At the recent board meeting a review was done of the HRBC monthly slot allotments. Allocations of money from the slots has fallen behind expectations, based on 2019 actuals, and therefore HRBC is not getting the funding required to fully fund all activities. The slots normally provide HRBC the major portion of our funding for all areas of horse racing. Our May allocation was closer to our expectations, and we would hope this trend continues.
Considering this current shortfall, we are experiencing, the bonus payments will be maintained, as they were in 2021, at a 75% payout rate. The actual cheques to members will be made in two payments in 2022 each representing 50% of the total earned. The first payment will be made in July of 2022 and the second payment will be made in September 2022. We will endeavour to get the July payment out as quickly as possible once all calculations and preparations are completed.
Also, the Board has made the decision to move forward with the Breeders Stakes for our Fall Meet. The stake will consist of four eliminations at $20,000.00 per heat ($15,000.00 if split) and a final for $100,000.00. The specific dates will be communicated as soon as available. The balance of the stakes for 2022 will be placed on hold for now until we have a clearer picture on the slot performance.Please feel free to contact the HRBC office if you have any questions.
The Board has agreed to set the purses of overnights for the upcoming Fall/Winter meet of 2022 at the same amounts as they were before this years extended meet in May and June, where the purses were reduced.