The Red River Exhibition Association (RREA) has a plan to save horse racing in Manitoba while creating a "multi-purpose entertainment destination centre" at the western edge of Winnipeg.
Garth Rogerson, the CEO of the RREA best known for running the Red River Exhibition, a 10-day carnival and midway held every June, said he has presented the province with a proposal to take over neighbouring Assiniboia Downs.
Rogerson said his organization would inject a "significant amount" of capital into the Downs to make it part of his big entertainment vision, which would feature concerts and events such as motocross racing and monster trucks.
The popularity of horse racing, both as a spectator event and a driver of gaming revenue, has been declining for many years, he said.
At the same time, Rogerson believes his plan could be done with just half of the $10 million subsidy that the Downs receives each year from the province.
The RREA proposal has the blessing of Manitoba Finance Minister Stan Struthers.
"We have to be thinking creatively in terms of reducing the amount of taxpayer support and also putting forward a multi-use plan that will contribute to our provincial economy," Struthers said.
The plan, however, needs the approval of the Manitoba Jockey Club, which has run the Downs for the last 20 years. President Harvey Warner has not been involved in any of the RREA discussions and said he doesn't appreciate the backroom dealings.
Sources close to the situation say if the province cuts its subsidy to the Downs in the upcoming budget, it will be forced out of business.
from Western Investor March 2013
