Canterbury Park Announces Development

(Edited news release)

Canterbury Park Holding Corp. has announced a partnership to develop a retail and entertainment venue on its property in Shakopee, Minn.

The company, which operates the Canterbury Park Racetrack & Card Club, is partnering with Kansas-based RED Development on the project, which is described as a master-planned retail, entertainment and mixed-use development.

The proposed development will be integrated into the existing racetrack and card club property to expand dining, shopping and retail opportunities to visitors of the park, as well as provide entertainment options to visitors of the new destination development, according to the company. It is expected that the proposed development will be conducted in phases and will be located on land that is currently unused or underutilized.

Before construction of the project can begin, a number of conditions must be satisfied, including development of a mutually agreeable master plan, signing of definitive agreements between Canterbury Park and RED related to the proposed development, input from and approval by the city of Shakopee and Scott County, approval by the Minnesota Racing Commission, and arranging financing for the project