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The government also plans to restructure the Ontario Racing Commission into two divisions: one that will continue to regulate the industry and a separate one to distribute funding and work with the OLG on industry development.
The panel had earlier concluded the slot machine revenue had accounted for 64 per cent of the annual income for the horse racing sector, and more than 60 per cent of purse money.
The amount of money available for the purses next year about $130 million will be a little more than half of what it used to be.
"I believe that this plan will make that happen."
"There wasn't a requirement for the kind of transparent business plan that I think we need from all of the tracks," she said.
"There are still many aspects of the report which need further dialogue and clarification especially in Nike Hoodie Black Womens
Wynne said horse racing will be integrated into a provincial gambling strategy with Ontario Lottery and Gaming Corp. to find new revenue streams.
Former cabinet minister Nike Windrunner Men's Jacket Black and panel member Elmer Buchanan will become chairman of the ORC, pending approval by cabinet and a legislative committee, the government said.
"And so what I want is to have an industry that is wide open to the public, that people understand how it works. That's why we needed to recalibrate."
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"So thousands of people have been thrown out, and the fact of the matter is, it's criminal what they did."
Sue Leslie, president of the Ontario Horse Racing Industry Association, said while there are many positives to come out of the report, work remains to be done on standardbred grassroots racing and thoroughbred racing at Fort Erie Race Track.
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It's the "last straw" for people who relied solely on horseracing for their livelihoods, he said.
The slots at racetracks program wasn't transparent or accountable, and the new measures will ensure that everyone knows where the money is going, the premier said.
The five year plan was devised by a three member panel appointed by the Liberals after they cancelled the slots at racetracks program, which brought in about $345 million a year for racetracks.
"This is probably the death knell for the Fort Erie Race Track, a town I grew up in," he said in Toronto.
Racetracks will need to provide business cases to get the provincial money.
400M for horse racing industry
a standard bred racing alliance to operate a "world class racing circuit" with eight tracks Hanover, Clinton, Grand River, Western Fair, Flamboro, Georgian, Mohawk and Woodbine.
"I believe that this industry has the capacity to be and is dynamic and exciting, and it's one that can deliver the products that today's customers want and that provide economic benefits to the communities that house Ontario's racetracks," Wynne said.
"Immediately today, have your hours cut and your days of work cut and your wages cut, and see if it remains viable for you to maintain that job," Natyshak said. "Many would say no."
It's an "investment in the future," she said after making the announcement at the Grand River Raceway in Elora.
The panel doesn't support a full race calendar at Fort Erie's track, based on its business plan and quantity and calibre of racing. But it endorses the current 30 day calendar at Ajax Downs.
TORONTO Ontario's governing Liberals will spend up to $400 million over five years to help shore up the province's struggling horse racing industry, Premier Kathleen Wynne said Friday.
Conservative critic Jim Wilson, who represents Simcoe Grey, said the damage has already been done in rural Ontario.
The minority Liberals, propped up by the New Democrats, are probably going to shutter the doors on a 125 year old institution "and toss all the people out of work," Hudak said.
Progressive Conservative Leader Tim Hudak said he was "deeply saddened" by the panel's position on his hometown's racetrack.
It will reduce industry costs and enhance revenues by concentrating all resident based thoroughbred live racing at Woodbine, the report said.
relation to grassroots racing, the survival of racing at Fort Erie Race Track and securing the necessary investment to ensure the breeding industry survives its severe decline," Leslie said in a release.
report Friday that recommended the government inject up to $80 million a year in the sector starting next April, mainly to help cover purses and the costs of live racing.
What it means is horse people will have to travel further to compete for less money and have fewer chances at winning, said New Democrat Taras Natyshak.
"Along the highways and back roads, you see horse equipment, horse trailers, buggies everything up for sale in the ditches. A lot of the farms have gone bankrupt," he said.
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