Canterbury Park Comments on Minnesota Legislature's Budget Agreement.SHAKOPEE, Minn. -- Governor Tim Pawlenty Timothy James (Tim) Pawlenty (born November 27, 1960) is an American politician from the Republican Party. He is the 39th and current Governor of Minnesota, and started his term on January 6, 2003. and legislative leaders announced early Saturday morning they reached a two-year budget agreement that did not include the proposed Racino at Canterbury Park Canterbury Park is a horse racing track located in Shakopee, Minnesota, USA. It runs a meet that consists of 69 racing days from early May to Labor Day, generally holding scheduled races Thursday through Sunday, with racing added on several holidays throughout the meet. . The handshake deal still needs to be approved by the full legislature. "We are clearly disappointed with the inaction in·ac·tion n. Lack or absence of action. inaction Noun lack of action; inertia Noun 1. of the Legislature on the Racino," commented Canterbury Park President Randy Sampson. "The Racino proposal continues to have the support of the vast majority of Minnesotans, and could have provided an additional $200 this biennium bi·en·ni·um n. pl. bi·en·ni·ums or bi·en·ni·a A two-year period. [Latin : bi-, two; see bi-1 + annus, year; see at- to support education and health care." "Now that the legislature has finally reached a budget deal, we can focus all our attention on having another great live racing meet," added Sampson. "However, we certainly have not given up on the Racino proposal. Minnesotans have spoken loud and clear that they support reforming Minnesota's current gaming system by passing the Racino at Canterbury Park. We will be back next year to continue to educate legislators on the benefits a Racino at Canterbury Park would bring to this state" In addition, legislators withdrew an earlier proposal to add a 15 percent tax on Canterbury Card Club gross revenues and authorize 50 additional tables for the poker room. ABOUT CANTERBURY PARK: Canterbury Park Holding Corporation owns and operates Canterbury Park Racetrack, Minnesota's only pari-mutuel horse racing horse racing, trials of speed involving two or more horses. It includes races among harnessed horses with one of two particular gaits, among saddled Thoroughbreds (or, less frequently, quarterhorses) on a flat track, or among saddled horses over a turf course with facility. The Company's 69-day 2005 live race meet began on May 7 and will run through September 5, 2005. In addition, the Company is authorized under Minnesota law to host "unbanked" card games. Canterbury Park's Card Club operates 24 hours a day, seven days a week, and receives collection revenue from 31 poker tables A poker table is a table specifically designed for playing card games, usually poker. It is often covered with baize which is a type of felt, or speed cloth, a teflon-coated fabric that helps the cards slide easily across the surface. and 19 tables offering a variety of unbanked card games. The Company also conducts year-round wagering wa·ger n. 1. a. An agreement under which each bettor pledges a certain amount to the other depending on the outcome of an unsettled matter. b. A matter bet on; a gamble. 2. of simulcast horse racing and hosts a variety of other entertainment and special events at its facility in Shakopee, Minnesota Shakopee is a city in Scott County, Minnesota, United States. The population was 20,568 in the 2000 census, with an estimated 2004 population of just short of 30,000, representing a growth of around 43 percent. It is the county seat of Scott County6. . For more information about the Company please visit us at www.canterburypark.com. Cautionary Statement: From time to time, in reports filed with the Securities and Exchange Commission, in press releases, and in other communications to shareholders or the investing public, the Company may make forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. concerning possible or anticipated future financial performance, business activities or plans which are typically preceded by the words "believes," "expects," "anticipates," "intends" or similar expressions. For such forward-looking statements, the Company claims the protection of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for forward-looking statements contained in federal securities laws. Shareholders and the investing public should understand that such forward-looking statements are subject to risks and uncertainties which could cause actual performance, activities or plans to differ significantly from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to: material fluctuations in attendance at the Racetrack, material changes in the level of wagering by patrons, decline in interest in the unbanked card games offered at the Card Club, competition from other venues offering unbanked card games, legislative and regulatory changes, the impact of wagering products and technologies introduced by competitors; increases in the percentage of revenues allocated for purse fund payments; increases in compensation and employee benefit costs; a decline in the general level of interest in gaming products as a form of entertainment; higher than expected expense related to new marketing initiatives; and other factors discussed from time to time in the Company's filings with the Securities and Exchange Commission. |
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