Attractions Hippiques, the private company which runs Quebec's horse-racing tracks, was before Superior Court Tuesday seeking to extend bankruptcy protection as the future of the four Quebec tracks hangs in the balance.
Liberal senator Paul Massicotte, who owns Attractions Hippiques, has said he won't contribute any of his own money to keep the company afloat.
Quebec is proposing to bail out the company to the tune of $28 million dollars a year over 25 years. Part of Quebec's proposal would see Montreal's old Blue Bonnets property near the Decarie expressway be reborn as a casino.
If the deal falls though, it could be the death knell for horse-racing in Quebec, which employs 3,000 people. Justice Chantal Corriveau is expected to rule on the bankruptcy motion in the next few days.
Slump
There are four horse-racing tracks in Quebec -- in Montreal, Alymer, Quebec City and Trois-Rivieres -- but racing has been on hold and breeders are losing money.
They say they haven't been consulted at all during the negotiations and they're worried the industry will soon collapse.
