OLG ADMINISTERS FUNDING FOR HORSE RACING INDUSTRY
TORONTO, ON – 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,” said Cal Bricker, Senior Vice President, Horse Racing. “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.
OLG is the Ontario government agency that delivers gaming entertainment in a socially responsible manner. OLG conducts and manages gaming facilities, the sale of province-wide lottery games, PlayOLG Internet gaming, the delivery of bingo and other electronic gaming products at Charitable Gaming Centres and is leading the integration of horse racing into the provincial gaming strategy. Since 1975, OLG has provided nearly $42 billion to the Province and the people of Ontario. These payments to the province support the operation of hospitals, amateur sport through the Quest for Gold program, local and provincial charities and problem gambling prevention, treatment and research.
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