Minnesota officials said advance deposit wagering legislation passed recently by lawmakers will provide an estimated $1.5 million in revenue that will be re-directed to horse racing and breeding in the state.
Canterbury Park Holding Corp., despite temporary shutdown of operations last summer at Canterbury Park, reported positive financial figures for 2011 and the fourth quarter of last year.
The Minnesota Senate State Government Committee March 19 voted 8-5 against a measure that would have authorized casino-style gambling, including slot machines, at Canterbury Park and Running Aces Harness Park.
Despite taking a financial hit because of a state-imposed shutdown during its live race meet this summer, Canterbury Park will stay the course with its regular schedule in 2012.
Democratic Gov. Mark Dayton and Republican leaders in the Minnesota legislature are working toward a budget deal, but until it's finalized a government shutdown will continue and two racetracks will remain closed.
A budget impasse in Minnesota could force Canterbury Park to suspend operations July 1 should there be a government shutdown, track officials said.
Though legislation to authorize electronic gaming continues to stall in Minnesota, Canterbury Park officials remain optimistic in the wake of a fairly stable second-quarter earnings report.
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.
Canterbury Park has unveiled a legislative proposal to support a $120-million racino development at its 380-acre site in Shakopee, Minn.
Canterbury Park Holding Co. reported a decrease in net income for the first three months of 2003 compared with the same period in 2002, but an increase in revenue for the three-month period.
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