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Woodbine restructures operating model

The Woodbine Entertainment Group has announced a significant restructuring of its operating model in order to reduce costs and improve efficiency.

While WEG recently announced new transitional agreements with the Ontario government and the Ontario Lottery and Gaming Corporation, the revenue from those agreements will be significantly less than WEG earned through the slots-at-racetracks partnership which will expire March 31.

WEG's operating model, both on-track and off-track, will be realigned to better reflect the new agreements with government and the OLG and its recently announced reduced race schedules of 133 days (down from 156 last year) for the Thoroughred meeting and 183 days for Standardbreds (down from 211).

Internal operations are being downsized or amalgamated to align with these new financial realities.

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