The Liberal government introduced legislation on Friday committing $1 million in annual funding to Harness Racing New Brunswick until it is able to put 150 VLTs into operation that the government allocated to them last year
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It is expected the organization will receive roughly $1.2 million in revenue from the VLTs once they are all operating. Until then, the government will cover the shortfall in revenue.
Finance Minister Victor Boudreau said Harness Racing New Brunswick is still establishing itself and isn’t ready to place all of its VLTs at racetracks. He said he doesn’t know how long it will take for the 150 VLTs to be operational and as the VLTs are gradually placed at racetracks, any revenue from the machines will be deducted from the government funding.
To read the Canadian Press article in its entirety, click here.
(With files from the Canadian Press)
awesome this is the 1st time
awesome this is the 1st time in my 57yrs that the goverment has stepped up to the plate !!this is an industry that provides alot of income to new brunswickers to the farmers to the truck dealers gas companys to the everyday horseman thousands of workers!!!thank you MR.GRAHAM i know my whole family is looking down at you smiling as they were all involed in the sport to my brother gerald my mother,father and grandparents uncles[gibersons]Tax payers beleive me with the project in place the racing industry will become self governed.Keep up the good work.