There may not be imminent decisions in the ongoing debate over high-volume betting shops and computer-assisted wagering. The industry remains split on mechanisms that have increased or shifted pari-mutuel handle, depending on the point of view.
Plans for a racino at Canterbury Park continued to progress through the Minnesota legislature when the House Committee on Regulated Industries approved a bill March 29 and sent it to the House Committee on Taxes.
As organizers of the Claiming Crown gear up for the sixth edition of the event in 2004, the focus will be on obtaining sponsorships and getting the races into more wagering outlets around the country. Meanwhile, the National Thoroughbred Racing Association has signed on as a sponsor of the event.
Canterbury Park, which operates a successful card club in its clubhouse, and the Minnesota Horsemen's Benevolent and Protective Association have raised overnight purses by 5%. The increase is the fourth in three years.
Canterbury Park announced record revenue and net income for 2001. A full year of revenue from its Card Club allowed the Minnesota racetrack to increase revenue by nearly 22% and raise net income by 116.5%.
Canterbury Park reported increased revenue and decreased net income for the third quarter ending Sept. 20. Revenue for the Minnesota racetrack was up 4.3% to $12.1 million, but net income for the third quarter fell 21% to $378,103, or 10 cents per share.
A card club that produced revenue of $11.3 million helped Canterbury Park Holding Corp. post record operating results for 2000. The company owns Canterbury Park, the Thoroughbred track located in Shakopee, Minn.
For the fourth consecutive year, Canterbury Park in Shakopee, Minnesota posted significant increases in on-track attendance and handle for 60-day meet. Card Club revenues contributed to two purse increases of 10 percent each, with total purses of approximately $6.4 million for the meet representing an increase of 26.6% over 1999. Average daily purse distribution was $106,000, compared to $90,000 in 1999, an increase of 17.7%.