Horse Racing Alberta (HRA) has announced an increase in funding for the 2024 Purse Allocation and the Breed Improvement Program (BIP) for all racing breeds in the province.
As a result of higher-than-expected revenue performance from Alberta's racing entertainment centres, the Audit and Finance Committee recommended a $400,000 increase to the 2024 Purse Allocation and a $120,000 increase to the 2024 BIP. This proposal was approved by the HRA Board of Directors on May 24, 2024.
“We are excited to share this good news with the Alberta horse racing industry,” said Kent Verlik, Chief Executive Officer of Horse Racing Alberta. “Purses in 2024 will be increased by $400,000 from $14.5 million to $14.9 million and BIP funding is going up by $120,000 from $4.2 million to $4.32 million.
HRA’s Breed Improvement Program is directed at enabling the production of high-quality, Alberta-bred horses. Each breed organization has unique methods for distributing the funds, all aiming to infuse funds into the industry to help offset the costs of foal crop production and support breeder sustainability.
For more information about Horse Racing Alberta’s operations and financial projections for 2024-2026, visit thehorses.com/about/documents and scroll down to the Business Plans section.
(Horse Racing Alberta)