As racetracks across the province fight to stay in business, the Ontario Government has reached a deal with Woodbine Entertainment group to continue live Horse Racing at both Mohawk and Woodbine racetracks.

A news conference is set this morning to release details of the deal.

The fate of horse racing was thrown into limbo last year after the province announced it was ending its slots for racetrack program

That decision forced the Fort Erie track out of business at the end of last year.

Fort Erie's Live Racing Consortium CEO Jim Thibert says Woodbine is by far the elephant in the room when it comes to racing, so reaching an agreement so quickly is good news for the industry.

He's expecting the attention now to be turned to the balance of the tracks, Fort Erie being one of them.

Niagara Falls MPP Kim Craitor confirming the province's horse industry transition panel will visit racetracks in Ontario, show them the model agreed to at Woodbine and will ask is that a model they can work with to keep their respective tracks open?

But Craitor says Fort Erie may be more complicated because it's only leased by the Live Racing Consortium in the town and  the actual owner has no interest in running a track.

However, Craitor adds he is optimistic the ponies will run again in Fort Erie.