Owner Provides Hastings With $1 Million Interest-Free Loan To Extend 2021 Season - Horse Racing News | Paulick Report

Owner Provides Hastings With $1 Million Interest-Free Loan To Extend 2021 Season

Hastings Racecourse in Vancouver, British Columbia

Racehorse owner Glen Todd, who operates as the North American Thoroughbred Horse Company, has provided a $1 million interest-free loan to the purse account at Hastings Racecourse in Vancouver, British Columbia. According to the Vancouver Sun, that funding will allow the track to extend the 2021 race season by another month.

The purse account is generally funded by online wagering platforms, the casino, and trackside wagering. With COVID-19 shutting down Hastings in March of 2020, there was only enough money for 25 race dates that summer. This year, again, there was only enough revenue to support 25 race dates from May 3 to Aug. 2.

“People were getting desperate, we were going to have to lay all these people off, they had no where to go with their horses,” Todd told the Sun.

With the additional funding Todd provided, racing will now continue through Aug. 31. David Milburn, president of the local Horsemen's' Benevolent and Protective Association, said the hope is that the extra month of racing in August will allow revenue streams to rebuild enough to continue funding purses through additional race dates in September.

Milburn also said Hastings has received no assistance from the provincial government during the pandemic.

“We are asking the government to step up to ensure the jobs of the people that work with the horses, and the people who live here who call the track home,” Milburn told the Sun. “We continue to engage with government and we are hopeful.”

Read more at the Vancouver Sun.

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