Alberta Horse Racing (HRA) is pleased to announce increased funding for the 2024 Budget Allocation and the Breed Improvement Program (BIP). Due to higher-than-expected revenue performance from our Racing Entertainment Centers, the Audit and Finance Committee has recommended a $400,000 increase to the 2024 Purse Allocation and a $120,000 increase to the 2024 BIP. This proposal was approved by the HRA Board of Directors on May 24, 2024.
“We are delighted to share this great news with the horse racing industry in Alberta,” said Kent Verlik, CEO of Horse Racing Alberta. “The 2024 purse will increase by $400,000 from $14.5 million to $14.9 million and BIP funding will increase by $120,000 from $4.2 million to $4.32 million.”
HRA’s breed improvement program aims to produce high quality Alberta-bred horses. Each breed organization has its own methods of capital allocation, all aimed at injecting capital into the industry to help offset the costs of foal crop production and support breeder sustainability.
For more information about Horse Racing Alberta’s operations and financial projections for 2024-2026, please visit https://thehorses.com/about/documents and scroll down to the Business Plan section.
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