Ontario Horse Racing To Receive Major Boost
Ontario’s horse racing field is about to receive financial aid to the tune of an annual CA$10 million contribution. The province’s Minister of Finance and pro-sportsbetting advocate, Vic Fedeli, recently made the announcement. According to the minister, the funds will be used to upgrade the entire operation as well as provide the means towards improving operations all round.
Thanks to Ontario’s Horse Improvement Program, new jobs will be created across the province. The funds will provide a much-needed boost to the many horse racing initiatives driven by the local industry and Ontario Racing will be in charge of allocating the funds to where the financial aid is most needed in the industry.
Job Security In Rural Areas
A steady income and reliable employment for those devoting their time and effort to the industry will be a welcome addition. Also, a large portion of the money will be utilised in order to ensure the betterment of the racehorse breed. Thanks to the regular annual allocation of the funds, the industry is expected to grow into a more stable and sustainable operation in general.
Many individuals involved in horse racing development in the province’s rural areas will for the first time ever experience what it’s like to enjoy job security and a steady income. This was one of the main drivers when the decision to allocate the funds was first made. As pointed out by Fedeli, it’s not only the industry that stands to benefit from the funds, but also the taxpayer.
Better Days Are Coming
The Ontario Lottery and Gaming Corporation is 100% committed to the local horse racing industry, and has said that thanks to its own initiatives and contributions, it hopes to donate roughly CA$105 million on an annual basis to the industry for the next 19 years.
The first portion of the funding will be released on April 1st, and the local industry is very much looking forward to the day. The OLG has said that a big portion of the funds will be allocated towards track upgrades and employment. According to OLG Chief Executive Officer and President Stephen Ribgy, better days are to come for the local industry, made possible by a joint effort by the country’s Ministry of Finance and the Crown Corporation.
Ontario’s horse racing field is an industry that is deserving of the boost and one that has shown itself to be a worthy beneficiary, thanks to many years of sound stewardship.