Canterbury Park Statement Concerning the Potential for Legalization of Sports Betting in Minnesota
SHAKOPEE, Minn., May 16, 2018 /PRNewswire/ — On May 14, 2018, the United States Supreme Court issued a decision in Murphy v. National Collegiate Athletic Association, ruling that The Professional and Amateur Sports Protection Act violated the United States Constitution. This Murphy decision allows state legislatures across the country to determine whether to legalize sports betting.
Canterbury Park Holding Corporation (“Canterbury Park”) owns and operates Canterbury Park Racetrack, Minnesota’s only thoroughbred and quarter horse racing facility. In addition, Canterbury Park’s Card Club hosts card games 24 hours a day, seven days a week, offering both poker and table games. The Company also conducts year-round wagering on simulcast horse racing and hosts a variety of other entertainment and special events at its facility in Shakopee, Minnesota.
As Canterbury Park has previously reported, on June 15, 2012, Canterbury Park entered into a ten-year Cooperative Marketing Agreement (“CMA”) with the Shakopee Mdewakanton Sioux Community (“SMSC”). The CMA enhances the purses for daily racing at Canterbury Park and supports cooperative marketing programs for the two organizations, benefiting the stability and quality of live horse racing.
In response to the Supreme Court decision, Canterbury Park Holding Corporation Chief Executive Officer Randy Sampson, stated: “Resources provided by the CMA have improved Minnesota’s horse racing industry and tourism in the RiverSouth region. As part of the agreement, Canterbury Park has obligations to our CMA partners related to proposals to expand gambling in Minnesota. Canterbury Park will review any 2019 legislation related to sports wagering to determine the potential impact on Minnesota’s horse racing industry and will work with our CMA partners to determine appropriate responses.”
About Canterbury Park:
Canterbury Park Holding Corporation (the Company) owns and operates Canterbury Park Racetrack and Card Club, Minnesota’s only thoroughbred and quarter horse racing facility. The Company’s 70-day 2018 live race began on May 4 and ends September 15. In addition, Canterbury Park’s Card Club hosts “unbanked” card games 24 hours a day, seven days a week, offering both poker and table games. The Company also conducts year-round wagering on simulcast horse racing and hosts a variety of other entertainment and special events at its facility in Shakopee, Minnesota. For more information about the Company, please visit us at www.canterburypark.com.
From time to time, in press releases and in other communications to shareholders or the investing public, Canterbury Park Holding Corporation may make forward-looking statements concerning possible or anticipated future financial performance, business activities or plans based on management’s beliefs and assumptions. These forward looking statements are typically preceded by the words such as “believes,” “expects,” “anticipates,” “intends” or similar expressions. Shareholders and the investing public should understand that these forward-looking statements are subject to risks and uncertainties, including those disclosed in our periodic filings with the Securities and Exchange Commission, which could cause actual performance, activities, future dividends or plans after the date the statements are made to differ significantly from those indicated in the forward-looking statements when made.
SOURCE Canterbury Park Holding Corporation