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Lawson: Woodbine Seeks ‘Meaningful Role’ In Sports Betting Landscape

Woodbine Entertainment in Ontario, Canada, reiterated its support for the legalization of single event sports wagering and is confident the horse racing industry, and the more than 50,000 jobs it supports across the country, will be protected.

“We continue to be very supportive of the legalization of sports betting and are confident that through the legislative process the government will protect the industry that supports tens of thousands of jobs, generates significant economic activity, and is a way of life for thousands of Canadian families,” said Jim Lawson, CEO, Woodbine Entertainment.

In November, Woodbine Entertainment stated its support for Bill C-13, a proposed bill introduced by the federal government to legalize single event sports wagering that contemplated the potential for unintended consequences to the horse racing industry by including language to protect it. Subsequently, Private Members Bill C-218, an act to amend the Criminal Code of Conduct regarding sports betting, was voted on and passed overwhelmingly at second reading in the House of Commons on February 17.

Woodbine Entertainment is confident that Private Members Bill C-218 will also adopt language through the legislative process to protect the long-term sustainability of the horse racing industry.

“Sports betting in Canada is a significant opportunity for the Canadian economy and equally exciting for sports bettors,” Lawson added. “We remain highly focused on ensuring the horse racing industry not only is protected but has an opportunity to participate in it in a meaningful way.”

Woodbine Entertainment has legally operated single event wagering through a pari-mutuel model in a highly government-regulated industry for many decades.

“Throughout our future discussions with government authorities, we look forward to demonstrating how we can play a meaningful role in the execution of the legalization of sports betting that leverages our industry-leading experience and technology in single event wagering, while also offering a solution that would ensure any profits derived from sports betting remain in our provincial economy,” Lawson said.

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Meet Shortened By Nearly One Third, Woodbine Handle Drops Only 10.5 Percent

Woodbine Entertainment announced Friday that the shortened 2020 Thoroughbred meet produced an all-sources handle of $462,041,545.76, down more than $50 million compared to 2019 ($516,189,419.44).

The 2020 Thoroughbred meet at Woodbine Racetrack included 96 race days as a result of starting late and finishing early. The COVID-19 pandemic postponed the start of the season from April 18 until June 6 and forced it to finish prematurely on Nov. 22, instead of Dec. 13 as scheduled. The shortened season included 35 less race days and 305 less races than in 2019.

“Like many businesses, the COVID-19 pandemic significantly impacted our business and the entire horse racing industry in Ontario,” said Jim Lawson, CEO, Woodbine Entertainment. “However, I am very proud of how we responded and look forward to working with all of our stakeholders as we continue to manage the ongoing impacts caused by the pandemic.”

The shortened season, which had 28 percent less race dates than scheduled (133 race days were originally scheduled), was a primary contributor to a 10.5 percent decrease in all-sources handle. The closure of Woodbine Racetrack and Woodbine Mohawk Park to the public, and the closure of Woodbine Entertainment's Champions' Teletheatre Network, were also significant contributors to the decrease in handle.

“The fact that we were able to limit the decrease in handle to 10.5 percent despite losing nearly a third of our scheduled race dates speaks to the strength of our Thoroughbred racing product and our extensive efforts and focus on our wagering business in response to the pandemic,” said Lawson.

In Woodbine Entertainment's Home Market Area, wagering on Woodbine Thoroughbred racing was $54,810,867.06, down 41 percent compared to last year. In 2019, Woodbine Racetrack contributed $28 million to the all-sources handle on Thoroughbred racing. This year, Woodbine Racetrack only contributed $124,000 to the overall handle due to being closed to the public for most of the year.

However, wagering on Woodbine Thoroughbred racing continued to be strong in Foreign Markets, generating $391,395,974.30 in all-sources handle, which is down less than three percent, despite running 27 percent fewer race cards.

Handle per race was also strong at $509,417.36, up 19.6 percent year over year.

Field size per race was 8.9, up from 8.2 the year prior. The eight and a half percent growth in field size was believed to be a result of the postponed start.

“With the start of the season being postponed more than a month, this allowed more horses to be ready for the start of the season which resulted in increased field sizes,” said Lawson. “While any growth in field size is always encouraging, it continues to be a focus for us as it is impacting our ability to maximize our wagering handle and support the purse payments.”

Although The 161st Queen's Plate was not able to welcome spectators this year, it generated the third highest handle in its history. The 13-race card generated a total of $14,532,678, including $3,494,496 on The Queen's Plate race that saw one-eyed Mighty Heart live up to his name, defeating his 13 rivals after going off at 13-1.

“Overall, we will reflect back on this season as a year of overcoming many challenges that will only strengthen and benefit our industry moving forward,” said Lawson.

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No Reversal By Ontario Government; Woodbine Meet Officially Over

Woodbine Entertainment provided the following update on the 2020 Thoroughbred meet:

Despite efforts to gain approval from the government of Ontario to safely complete the 2020 Thoroughbred meet, we have made the decision to officially cancel the remainder of the season.

“While I am extremely disappointed we are not able to complete the 2020 Thoroughbred meet, what we achieved this year in face of significant adversity is quite remarkable,” said Jim Lawson, CEO, Woodbine Entertainment. “I have been around horse racing my entire life and I can proudly say that I have never seen the industry come together as it did throughout this year.

“Together, we were able to develop, implement and follow strict COVID-19 Prevention Protocols that allowed us to be the first sport to return to competition in Canada since the shutdowns in March,” said Lawson. “We safely resumed racing in early June and ran almost 100 racing cards, more than 900 races, and the majority of our stakes schedule, including the 161^st running of The Queen's Plate.

“We hope the government of Ontario has gained a better understanding of our business and appreciation of our safety record in operating live racing without spectators.”

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Canadian Sports Betting Bill: Woodbine Supports Exclusion Of Racing From Fixed Odds Wagering

In response to the federal government introducing a bill that proposes to legalize single event sports wagering in Canada, Woodbine Entertainment would like to congratulate the government of Canada for considering the potential impacts to the horse racing industry.

While the proposed bill to amend the Criminal Code would permit single event sports betting on most sports, Woodbine Entertainment is pleased that under the new proposed legislation, fixed odds wagering will not be permitted on horse racing.

“On behalf of the entire horse racing industry and the more than 50,000 jobs it represents throughout Canada, I would like to congratulate the government of Canada and Minister Lametti for clearly considering the interests of horse racing as related to the potential legalization of single event sports wagering,” said Jim Lawson, CEO, Woodbine Entertainment.

“We look forward to continuing to represent the views of the horse racing industry throughout the legislative process in the House of Commons and the Senate of Canada to ensure that our role continues to be supported and strengthened where possible,” said Lawson. “This includes collaborating with the federal and provincial government in future discussions regarding the impacts sports betting may have on horse racing while looking to enhance opportunities that would benefit the industry and the tens of thousands of people it employs.”

Woodbine Entertainment also offered its support for the legalization of fixed odds single event sports betting so long as it is provided an opportunity to be involved in a meaningful way.

“For many decades, Woodbine Entertainment has legally operated single event wagering through a pari-mutuel model, earning the trust of bettors and government agencies, while developing safe and secure technologies that could also benefit single event sports wagering,” said Lawson. “Throughout our future discussions with government authorities, we look forward to demonstrating how we can play a meaningful role in the execution of the legalization of sports betting that leverages our industry-leading experience and technology in single event wagering, while also offering a solution that would ensure any profits derived from sports betting remain in our economy.”

Operating without share capital, Woodbine Entertainment's sole mission as an organization is to sustain the Ontario horse racing industry and the tens of thousands of jobs it supports.

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