Horse breeders in British Columbia are deeply concerned about the future of horse racing in the province following an announcement from the government regarding the discontinuation of revenue sharing 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 share of slots revenue from Hastings Casino in Vancouver and Elements Casino in Surrey would no longer be allocated. Hastings Racecourse and the now-closed Fraser Downs course in Surrey were directly impacted by this decision.
The province cited a review of the industry revealing its unsustainable nature without substantial additional government funding, which could not be assured due to facing a significant deficit.
Gary Johnson, Chair of Thoroughbred Racing B.C., expressed shock at the news, emphasizing the significant financial impact estimated at around $8 million. The industry is already facing financial challenges exacerbated by the effects of the COVID-19 pandemic and rising costs.
Thoroughbred Racing B.C. is in talks with Great Canadian Entertainment, the current owner of Hastings Racecourse, to potentially reduce the number of race days in response to declining slot machine revenues from both Hastings and Fraser Downs.
A spokesperson for Great Canadian Entertainment stated they are reviewing the government’s decision and plan to engage with industry partners soon.
The closure of Fraser Downs earlier this year dealt a severe blow to the standardbred horse breeding community in B.C., leaving Hastings Racecourse as the sole operational track in the province. Industry representatives are exploring options to establish a presence in the B.C. Interior while facing an uncertain future.
Concerns have been raised about the potential loss of family farms and displacement of horses to other locations if the industry does not receive support or transition plans from the government.
Tory MLA Ian Paton criticized the government’s actions, pointing out the negative impact on the equine industry and urging the preservation of existing race tracks to support agricultural interests.
The decision to redirect the funding from slot machines to the B.C. Lottery Corporation’s general revenue after January 31 will impact various public programs and services, including education and healthcare, according to a Ministry of the Solicitor General spokesperson.
Despite the challenges faced by the horse racing industry in B.C., efforts are being made to navigate the changing landscape and seek sustainable solutions for its future.