Nick Eaves, the C.E.O and president of Woodbine Entertainment group, has dropped a bombshell,
“This could be the last Queens Plate event”
The C.E.O, speaking to the press said of his company plans to do the unthinkable if the Ontarian government does not recede on its plans of removing slots machines from the provincial racetracks.
“If we don’t have an operation model that is able to take us past April 2013, then I see no possibility of us operating and this means that we won’t be having the Queen’s plate,” said the C.E.O
This year, the 153rd edition of the event of the event will be held, and to think that this will be the last event will definitely send jitters to many stakeholders who have greatly benefitted from the event since its inception.
The C.E.O was quick to add that this move should not be seen as a threat to force the government to act otherwise.
“This move need not be interpreted as a threat by anyone, it should however be seen as a realistic outcome if something that has been of great benefit to many stakeholders is not replaced with something that is beneficial to the overall game”
Eaves, pointed out that the company had invested heavily in company and such a move will be disastrous to the company
“The company has invested over $400 million, and change the scope of business over the ears to make it more beneficial to all stakeholders”
Since Ontario premier Dalton McGuinty announced that, the slots would end on 13 March. The announcement has generated opposition from stakeholders who are of the opinion that source of live hood will be affected. Former liberal Member of Parliament, Dennis Mills has come out openly to oppose the expected change.
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McGuinty government seeks to streamline its gambling industry to include more outlets and casinos. The government has already implemented this plan and shouts out slots in the following racing tracks: Hiawatha Horse Park, Fort Erie Racetrack, and Windsor Raceway.
Only time will tell if this is the last time we are seeing of the Queen’s plate, or if the government will succumb to pressure and revert its decision which has generated more heat than light.