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Fort Erie Race Track plans revealed7 June 2007
FORT ERIE, Ontario -- As reported by the Buffalo News: "Three months after hanging a "for sale" sign on Fort Erie Race Track, the owner has unveiled plans for a $282 million (U.S.) hotel, entertainment and housing complex on land next to the thoroughbred track and slot casino.
"Among the proposed features: a 2,500-unit time share and condominium development, 350-room hotel, water park, restaurants, theaters and discotheque. The racing and slot machine operations would be refurbished.
"...The racetrack's prospects have been clouded by financial losses, and slot machine profits have been affected by casinos in Niagara Falls, Ont., and Niagara Falls, N.Y., as well as the weak U.S. dollar.
"But El-Ad believes the added attractions would generate enough new customers to keep the racing and clubhouse slot machine operations going, Ayers said.
"...Although Fort Erie's racing season was trimmed from 104 to 84 days this year, the track near the Queen Elizabeth Way, a mile west of the Peace Bridge, remains one of the town's largest employers, with more than 1,100 people working on site during the summer..."