Fort Erie racing consortium looks to future
Strategic plan will guide racetrack through next seven years
Work has begun on a strategic plan that is intended to see Fort Erie Race Track through the next seven years of operations.
In a news release, Fort Erie Live Racing Consortium said its strategic plan will focus on developing revenue and expense models that will make the track more sustainable.
“As we finalize our budget for 2019, we know that there will be many improvements for the upcoming racing season,” said chief operating and financial officer Tom Valiquette. “Most notably for our horse people will be a 20 per cent increase in purses, which will help improve the economics in our backstretch and provide better racing for our customers.
“Our fans will see many improvements to our venue as well, such as updates to our dining room and a new infield tote board.”
Chief executive officer Jim Thibert said the track will continue to build on its success over the time the consortium has been in charge.
“After nine years of operating Fort Erie Race Track, we have demonstrated the experience necessary to make each year more successful than the last,”
said Thibert.
“As everyone knows, it has been an uphill battle for financial resources. New this year are the financial benefits from our membership in Ontario Racing Inc. The stability this organization is bringing to the racing industry and the additional funding from the Ontario Lottery and Gaming Corp. is supporting FELRC to be more stable, plan for growth and have a confident future.”
The strategic plan will focus on the following four areas:
• Improving the race economics for horse people, which will in turn improve the racing product offered at Fort Erie.
• Increasing compensation to staff to ensure FELRC is competitive in maintaining quality, experienced and enthusiastic staff with unique skill sets and leadership capabilities.
• Address immediate and critical capital needs. In 2019 we will undertake approximately $1.8 million in capital improvements, including roof work, water truck replacement, replacement of track rails, switchover to highdefinition broadcast transmission and viewing equipment (as required by the Alcohol and Gaming Commission of Ontario), food and beverage system improvements and other necessary maintenance to the facility.
• Enhancements to the venue, such as a new infield tote board, that will serve our fans and improve the customer experience.
In addition to beginning work on the strategic plan, two new members were added to the consortium’s board of directors.
Garry Possler and Stanley Fishman will serve on the board in at-large positions, joining Ted Mansell, representing the employee groups from Service Employees International Union, Nick Gonzales and Conrad Cohen representing the horse people, and treasurer Richard Gorham.
The 2019 season will include 40 race days, running Tuesdays and Sundays, May 28 through to Oct.
15. The 84th running of the Prince of Wales Stakes, the second jewel in the Canadian Triple Crown, is scheduled for Tuesday, July 23. More information about events and a detailed racing schedule can be found at www.forterieracing.com.