Second Amendment to Amended and Restated Funding Agreement For Live Horse Racing

December 18, 2020 – Ontario Racing (OR) commends the Ontario government for changes it is making to the Long-Term Funding Agreement (LTFA) for horse racing to further support the industry during these challenging times. Changes to the LTFA will support a strong and stable horse racing industry and give it time to recover from the pandemic. The amendments will also ensure continued support for local employment and for Ontario’s fifteen racetracks until 2026.

“Like many other industries in Ontario, horse racing has been significantly impacted by the pandemic,” said John Hayes, Chair of Ontario Racing. “I want to thank the Ontario government for focusing on the stability and recovery of this important industry and for extending support for racetracks during this difficult time.”

The LTFA, which came into effect last year, is providing stable financial support for racetracks, horsepeople and breeders over a 19-year period. The amendments to the LTFA recognize the impact of the pandemic on the industry and will maintain support for all fifteen racetracks in communities across the province until 2026.

The amendments were approved by all four parties to the LTFA – OLG, Ontario Racing (OR), Ontario Racing Management and Woodbine Entertainment Group. The Board of OR includes representatives of racetracks, horsepeople and breeders of thoroughbred, standardbred and quarter horses.

To view a copy of the amendment, please click here