Copeland Ready to Lead Woodbine Into the Future

Woodbine Entertainment recently announced Michael Copeland, its chief commercial officer, would take over the role of CEO effective Oct. 1. He joined Woodbine two years ago and has a deep love and appreciation for the sport of Thoroughbred horse racing.

As he prepares to lead Woodbine into the future, Copeland shared his thoughts with BloodHorse MarketWatch on working alongside current CEO Jim Lawson, the similarities between horse racing and mainstream sports, and what's in store for the track in the near future.

MarketWatch: It's been a couple of weeks since the announcement. Has it sunk in yet?

Michael Copeland: It's been a bit of an evolution. I was hopeful that things would move in this direction, but certainly, when it happened, (I was) excited and very privileged to have the opportunity. I don't step into the role officially until Oct. 1, so there's still time to absorb what this means and what all the mandate will have. But certainly, it's exciting. There is so much to look forward to; it's nice to be part of it going forward.

MW: Even though it's only been almost two weeks, what has the process been like in trying to get the ball rolling for that smooth transition in October?

MC:  It really hasn't involved that much yet. Current CEO Jim Lawson, who has such a wealth of experience, knowledge, and history, will be staying on as the chair of the board, and the executive chair, and he will remain involved in some of the key issues that we have with his position on the board. I've worked very closely with Jim over the last couple of years and in previous organizations as well, so I think it's going to be quite seamless that way. I think the goals that Jim has developed, which I have augmented and helped develop over my last two years here, will continue, so it's going to be a continuation. I'll take those in my own direction as things go forward. But right now, there are no major pivots. I think we're on a really good path in terms of several of our strategic priorities, continuing to lean into those and to react and respond to new opportunities and new variables that present themselves and making sure that we continue to chart the right course for the organization going forward.

MW: What has it been like working with Jim Lawson for these past couple of years?

MC: It's great. Jim is a passionate supporter of racing. He's an incredibly experienced, smart guy. To have the opportunity to see how he operates and how he approaches issues—there's nobody better at managing stakeholders in the industry. He's respectful, he's thoughtful, and I think it's been great to learn the business from him. I think that's been first and foremost. The biggest impact is having the opportunity to come in and learn the fine details. Having somebody with encyclopedic knowledge and first-hand knowledge of some of the most important things that Woodbine has experienced and contributed to its growth. You can't put a value on that. I think it puts me in really good shape to continue that forward and to put my own stamp on things in the years that come forward,

MW: Where did your interest in horse racing come from?

MC: My wife grew up on a horse farm in King City (Ontario) and her father, Nick DeToro, who passed away about six years ago, was an owner and trainer of Thoroughbreds at Woodbine. When we first were together, we spent a lot of time on the track, and over the years, I got to know Nick quite well and learned a lot about his approach to the business. It's a difficult game for an owner, especially one of the smaller owners and trainers, to understand the reality of what it means to be involved at that level. We also love to come to the track; the races are pretty, pretty special to us. The atmosphere and environment, the people, and my kids grew up around the track. It has developed into a big part of our family and I didn't anticipate it at the time while working at Woodbine. But when the opportunity came up with Jim, a couple of years ago, I jumped at it, and it's been fantastic.

MW: You've been involved with other sports through Maple Leaf Sports and Entertainment and the Canadian Football League. From a business perspective, what are the similarities and dissimilarities between horse racing and sports that are a little bit more mainstream?

MC: I think the similarities are you have a sport or a product that means a lot to the customer. So there's sort of an emotional connection to the sport and it elicits an emotional reaction and energy, unlike almost any other sort of product that you can provide. It's special in that way. I think that is what attracts me to it. There's so much more than just what happens on the field or on the ice, or on the track. There's a connection to it, understanding that and nurturing that is at its core.

From the sports that I've been involved in, namely the CFL and the Toronto Argonauts, they're traditional organizations that have a rich, rich history and have meant a lot to generations of Canadians. There's a real challenge as you come forward into the current times to say, 'Is it still relevant? Has it evolved to mean something as much today as it did in decades past?' And I think racing has that same challenge. Our core fans are incredibly engaged and incredibly committed, but they're older. What racing meant to them is different today.

