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Purse Monies Moving To OLG

Published: March 16, 2016 5:57 pm ET

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The Ontario Racing Commission (ORC) issued a Notice of Decision to the Ontario Lottery and Gaming Corporation (OLG) on Wednesday, March 15 regarding the transfer of standardbred purse monies.

The decision was made in light of the upcoming dissolution of the ORC on April 1, 2016, the creation of a new horse racing division at OLG and amendments to the Ontario Lottery and Gaming Corporation Act, 1999, enabling the OLG to administer the 14 existing transfer payment agreements with Ontario racetracks originally signed by the ORC.

As of March 15, 2016, the standardbred purse funds held in trust by ORC total $3,733,855.05. Among the clauses set out in a MOU signed by ORC and OLG: “that the funds shall be used only for standardbred purses, or to fund activities that will provide benefits to all or a sizeable portion of horsepeople.”

The monies include the approximately $2.11 million in standardbred purses previously held by Sudbury Downs. On February 15, 2016, the ORC issued a Notice of Decision to MacRanald Enterprises Incorporated, the owner of Sudbury Downs, ordering that the remaining funds in the Sudbury Downs Purse Account be forwarded to the ORC in Trust, as well as payment of outstanding regulatory fees, wagering levies and program charges. This matter was resolved to the satisfaction of the ORC and MacRanald Enterprises.

A copy of the ORC Notice of Decision, as well as the MOU between the OLG and the ORC and AGCO can be found below.

Please note any aggrieved party has the right to appeal this decision to the Commission, such appeal to be commenced within 15 days from the date of this Decision.

 


 

(With files from ORC)

AttachmentSize
Notice of Decision: ORC Purse Funds; March 15, 201647.31 KB
Memorandum of Understanding: ORC-OLG-AGCO450.25 KB

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