Horse Track News: FELRC Press Release

Monday, February 4, 2013 – The Board of Directors of the Fort Erie Live Racing Consortium (FELRC) met today in an emergency meeting to bring Board members and constituents up to speed on the latest developments in progress towards negotiating a racing season for 2013 and beyond.
“First and foremost”, said Jim Thibert, Chief Executive Officer of the FELRC “is the news that we have a proposal with our landlord to significantly reduce our lease rate for the Fort Erie racetrack”. The current lease, which was to expire December 31, 2012, was extended by mutual agreement to March 31, 2013 and calls for annual rent payments in the amount of $650,000 to the Nordic gaming Corporation (El Ad Canada).

In an effort to develop a business case in shared goals with the Province, to work towards sustainability on an industry-wide basis, the FELRC shared its financials, audited statements, business plan and financial projections with both the Province and the FELRC’s landlords. As a result, Nordic Gaming Corporation (El Ad Canada) which has always worked closely with the FELRC, has offered FELRC a two-year extension commencing April 1, 2013 with an annual rental payment of $395,000 per year.

To read the full media release click Here

3 thoughts on “Horse Track News: FELRC Press Release

  1. Lesley North

    Kudos to Jim Thibert and Mayor Martin and all others that have worked endlessly to save the track and job in Fort Erie. Racing is part of our past and a big part of our future. Thank for all your hard work. Great News! A step in the right direction.

  2. Mike Cloutier

    I’m sure it is because you want to make sure there is a differentiation between the Fort Erie Race Track and the proposed Canadian Motor Speedway, but the use of the term “Horse Track” sounds so un-Fort Erie like. Generations of locals have referred to the 115-year-old facility as the Racetrack or simply the Track, and to my thinking it should remain so. To allow reference to it to evolve into Horse Track would allow its existence in our collective soul to fade. We have established Speedway to refer to the Canadian Motor Speedway and the Fort Erie Race Track is the Racetrack — its even in their respective names.

    Also another quirky thing: The proper name of the racetrack is Fort Erie Race Track (two words), and the noun in general reference is racetrack (one word).

    1. Kelly Davis - Moderator Post author

      Thanks Mike. You are correct. We get quite a few people getting the two tracks mixed up: (1) Proposed Canadian Motor Speedway and the (2) Fort Erie Race Track (horses). If this were seen by locals only it wouldn’t be a problem but we have a lot of folks from outside the area following the CMS development via our social media sites so we try to make the distinction obvious.

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