Woodbine Entertainment Group Implements Restructuring

[Southieboy]

TORONTO, February 13, 2013 - Woodbine Entertainment Group (WEG) today announced a significant restructuring of its operating model. While the company recently announced new transitional agreements with the Ontario government and the Ontario Lottery and Gaming Corporation (OLG), the revenue from those agreements will be significantly less than WEG earned through the Slots-at-Racetracks partnership. As a result, WEG has had to take steps to reduce costs and achieve efficiencies through the implementation of a new operating model.

Including changes implemented in late 2012, WEG's total workforce will be reduced by 109 salaried positions and a significant number of hourly positions. In addition, a number of jobs will be converted to seasonal and the amount of hourly work available will be reduced.

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