Having dealt with significant losses over the last few years, the owners of Fort Erie Racetrack for thoroughbreds are not prepared to commit to another year of racing without knowing the status of possible assistance from the provincial government.
In an article published today in The Toronto Star, multiple Sovereign Award winner Perry Lefko explains that officials from the 111-year-old racetrack want to know if the Ontario government is prepared to offer non-cash incentives to help fund a proposed $300 million commercial/residential project adjacent to the track. The project would include a 350-room hotel, conference centre, spa and 2,500 time-share condominiums as well as improvements to the grandstand and backstretch.
In the article, Stephen Ayers, spokesperson for Fort Eric Racetrack owner Nordic Gaming Corporation, stated that the last thing that the ownership wants is to see the historic facility close the track.
"[Closing the track] is something we don't want to [do]. We would be loathe to do it. ... We have to have an answer from the government in the shorter while in order to make our decision as to what our future is. It's a question of getting to an agreement ... to decide on next year. Every meeting (with government officials) has been positive."
Click here to read the article in its entirety.
(With files from The Toronto Star)