Ontario Liberals reach funding deals with three more racetracks

LUCAN, Ont. – The Ontario Liberals say they’ve reached transition funding agreements with three more racetracks to replace their cancelled revenue-sharing slots program.

Premier Kathleen Wynne says her government has signed deals with Fort Erie racetrack, Flamboro Downs and Georgian Downs.

Wynne says the province is on track for a sustainable horse racing industry, but it will be smaller.

She says her government is saving jobs, even though some have been lost.

The Liberals shocked the sector last year when they cancelled the $345 million a year share of slot machine revenues that went to tracks.

Several tracks closed or announced plans to close in the wake of the announcement.

A government panel found the slot revenue accounted for 64 per cent of the annual income for the horse racing sector in Ontario, and more than 60 per cent of purse money.