Horse breeders in British Columbia are concerned about the future of horse racing in the province as the government has announced that it will discontinue sharing revenue from slot machines at two casinos adjacent to racetracks starting next year.
Solicitor General Nina Krieger informed representatives of the horse racing industry in a letter dated November 25 that the funding from slot machines at Vancouver’s Hastings Casino and Surrey’s Elements Casino would no longer be provided. These casinos are located next to racecourses, with Hastings Racecourse being the sole operational track in B.C. following the closure of Fraser Downs in Surrey earlier this year.
The decision to cut funding was made after a review found that the industry was not sustainable without significant additional government spending, which the province could not commit to due to facing a record deficit.
Gary Johnson, chair of Thoroughbred Racing B.C., expressed shock at the news during a virtual meeting with Krieger, estimating that the industry would lose approximately $8 million as a result. Discussions are underway with Great Canadian Entertainment, the current owner of Hastings Racecourse, to reduce the number of race days in response to declining slot machine revenues.
A spokesperson for Great Canadian Entertainment stated that they are reviewing the government’s decision and will engage with industry partners to address the situation. Meanwhile, Tory MLA Ian Paton criticized the move, highlighting concerns about the impact on the equine industry in B.C. and urging the government to reconsider.
The closure of Fraser Downs has had a significant impact on the horse breeding community, leaving Hastings Racecourse as the only operating track in the province. Johnson emphasized the need for the government to provide support and transition plans for the industry to mitigate the potential loss of family farms and jobs associated with horse racing.
While the decision to end the revenue sharing arrangement has raised worries about the sustainability of the horse racing industry in B.C., the Ministry of the Solicitor General clarified that the funds would be redirected to support public programs and services through the B.C. Lottery Corporation after January 31.
