NEWS
Deal in works to buy, save Fort Erie
Posted: Friday, February 13, 2009 8:00 PM
by Perry Lefko
There may yet be a call to the post for racing this year at Fort Erie.
The Horsemen’s Benevolent and Protective Association of Ontario, the town of Fort Erie, and the Fort Erie Development and Tourism Corporation are joining together to offer a non-refundable down payment of $2.25-million for the purchase of Fort Erie from Nordic Gaming Inc.
Nordic has conditionally applied to the Ontario Racing Commission for 78 race dates this year as of May 1, pending some financial assistance. Nordic claims to have lost between $3-million and $4-million each of the last four years due to added competition from casinos.
As part of the deal, Nordic must agree to start racing on schedule and allow the parties involved until August to review with the Province of Ontario the formation of a not-for-profit corporation.
Perry Lefko is an Ontario-based Thoroughbred Times correspondent
