Racing Future CEO hails apparent breakthrough toward stabilizing Ontario Horse Racing Industry

TORONTO, Jan. 23, 2013 /CNW/ - After seven months of struggling to help save Ontario's racing industry in the wake of the McGuinty's government decision to withdraw slot machines from the province's racetracks, Racing Future is pleased to see the announcement of a new agreement between the province and Woodbine and other racetracks that holds the promise of restoring some financial stability to this important industry.

Racing Future is an advocacy organization, founded by former long-serving Member of Parliament and business executive Dennis Mills, that was asked by leading members of the industry to come to its assistance by educating the public at this time of peril to the very existence of the industry and of the 50,000 jobs it provides in Ontario.

"We applaud this important step that the government has taken with Woodbine and Mohawk racetracks, which represent some 60% of the revenue received by Ontario Lottery and Gaming" said Dennis Mills, the President and CEO of Racing Future.

"We commend everyone involved in coming to this agreement.  Jim Lawson, Chairman of the Board of Directors of Woodbine Entertainment Group, has correctly described it as 'offering stability while WEG and our partners in horse racing work with government towards a long-term sustainability solution', " said Mr. Mills.

"We are also pleased to note Ontario Ministry of Agriculture Food & Rural Affairs' mention of deals in principle with additional tracks. We anxiously await specifics as pertains to all race tracks as well as purses, and breeder's incentives, " Mr. Mills said.

He added that "We note that the list of tracks mentioned by Ontario Lottery and Gaming in their press release does not include Fort Erie Race Track and Ajax Downs. This causes us grave concerns."

SOURCE: Racing Future Inc.

For further information:

please contact Dennis Mills at 416-587-1716 or dennismills@racingfuture.com