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Frozen Bulletproof Purses Released

Published: September 27, 2019 3:54 pm ET

Last Comment: September 28, 2019 11:54 am ET | 2 Comment(s) | Jump to Comments

The AGCO has issued Standardbred Directive No.4-2019: Distribution of Bulletproof Funds, which relates to the distribution of Standardbred purse monies frozen as a result of issues originating in 2010.

In January 2010, the Director of the Ontario Racing Commission (ORC) ordered a freeze on all funds, purse accounts and money related to a number of licensees who were determined not to be acting in accordance with the law, or with integrity, honesty or in the public interest. The decision on the disposition of those funds was subject to a series of hearings, claims and orders since that time, which are now concluded.

In 2016, the ORC merged into the Alcohol and Gaming Commission of Ontario (AGCO). The AGCO regulates the horse racing industry in accordance with the principles of honesty, integrity, and in the public interest.

After careful consideration of this matter, the Registrar determined that the fairest and most transparent approach to the distribution of these funds is to ensure that 100 percent of the funds are used for the industry.

Given the passage of time since the funds were first frozen and the number of races and participants involved, the Registrar determined that allocating the funds to future Standardbred purses is the best way of ensuring the funds are used to benefit the industry as a whole.

Directive Issued by Registrar

On September 25, 2019 the Registrar therefore issued Standardbred Directive No. 4-2019: Distribution of Bulletproof Funds.

The Directive orders and directs that:

  • Woodbine Entertainment Group pay all purse monies that had been frozen, and any interest earned, to the Ontario Lottery and Gaming Corporation for distribution.

  • the frozen purse monies be used only for Standardbred race purses.

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(AGCO)

September 28, 2019 - 11:54 amAm I the only one that thinks

Am I the only one that thinks the purse money should be redistributed in accordance to each race in which the other participants were wronged? Maybe too much work to do the right thing? Seems unfair to me. By the way, I did not own any in such races... pretty sure anyway.

September 27, 2019 - 5:17 pmHow much money are we

How much money are we talking, plus interest? That part was left out.


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