse Racing Partnership Funding Program. The extension will provide funding that is consistent with current levels until March 2021, giving the industry confidence to make investments and business decisions for the coming years. OLG is continuing to work with the industry to provide options to the Ontario government on a long-term funding arrangement. OLG is also launching a new page on OLG.ca that contains information and updates on horse racing integration. The new horse racing line of business at OLG is providing additional resources to keep integration moving forward in partnership with the industry and government. Horse racing is vital to rural communities. The industry provides jobs for thousands of people across the province and is an important part of Ontario’s heritage.