Quebec won't bet on future of horse racing

The finish line may be in sight for Quebec's four troubled hippodrome racetracks.

The Quebec government announced Friday that it is pulling its support from a plan to restructure Attractions Hippiques, the private company that sought bankruptcy protection last year.

The government was a major partner in the proposed restructuring plan.

Finance Minister Monique Jrme-Forget said the government decided to pull out after associations representing horse breeders and owners rejected the plan put forward by the bankruptcy trustee.

She said the Quebec public is losing interest in horse racing, and so, too, is the government.

"Obviously, you cannot keep putting moneydown in that sector year after year after year. We are in the business of providing health care, education androads. Frankly, it is not our business to support any kind of entertaining sector," said Jrme-Forget.

In addition to pulling its support for the restructuring plan, the minister said Loto-Qubec will take back more than 200 video lottery terminals if the racetracks close.

Aid package in works

Attractions Hippiques is several million dollars in the debt.

Last year, the company was placed under bankruptcy protection and it closed theBlue Bonnets Raceway in Montreal. Its other three hippodromes in Gatineau, Trois-Rivires and Quebec City remained open.

The company's owner, Canadian Senator Paul Massicotte, has blamed the situation on lower-than-expected revenues from Loto-Qubec gaming rooms inside the racetracks.

The company is currently before the Quebec Superior Court asking to extend itsbankruptcy protection. A decision is expected on March 9.

The horse racing industry in Quebec employs about 3,000 people.

Jrme-Forget said the government will not leave employees and horse breeders hanging if the company is unable to reach a solution to keep the race tracks open.

She said the government is working on an aid package in the event one is needed.