After a nine-year absence, thoroughbred racing returned to the Calgary area this season at Century Downs Racetrack and Casino.
The provincial government signed a 10-year agreement with Horse Racing Alberta, which the NDP estimates will bring 1,600 jobs.
READ MORE: New racetrack a ‘lifesaver’ for Calgary’s horse racing industry
The Alberta government also says the deal will bring millions of dollars in investment in racing infrastructure, including a new track in the Edmonton area.
In a news release Saturday, the government said horse racing generates an estimated $290 million in economic benefits for Alberta.
“The return of thoroughbred race horses to Century Downs is an important signal that the industry is thriving,” Joe Ceci, president of the treasury board and minister of finance, said. “Continued support of rural communities is just one way we’re working to bring the economic recovery to the homes of each and every Albertan and working to make life better for all Albertans.”
READ MORE: AGLC approves horse racing track near Edmonton International Airport
The new agreement includes Horse Racing Alberta receiving a share of slot machine proceeds from Racing Entertainment Centres. For the 2017-18 year, that’s forecast to be $35 million. No tax dollars are used in the agreement.
“Alberta is now poised to be a leader in horse racing in Western Canada and North America and that is directly attributable to the confidence and sustainability the funding agreement provides,” Paul Ryneveld, general manager of Century Downs Racetrack and Casino, said.
Additional revenue from slot machines is directed to the Alberta Lottery Fund, which supports thousands of volunteer and community organizations throughout the province.
READ MORE: Century Casinos plans to build new horse-racing track south of Edmonton
Thoroughbred racing is also expected to return to the Calgary area at Century Downs for the 2018 season.
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