In accordance with Section 24 (a) of the Racing Commission Act, 2000, the Director of the Ontario Racing Commission (ORC) has further continued Nordic Gaming Corporation’s licence to operate Fort Erie Racetrack until March 30, 2009. The Director has taken this action in order to ensure uninterrupted customer service, to work towards providing continued opportunity for live racing, and to allow Nordic Gaming Corporation a further time period to resolve outstanding financial issues.
Among the terms of the continuation, the Director has ordered that:
• The terms and conditions associated with the existing 2008 race track operator’s licence issued to Nordic Gaming Corporation shall continue to apply;
• All simulcasting shall be continued until March 30, 2009, unless otherwise ordered by the Director;
• Periodic written updates shall be provided to the Director which will include information regarding ongoing discussions with stakeholders, potential investors, regulators/governments;
• In addition, in the event that the outstanding financial issues are not resolved by March 16, 2009, Nordic Gaming Corporation shall, in writing, withdraw its application for 2009 race dates to be effective on March 30, 2009.
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