According to a report, Great Canadian Gaming Corporation, has gone on the record as saying that a renewal of the current lease agreement it has with the City of Vancouver for thoroughbred racecourse Hastings Park is in limbo
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An article by The Vancouver Courier has stated that talks between GCGC and the city are continuing. The current lease agreement is set to expire on November 9 of this year.
The report has quoted Baker as saying that besides the value of the gaming license for the track, the company has "written off the (Hastings Park) assets in their entirety from our balance sheet," and that “It's a very difficult situation, but we're working on creating a future for the racing industry in the province.”
The report also quoted Baker as saying, “A guy that comes to the racetrack, historically, is somebody that studies things, that looks at a racing program, that uses their brain to think about things, is engaged, is there for a very social event with others.
"We found at our two tracks here in BC, as well as watching and observing the two in Ontario, those folks that come for the slots aren't necessarily the same people that come for racing.”
(With files from The Vancouver Courier)