British Columbia ends slot revenue for horse racing

The government of British Columbia will end slot machine revenue for horse racing effective Jan. 31, causing further concern over the future of racing at Hastings, the only track remaining in the province.

The decision to end machine revenue for horse racing was announced via a letter signed by British Columbia minister of public safety and solicitor general Nina Krieger, which was sent out to Horse Racing BC on Tuesday. The announcement was previously reported by Matt Hegarty of Daily Racing Form.

"The decision has been made after careful analysis of the current economic impact and long-term projections for the industry, which have shown that even with significant and ongoing government investment from casino-generated revenue, the industry is not sustainable due to a range of factors, primarily declining revenues and public participation and attendance at horse racing events," Krieger's letter said.

Great Canadian Entertainment, which has owned the Hastings racetrack assets since 2004, announced Nov. 7 that it had entered a definitive agreement to sell the track to the Tsliel-Waututh Nation. The sale had been on the horizon since June 6, when the parties signed a memorandum of understanding to explore the sale. The final closing and approvals are still pending. That includes approval from the city of Vancouver, which owns the land on which Hastings stands.

A message sent to horsemen via Horse Racing BC's Substack account on Thursday announced that an emergency meeting of the British Columbia Horsemen's Benevolent and Protective Association Board of Directors as scheduled for Thursday evening. The letter continued, "until we have hard facts to relay to HBPA members, there will be no speculation as to what comes next although, clearly, this latest news is as serious as it was unexpected.

We know this announcement will cause shock, anger, and uncertainty. We share those feelings. But we also know the strength and resilience of the people who make up this industry and we will keep you informed frequently as we assess next steps and chart a course forward."

Horse racing in British Columbia showed multiple signs of strain this year, even before the retraction of slot revenue. Hastings vacated two race dates in September and two more in October after a dim financial report. Fraser Downs, a harness track in Surrey, BC that is owned by Great Canadian Entertainment, was shut down in August after the city of Surrey terminated the track's lease. That shutdown was announced Aug. 15, less than three weeks before a harness meet had been scheduled to begin on Sept. 4.

The current lease from the city on the Hastings property is set to end in May. There have been discussions of a possible new stadium on the site for the Vancouver Whitecaps, the city's Major League Soccer franchise. There has also been a decades-long campaign, dating from before Great Canadian bought Hastings, to turn the land into a park.