(SURREY, B.C. - 20
December, 2004) - Great Canadian Gaming Corporation (GCC),
headquartered in Richmond, B.C., announced today that it has entered
into an agreement to acquire all of the assets of Orangeville
Raceway Limited, operators of Fraser Downs, Sandown Park in North
Saanich, B.C. and other horse racing interests.
Orangeville has been a
closely-held private company which originated with a small
standardbred racetrack in Ontario, followed by the founding of
Cloverdale Raceway (now Fraser Downs) in 1976. The patriarch of the
company was the late Jim Keeling Sr., a member of the Canadian Horse
Racing Hall of Fame. Another of the tight family group of departing
shareholders is a harness racing legend, Keith Waples, also a Hall
of Fame inductee.
Fraser Downs’ Bill “The Dominator” Davis (on the
left), a perennial
champion in the North American Universal Drivers’
Ratings System, and an accomplished trainer, is shown
with Fraser Downs general manager Chuck Keeling in the
backstretch, equally optimistic about what recent casino
approvals and reconstruction mean for the sport in
BC. |
In an open letter today
to staff and friends, Chuck Keeling, general manager of Orangeville,
emphasized that it will be business as usual, eagerly anticipating
the completion of a $25 million construction project at Fraser
Downs, and the commencement of similar redevelopment at Sandown
Park. He said that the solid management team in the standardbred
sector was an important part of their decision, and that ownership
by this aggressive visionary company can only mean bigger and better
opportunities for all, including horsemen and fans.
His letter added:
"You should also be
advised of the emotion which underscored these negotiations on our
side of the table. The Orangeville directors, from the Keeling and
Waples families, have been part of this story from Day One 35 years
ago, and they are very proud of what has been achieved. Their
courage, commitment and support during our toughest years should
never be forgotten, but their lives and families are in Ontario. Now
that they have helped put our business back on a solid foundation,
with the long dreamed of redevelopment going forward at both Fraser
and Sandown, the time is right for them to withdraw.
The acquisition of
standardbred operations is a milestone for horse racing in British
Columbia. GCC during 2004 has consolidated ownership of Hastings
Racecourse and its related horse racing assets. Major redevelopment,
including machine gaming, is planned for Hastings Racecourse. Tony
Martin, GCC President & C.O.O. said, "We are so pleased to have
Fraser Downs and Sandown Park join our family. The hard work and
dedication shown by their management and staff were key factors in
our decision making process."'
About this united
ownership, Keeling said: "This is an incredible day for horse racing
in British Columbia. Placing both sectors under common ownership,
which was achieved by the Woodbine Entertainment Group many years
ago in Toronto, has been a vision for B.C. racing, and everything we
have ever done within the industry has advocated solid partnerships
and cooperation."
He added that any
dealings he has ever had with GCC over the years have been first
class in every sense. "It is not hard to see why GCC is one of the
most successful and progressive operators in the gaming industry
anywhere. They have always been honourable with us and helpful as we
have gone through a learning curve within their industry," Keeling
said. "And the most encouraging thing of all is their genuine
interest in horse racing."
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