Manitoba Government, Manitoba Jockey Club Reach Settlement

This agreement recognizes that MJC has entered into a partnership with Peguis First Nation which, in the long run, will enhance revenue streams at ASD.  With today’s agreement, the government is providing a bridge to MJC that intends to get it into a position where it will be able to enjoy the benefits of those enhanced revenue streams, while maintaining sustainability for horse racing in the interim.

The key elements of today’s agreement are as follows:

• A VLT siteholder agreement has been entered into by MJC with Manitoba Liquor and Lotteries Corporation.  The term of this new siteholder agreement is for 12 years, during which time the same number of machines, 140, will continue to be located at ASD.
• During the first 10 of those years, the government will provide supplementary funding to MJC in the form of grants as follows:In Years 11 and 12, there will be no grants.  At that point, the revenue to MJC will be the revenue generated through VLT commissions and contributions alone under a VLT siteholder agreement.
  •     Years 1 to 4:  $5.40 million;
  •     Years 5 and 6:  $5.25 million;
  •     Years 7 and 8:  $5 million;
  •     Year 9:  $4 million; and
  •     Year 10:  $3 million.