SUMMARY & HIGHLIGHTS:
- The manner and timeframe with which the Slots At Racetracks Program (SARP) was terminated has created a significant crisis in the Ontario horse racing industry, resulting in:
- An exodus of investment: Since 2011, more than 3,000 owners have left the industry, representing approximately $1 billion in investment.
- Significant loss of jobs: Since 2011, more than 9,000 jobs have left the industry, mostly jobs in rural Ontario.
- Substantial reduction in breeding production and breeding capacity: Since 2011 Ontario mares bred are down by 60%, foals registered from Ontario mares are down by more than 60%. Stallions standing in Ontario are down 54% — from 243 in 2011 to 138 in 2013. The very existence of a viable breeding production sector for Ontario race horses is now in jeopardy.
- Extreme lack of confidence in investment … and paralysis of planning for the industry’s future.
Read the entire report here: OHRIA-Report-FINAL Aug 6, 2013