Another ORC Facts ON Track Released
On Thursday, November 3, the Ontario Racing Program released its third issue of 'Facts ON Track,' which highlights information the organization has released regarding the Ontario standardbred racing industry
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In it’s release, the ORC highlighted a pair of points from the issue. They appear below.
- As of the end of October, it is estimated 98.75 per cent of the total provincial purse earned in 2011 will be paid out in 2011
- This year's increase to accumulated purse underpayment is projected to be less than the increase incurred in 2010 - before the Ontario Racing Program.
The ORC release also states that more issues of Facts ON Track are to be expected in the coming weeks.
To view the issue of Facts ON Track, click here.
It's NOT over $5million.
It's NOT over $5million.
Hi, my name is Ryan and I am a member of the Ontario Racing Program Implementation and Monitoring Group. I will try to clarify the numbers for you.
The projected purse underpayment at Georgian Downs at the end of 2011 is $ 2,168,000.
This includes the approved redistribution of $1 million to Flamboro Downs.
At the end of 2009, the total purse underpayment stood at $ 1,019,498.
At the end of 2010, the total purse underpayment increased to $ 1,498,247 (up $478,579).
At the end of 2011, the underpayment is projected to be $ 2,168,000 (an increase of $670,000).
These numbers and projections have been shared with all horse people association representatives at meetings held on September 28, October 27 and November 1st. The projections are based on the most recent information available. We are continuing to work with the Purse Account Managers to update and refine the projections.
There are a number of planned and unplanned reasons why underpayments exist in purse accounts, but be assured any funds not distributed remain in the purse account at the track.
Anyone interested in more information, or who has questions about the Ontario Racing Program, you are welcome to contact any of the members of the Implementation and Monitoring Group (Wendy Hoogeveen, Bill Fines, Mike Wilson, Rob McKay, Dave Stewart, or myself) at 416-213-0520.
Ryan Dupuis
Please explain why Geogian
Please explain why Geogian Downs' purse surplus is now over $5 million when it was only approximately $1.4 million at the start of 2011 and the Ontario Racing Program? Even when you subtract the original $1.4 million surplus, the 2011 surplus is already more than $3.5 million!