Yes.
Today, the parimutuel model wagers about $1.2 billion that is legal and goes through the CPMA. We're aware that there is a significant grey market area offshore where wagers go.
We would be very concerned if Bill C-218 came in unamended and fixed-odds wagering on horse racing were allowed. We could see that $1.2 billion totally undermined and easily cut in half. Those people who have received the licences from the various provinces would be under no obligation to pay into the system. The whole entire system could therefore collapse upon itself.
We absolutely need these protections that were in the government bill, BillC-13. With that, I think we can maintain the parimutuel system going forward.
That said, one of the things that we are telling all of our members is that you must work with your local provincial regulator. You must understand how it is going to roll out in your province and ensure that horse racing and tracks can play a meaningful role.