We have to anticipate that it could be different for a new generation. But I think if you respect the past and make sure you provide all of the things that the core fans love but are also creative and willing to try new things, and move in new directions, you can really evolve. That is what we're really focused on doing. We've got a fantastic opportunity with single-event sports wagering now in Ontario to have racing integrated with the online sportsbooks, which is going to be a perfect opportunity for us to get right into the hearts and minds of a younger generation of customers and that's going to give us an opportunity to speak to them about racing in new ways, to present it in new ways.

Maintaining the tradition but being flexible and creative to move into the future. That's the commonality between traditional major sports and racing, and I think we've got a fantastic opportunity to be really, really successful as we embark on that path.

MW: Is that the most important challenge that you're going to face in terms of positioning Woodbine for the future?

MC: Certainly, I think for any business, it's always remaining relevant and current, but I think it's pronounced with businesses that are steeped in tradition. It's a huge challenge, but I think it's also an incredible opportunity and one that I'm confident we are going to be successful in. Racing has all of the elements that are going to fit in so well with the way media and sports are consumed. It's fast. They're in short increments. It's exciting. It has social elements, and you see sports these days where there's a huge social component; stadiums building in social areas into fan seating areas.

We've done that for decades, and there's no better social experience than being at a racetrack. We are well suited to take advantage of the way things are developing. I think other challenges are to make sure the racing industry and people involved in it are strong and sustainable and doing well because without the stakeholders, without the owners and the trainers and the breeders and the farmers and everybody that works with the horses, we don't have a product so we have to make sure that we always lean back in to support the people that actually make all of this happen. And Woodbine being a not-for-profit, all of our profits go back to the industry. It's a balance for us to take care of the people today but also invest for tomorrow so that we can get even stronger.

Our focus and our strategy are to make this an even more strong and powerful industry. And for the people in it to be extremely successful. It's just continuing to define those opportunities to be confident and ambitious. To make sure that everybody is succeeding as we move forward.

MW: What inspires you?

MC: Ultimately, what inspires me is potential. That can be for an organization. It can be for an individual. It can be for a group. I think that anybody or anything that can really be ambitious and energetic about understanding what their potential is, about trusting that it's probably more than they originally thought, and really striving with confidence to reach that potential inspires me. I think people can do great things. And organizations, too, can do great things when they believe in themselves and they challenge themselves.

You do that with integrity and you do it the right way, it leads to some spectacular things, and it only builds when people see success and what they're capable of, and organizations see what they're capable of. You really can do some fantastic things that inspires me. In terms of the industry, it inspires me when you see people reacting to a horse race. It's the energy and the passion and the excitement; it's raw emotion, and you see it every race from people really getting engaged into what's happening on the turf, dirt, or Polytrack. It's a special thing to see. Creating more of those moments for more people and creating a lasting connection to racing and something that is an important part of people's lives, is a pretty special opportunity and pretty inspirational to me.

MW: Is there a moment for you that stands out in your mind?

MC: There's one race in particular that stands out to me. I actually met my late father-in-law at the track in the paddock at Woodbine. My wife thought it was a good idea to meet him on his own turf, so to speak. She brought me down to the track and we met him in the paddock as he was saddling his horse. I think it was a special memory for me because the horse won the race. Just 15 minutes after I met him, I was in the winner's circle with my future in-laws, who I just met. We've got a great picture of that moment. That one will always stand out above the others.

MW: What haven't we discussed that you think readers should know about what you and Woodbine are doing?

MC: Anyone that's not familiar with racing at Woodbine should understand the breadth of the operations here. We've got not only our two tracks but at our main track; we are doing a lot of progressive things. We have almost 700 acres of land that the track sits on, and we're planning to develop that land for mixed uses—residential, commercial, mass transit into Toronto, and into the airport. There's a billion-dollar casino adjacent to our track that is opening (June 20). That is going to be a Vegas-style casino with a 5,000-seat music venue, a hotel that's independently owned, and it's on land that they lease from Woodbine, so we participate in their success. There's so much activity that's happening. 

Our entry into single-event sports wagering is currently in the process of working with the provincial government here to have horse racing become part of the online sportsbooks. For some regulatory reasons, racing was exempt from being included in the initial launch of the sportsbooks, but we're working to do that so that Woodbine can benefit from its presence. We're moving in a whole bunch of different directions, and all of them are transformational.

Things are strong now, and I think it's only going to increase in likely an exponential way going forward. There's a lot going on here, and I encourage anyone to come up and take a look when they get the chance.