The Dresden Raceway has received a 25 per cent financial boost to its prize money.
The province announced the total prize money or purses paid out to horse owners, trainers, and jockeys/drivers of winning racehorses will increase from approximately $44,182 per race date during the fiscal year of 2026 to nearly $55,448 during the same period in 2027.
The purse money primarily comes from a long-term funding agreement between the provincial government, the Ontario Lottery and Gaming Corporation (OLG), and Ontario Racing.
Lambton-Kent-Middlesex MPP Steve Pinsonneault called Dresden Raceway a longstanding part of the community and an important piece of our province’s heritage.
"This investment supports Ontario’s horse racing industry while also strengthening local jobs, small businesses, and the community traditions that rely on it," said Pinsonneault. "Tracks like Dresden Raceway play an important role in bringing people together and preserving our heritage. Our government remains committed to supporting this important industry and the communities that help keep it strong."
The prize money for Dresden Raceway is part of an announcement by the Ontario Government to increase funding by $35 million annually across the board for the next five years.
Ontario Racing, the horse racing industry association that governs, promotes, and organizes horse racing across the province, welcomes the additional funding, saying nearly 18,000 Ontarians earn a living from the horse racing sector.
They said the extra money will address inflation that has risen by approximately 25 per cent since the province signed the funding agreement with the industry eight years ago.
The additional funds will also position the Ontario horse racing sector to better invest in breeding, capital infrastructure, and purses, according to Ontario Racing.
“This funding will support generational family businesses, including thousands of horse people, breeders and their staff that have invested personal capital," said Andrew Gaughan, Chair of Ontario Racing. "It will also support rural labour jobs that have increasingly been at risk. Additional funding will help these businesses, operators, and the spin off rural industries tackle high inflation and allow the sector to better compete and retain its status as one of the world’s greatest horse racing jurisdictions."
OLG numbers show the horse racing industry in Ontario injects over $1.9 billion a year to the Ontario economy and provides approximately $330 million in provincial taxes, Ontario Racing noted.
