Hastings Racing to End Without Slot Revenue
Hastings Park has officially announced the end of Thoroughbred racing, a significant shift after over 130 years. This announcement came on December 5, 2023, following a directive from the provincial government that halts the distribution of slot machine revenue to horse racing, effective January 31, 2026.
Impact of Slot Revenue Loss on Hastings Park
Hastings Park had introduced slot machine gaming in 2008 as part of a scheme to enhance gaming in British Columbia. The revenue generated from these slots, which was estimated between CA$8 million and CA$10 million annually, helped sustain horse racing purses. However, due to concerns that slot machines negatively impacted track handles, a decision was made to cease revenue sharing.
A Statement from Great Canadian Entertainment
Wayne Odegard, regional vice president for Great Canadian Entertainment, which has operated Hastings Park since 2004, acknowledged the difficult nature of this decision. He stated, “This was an extremely difficult decision, especially given the historical legacy of Hastings Racecourse.” He emphasized that the closure was primarily a business decision fueled by economic challenges regarding the viability of future racing seasons.
Future of Racing in British Columbia
- The closure of Hastings Park marks the end of significant Thoroughbred racing in British Columbia.
- No horses are presently stabled at the track.
- The casino and simulcast racebook at Hastings Park will remain operational.
The cessation of operations at Hastings raises concerns about the future of horse breeding and racing in the province. Many owners, trainers, and breeders will now explore opportunities outside of British Columbia, particularly considering Emerald Downs, the nearest track located three hours south in Washington State.
Broader Industry Implications
This situation reflects a larger trend as other jurisdictions contemplate separating casinos from horse racing operations. Although casinos tend to be more profitable, this shift can threaten the foundation of the racing industry. Observers recall the decline of greyhound and Standardbred racing after similar decoupling measures were introduced in other areas.
As the final significant Thoroughbred racing facility in British Columbia, Hastings Park’s closure leaves the local racing community in a challenging predicament. Odegard expressed a commitment to supporting impacted team members and racing participants throughout this transition.
The end of an era at Hastings Park highlights the pressing issues within the horse racing industry. Without immediate recovery efforts, many involved may need to pivot towards different avenues for their racing aspirations.
