Gaming News

Canterbury Park Racino Clears Hurdle

SHAKOPEE, Minnesota -- (PRESS RELEASE) -- Canterbury Park Holding Corporation (AMEX:ECP) announced today that it's proposal to develop a "Racino" by adding new casino gaming options to its existing Racetrack and Card Club in Shakopee cleared its first hurdle late Friday in the Minnesota Legislature. The House Gaming Division approved the "Racino" bill on a voice vote, and sent it to the House Committee on Regulated Industries for further consideration.

Canterbury Park's Racino proposal is contained in House File 1664, authored by Rep. Mark Buesgens (R-Jordan). This bill authorizes the Minnesota Lottery to operate slot machines at the Shakopee location owned by Canterbury Park. The Racino at Canterbury Park proposal would add several new forms of entertainment at this site, including 3,000 slot machines, 40 Blackjack tables, an Olympic-scale equestrian center, and a major hotel and conference center.

Proposals to add slot and video gaming to Canterbury Park have been considered by the Minnesota Legislature several times since 1997, but Friday's vote represents the first test for this bill during the current legislative session. However, the bill still requires a number of additional legislative approvals. The Racino legislation is likely to be reviewed by other House committees before being presented to the full House, and no committee in the Senate has yet scheduled the Racino bill for a hearing.

"We have taken the first step towards legislative approval of the Racino, but there is no assurance that this bill or any gaming bill will be enacted into law this year," cautioned Canterbury Park's President, Randy Sampson. "Canterbury Park and our supporters will continue to work with legislators to make our case for how the Racino can create jobs and generate new tax revenues for Minnesota."

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