Ontario Racing is pleased to announce John Hayes will return as the organization's Independent Chair beginning on Nov. 2.
He previously served as Ontario Racing's Independent Chair from 2018 through 2022. The Sharon, ON resident was then succeeded by Andrew Gaughan, who announced in August that he would not seek a new term after his current extension expires at the end of October.
Hayes, a Standardbred horse owner and former executive at General Electric, Black & Decker and Home Depot, is also a former Gaming Director with Ontario Lottery and Gaming, who had operational responsibilities at Ajax Downs, Georgian Downs, Grand River Raceway, Woodbine Racetrack and other tracks across the province.
He said he is returning to Ontario Racing for one key reason: "I love horse racing and I want to do everything I can to make it prosper, and it's going to be a tough fight... We have to get all three breeds growing."
During his first term, he helped lead the province's horse racing industry to a critical 19-year Long-Term Funding Agreement with the province that was signed in 2019. Hayes also helped the industry navigate through the COVID-19 pandemic that, initially, closed racetracks.
Hayes said one of his top priorities will be expanding the wagering offerings to help horse racing appeal to younger customers and drive the very handle that funds most of horse racing's operations.
"[New bets are] what new potential customers would look at, rather than win, place and show and exotics," Hayes said.
Hayes said he also will be focused on having Section 31 of the Income Tax Act repealed. Section 31 states that anyone involved in agriculture -- which includes horse ownership -- as a hobby business may only write off a maximum of $17,500 of losses annually against their main business. No other Canadian economic sector has such tax limitations. The issue has been made more acute by the fact that in the United States a person can write off 100 per cent of bonus appreciation for horse losses.
"If you're trying to pitch investing in the racing business [in Canada] to new individuals, once they understand the way the taxes work, they don't want to invest," Hayes said. "They've got better places for their money."
Hayes, who is known for his calm, collaborative demeanor, said he is also prioritizing the viability plan Ontario Racing is currently crafting.
"I have a copy of what Ontario Racing has put together, so far, for a viability plan, and I think it's pretty good," Hayes said. "I would say number one, we really have to understand the demographics of our potential customer base and how those demographics are shifting.
"Also, execution of this viability plan is absolutely key. Ontario Racing has got to pitch that to its board, get the board on the plane, and then execute. We need to identify four or five key execution points and the timing of those points."
Through it all, Hayes said a part of him still remains the child that grew up in the shadows of old Morrow Park in Peterborough. He has been going to the races since he was seven or eight.
"I really love racing, and for every job I've had, and all the traveling I've done in my life working, I always found time to go to a racetrack, whether it was Arlington in Chicago or Santa Anita if I was on the West Coast, Hastings if it was in Vancouver," Hayes said. "As a fan, I love horse racing."
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