Ontario adds $35 million yearly to a $175 million horse-racing rescue plan
The provincial government approved an extra $35 million each year for five years, bringing total support for horse racing to $175 million as the industry faces declining wagers and rising costs.
Ontario’s cabinet has signed off on a supplemental package that adds $35 million per year for five years to the horse-racing sector, lifting overall public support to $175 million. The move continues a pattern of government aid that started when legalized casino gambling under Mike Harris jeopardized racetracks, prompting a revenue-sharing scheme with slot machines. Subsequent Liberal governments altered the program but kept substantial transitional funding, which later became a permanent source of support.
Despite the infusion, recent OLG data show live-race wagering down nearly 12 percent and ticket sales falling over 16 percent year-over-year. Officials claim the subsidies preserve more than 15,000 jobs and generate close to $2 billion in economic activity, especially in rural areas. However, the industry’s financial statements remain in the red, and the province expects the sector to move toward greater self-governance without further large cash injections.
Why it matters
Taxpayers are funding a struggling industry that relies on public money despite falling revenues and mounting costs.
In this story