Kawartha Downs, province without deal as writ looms
Only three tracks would receive more than Kawartha Downs under province’s offer: Leal
Kawartha Downs general manager Orazio Valente remained positive an 11th hour long-term funding deal between the horse racing track and the province can be reached before the provincial government shuts down for the June 7 Ontario election.
“Never say never,” he said late Monday afternoon as he waited for a telephone call that he expects could advance a resolution as soon as Tuesday – one day before the writ drops. “It always seems to come down to the wire.”
Kawartha Downs was one of three Ontario race tracks that didn’t meet a May 1 deadline to sign the province’s 19-year funding agreement.
Agriculture, Food and Rural Affairs Minister and Peterborough MPP Jeff Leal feels the province has already made a fair offer to Kawartha Downs with potential for further assistance.
Ontario Lottery and Gaming staff reviewed Kawartha Downs financials which showed a
$70,000 shortfall on its 2017 harness racing operation, he told
The Examiner last week.
The agreement offers Kawartha Downs $200,000 a year for three years, $100,000 to increase purses and $100,000 for operating costs, Leal said.
Only three tracks received more than Kawartha, he said. This is on top of the existing $1,062,000 it receives annually. It more than exceeds their losses, he said. Applications will be available in mid-June and funds ready in July, he said.
“I have a great deal of confidence, based on my direction to set up this fund, that Kawartha Downs will be eligible,” Leal said.
“By working with OMAFRA they’ll be able to secure funding for the kind of projects they want going forward. I can guarantee that because it’s been set up with my direction.”
Valente said previously if the Liberals lose the election or Leal loses his portfolio his guarantee might be worthless.
The real issue is long-term tenant Shorelines Slots at Kawartha Downs leaving Oct. 31 – taking 85 per cent of Kawartha Downs’ revenue with it, he said.
If Kawartha Downs doesn’t sign the agreement it has one year left on its existing deal. May 26 is the first scheduled race date, but Valente hasn’t committed to opening.
- with files from Mike Davies, Examiner Sports Director