CANTERBURY PARK HOLDING CORPORATION For Immediate Release:
Wednesday, February 12, 2014
Contact:
Jeff Maday Leonard Fineday
Canterbury Park Leech Lake Band of Ojibwe (952) 496-6408 (218) 335-3678 jmaday@canterburypark.com(218) 766-0393
Leonard.fineday@llojibwe.org
Walker, MN -- Today, the Leech Lake Band of Ojibwe (LLBO) and Canterbury Park Holding Corporation (CPHC) announced they have signed a management agreement that, subject to regulatory approvals, would allow LLBO to offer simulcast wagering on horse races from throughout the world at the Northern Lights Casino Hotel and Events Center in Walker, MN. Northern Lights Casino is part of the Leech Lake Gaming Division, which also owns and operates Palace Casino and White Oak Casino.
The Minnesota Horsemen's Benevolent And Protective Association, the Minnesota Quarter Horse Racing Association and LLBO also signed a purse fund contribution agreement that will use simulcast wagering revenue from Northern Lights to increase live racing purses at Canterbury Park.
"There is significant interest in live horse racing in Northern Minnesota, so we see a great opportunity to meet customer demand and continue to support our mission of community development," explained Leech Lake Band of Ojibwe Chairwoman Carri Jones. "We are thrilled to create these agreements with Canterbury Park and the organizations that represent world-class thoroughbred and quarter horse racing."
These agreements are the first of their kind in Minnesota. Legislation passed in 2012 established the framework that enables LLBO and other sovereign nations currently authorized to conduct gaming under a tribal-state compact to receive telecasts of horse races for simulcast wagering purposes from Canterbury Park and other tracks around the world.
"This agreement will bring the excitement of live horse racing to Northern Minnesota, which has a long history of supporting breeding, farming and other industries that make the Minnesota horse industry thrive," CPHC President Randy Sampson said. "Providing simulcast management services to the Leech Lake Band of Ojibwe will increase exposure to racing and increase Minnesota's live racing purses."
Under the five-year agreement, the maximum length allowed by the 2012 legislation, LLBO will be solely responsible for simulcast operations within their casino. Canterbury will provide management and consulting services to LLBO that are necessary for simulcast wagering on thoroughbred and quarter horse races, including obtaining telecasts, wagering equipment, marketing and accounting.
This agreement between LLBO and CPHC is only the first step required for simulcast wagering to be offered at Northern Lights Casino. The management agreement requires the approval of the National Indian Gaming Commission and the Minnesota Racing Commission, with regulatory discussions expected to begin soon.
About Leech Lake Band of Ojibwe
Located in North-Central Minnesota, the Leech Lake Band of Ojibwe is a federally recognized tribe with over 9,000 Tribal members. The Leech Lake Band has conducted gaming operations authorized by IGRA and Minnesota state compact through its three casinos which Include Northern Lights Casino Hotel and Event Center, Palace Casino Hotel, and White Oak Casino since 1990. Leech Lake Gaming employs approximately 1,000 area residents.
About Canterbury Park
Canterbury Park Holding Corporation owns and operates Canterbury Park Racetrack, Minnesota's only thoroughbred and quarter horse racing facility. CPHC conducts pari-mutuel wagering operations and hosts card games at its facility in Shakopee, Minnesota. The Company's pari-mutuel wagering operations include both wagering on thoroughbred and quarter horse races during live meets at the Racetrack and year-round wagering on races held at out-of-state racetracks that are televised simultaneously at the Racetrack.
CPHC was incorporated under the laws of Minnesota on March 24, 1994, acquired the Racetrack on March 29, 1994, commenced seven-day-a-week simulcast operations on May 6, 1994, and, beginning in May 1995, launched live horse racing and related pari- mutuel wagering on a seasonal basis, generally from early May to early September.
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Northern Lights Casino and Canterbury
Park Simulcasting Agreement
Frequently Asked Questions - February 2014 WHAT IS SIMULCASTING?Simulcast horse racing allows patrons to watch and wager on live broadcasts of horse races taking place across the
country. Simulcasting is already offered year-round at both
Canterbury Park and Running Aces Casino.
HOW WILL SIMULCASTING WORK AT NORTHERN LIGHTS CASINO?The Leech Lake Band of Ojibwe will establish a location within the casino and operate a simulcast racing facility. They will have sole proprietary ownership of the onsite operation.
Canterbury Park will provide management
services including technical assistance and maintenance for wagering operations, marketing
assistance and accounting services. Canterbury Park will also provide the signal for all races that are run at Canterbury Park or simulcast from other racetracks.
WHAT ARE THE PARTIES GETTING OUT OF THIS DEAL?
Leech Lake Band of Ojibwe:A new entertainment option and revenue source.
Minnesota's Horse Owners and Breeders:Higher purses and higher visibility in Northern Minnesota and adjacent
markets.
Canterbury Park:Revenue from the management agreement and increased purses for live
racing.
All Parties:Increased exposure for horse racing in Minnesota and continuing a cooperative
relationship with Minnesota's Tribal Gaming and Horse Racing Industries.
HOW WILL THE NET REVENUES BE USED?Canterbury Park will be paid a fee, based on net revenues, in exchange for management services. A separate agreement with the Minnesota Horsemen's Benevolent and Protective
Association and the Minnesota Quarter Horse Racing Association will dedicate a portion of net revenues to purse enhancements for live racing . The remaining net revenues will be retained by the Leech Lake Band of Ojibwe for Community Development.
WHEN WAS THIS AUTHORIZED?Legislation passed in 2012 allows Canterbury Park to transmit telecasts of races conducted at Canterbury Park and simulcasts of races on which Canterbury Park accepts wagers. The legislation is limited to tribal sovereign nations who are conducting gaming authorized by a tribal-state compact based on the Indian Gaming Regulatory Act.
Canterbury Park invited potential tribal gaming operations to consider working on a simulcasting agreement, and the Leech Lake Band of Ojibwe expressed interest.
WILL SIMULCASTING DIRECTLY HELP THE LEECH LAKE COMMUNITY?Horse racing will provide an additional opportunity to showcase the Leech Lake Reservation to visitors. It will also provide new revenue for economic development for the community through increased jobs and much needed revenue for community development.
WHEN WILL NORTHERN LIGHTS OFFER SIMULCAST HORSERACING?The next step is seeking approval from the National Indian Gaming Commission and the Minnesota Racing Commission. There is no timetable for the next steps; however, all parties are optimistic that this can become a reality in the coming months.
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