New Funding Programs Announced
To prepare for the implementation of the new five-year Horse Racing Partnership Plan to help Ontario’s horse racing industry, the government of Ontario is making available new funding that will assist the industry to develop business plans and marketing strategies.
On October 11, 2013, the government announced its new five-year plan for Ontario's horse racing industry. The government will support the horse racing industry by:
- providing up to $400 million over five years to sustain a wide range of racing opportunities;
- integrating horse racing with the Ontario Lottery and Gaming Corporation’s modernization plan; and
- restructuring the Ontario Racing Commission into two divisions -- one that will continue its existing regulatory functions and a separate new division to support industry development.
The plan encourages the industry to grow wagering revenues and enhance its fan base by creating and offering products consumers want. Communities will continue to see significant economic benefits from live racing and the breeding and training industries that it supports.
Business Case Development Fund
Under the Business Case Development Fund, racetrack operators may apply for up to $90,000 in cost-share funding to help offset the costs of hiring a third party consultant(s) to develop a strong three- to five-year business case.
Racetracks must submit a business case to be eligible to receive operational funding under the Horse Racing Partnership Funding Program, starting April 1, 2014.
Marketing Innovation Fund
The Marketing Innovation Fund will support the development of business cases for innovative marketing initiatives that are new to Ontario and would grow the horse racing fan base or enhance wagering revenues. Partnerships to develop these initiatives are strongly favoured. Up to $18,000 in cost-share funding is available under this initiative.
For More Information
For more information on the Business Case Development Fund or the Marketing Innovation Fund, please contact the Agriculture Information Contact Centre at 1-877-424-1300
The Horse Racing Partnership Plan is part of the Ontario government's plan to foster a dynamic and innovative business environment.
(OMAF)
Well part of the plan better
Well part of the plan better be to start competing with other forms of gambling by reducing the takeout to 10% or less in all pools and to modernize it with different betting platforms such as fixed odds wagering and exchange wagering because with out these three things they have no chance to attract the next generation of gamblers and with out them, the race game will die a slow but certain death. Other then the racing development and sustainability plan put forth by standardbred canada which was foolishly rejected by the industry i have yet to see a single track or management team come up with a plan that will make an ounce of difference long term. At some point the industry needs to catch on that guaranteed pick 4 pools will not attract new gamblers. New gamblers have to believe they have a chance of winning much the way people who play poker or single game sports betting believes that they can win. All the government grants in the world to hire people for certain positions will mean nothing if all they are going to do is continue on with the same old tired ideas. They need people who can think outside of the box and move the industry in a new direction.