The following is an update of recent activities since the casinos re-opened on July 1, 2021. Early indications from the available information is that the casino’s initial business is very good. Business has been better than forecasted or expected so this news is encouraging for the benefit of supporting horse racing at Fraser Downs. Our current tentative plans are working toward a start of racing sometime during the week of September 20, 2021. It would be expected that for the first 4 weeks racing would be 1 day per week and beyond that, if horse population allows, 2 days per week for the balance of the year. We should be able to confirm all specifics i.e. race days, purse structure, gate schooling, qualifiers, stakes etc. by early August, once we get a better feel for the performance of the casinos and a response to the pending decision on the request for provincial government funding.
BC Broodmare and BC Bred bonus cheques have been issued and have been picked up, mailed or in the mail currently. The 50% balance that is owed for these two incentives will be paid when the budgets allow. We will update once we receive further allocations from TBC. The foal incentive is continuing and as soon as your foal is registered with Standardbred Canada the payment can be initiated.
We are currently taking entries for the annual live yearling sale scheduledtentatively for Thursday, October 26, 2021. The cut off for entries is Thursday, July 15, 2021. Once we receive all entries a final determination can be made whether the number of entries make it financially viable to conduct a live venue yearling sale.
The racebook at Fraser Downs is currently closed since the casino has a cap on the number of customers allowed into the building and anyone entering the racebookwould be counted against that cap. If the racebook had its own entrance and could be self-sufficient with its own facilities it could be facilitated. The racebook at Hastings is allowed to open for a period between 5:00pm and 8:00pm on live race nights only. We along with the thoroughbreds and TBC are currently in ongoing negotiations with GCGC to restructure the racebooks at both Hastings and Fraser.
Stall applications will be sent out, hopefully by next week. It is important that they be filled in with all the required information as it will be a major tool in determining our current horse population. Jeff Waltenburgh and Darren Pollowayhave volunteered to coordinate the stall application process. Your support and cooperation is appreciated.
Discussions continue with, we assume, Apollo Global Management and GCGC as we have received no new updates to the anticipated finalization of the purchase/sale. We did have a discussion with Doug McCallum, Mayor of Surrey, this week who was very interested in an update on our current situation and our plans for racing. He assured us that he will inform HRBC of any issues that relate to the existing lease between GCGC and the city of Surrey, likewise we told him that we would also communicate any information we felt necessary.