To prepare for the implementation of the new five-year Horse Racing Partnership Plan to help Ontario’s horse racing industry, the government of Ontario is making available new funding that will assist the industry to develop business plans and marketing strategies.
On October 11, 2013, the government announced its new five-year plan for Ontario’s horse racing industry. The government will support the horse racing industry by:
– providing up to $400 million over five years to sustain a wide range of racing opportunities;
– integrating horse racing with the Ontario Lottery and Gaming Corporation’s modernization plan; and
– restructuring the Ontario Racing Commission into two divisions — one that will continue its existing regulatory functions and a separate new division to support industry development.
The plan encourages the industry to grow wagering revenues and enhance its fan base by creating and offering products consumers want. Communities will continue to see significant economic benefits from live racing and the breeding and training industries that it supports.
Business Case Development Fund
Under the Business Case Development Fund, racetrack operators may apply for up to $90,000 in cost-share funding to help offset the costs of hiring a third party consultant(s) to develop a strong three- to five-year business case.
Racetracks must submit a business case to be eligible to receive operational funding under the Horse Racing Partnership Funding Program, starting April 1, 2014.
Marketing Innovation Fund
The Marketing Innovation Fund will support the development of business cases for innovative marketing initiatives that are new to Ontario and would grow the horse racing fan base or enhance wagering revenues. Partnerships to develop these initiatives are strongly favoured. Up to $18,000 in cost-share funding is available under this initiative.
For More Information
For more information on the Business Case Development Fund or the Marketing Innovation Fund, please contact the Agriculture Information Contact Centre at 1-877-424-1300