Canterbury Park Comments on the Minnesota Senate Committee Vote.SHAKOPEE, Minn. -- 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. Holding Corporation (AMEX AMEX See: American Stock Exchange :ECP (Enhanced Capabilities Port) See IEEE 1284. 1. ECP - Engineering Change Proposal. 2. ECP - Enhanced Capabilities Port. 3. ECP - Extended Capabilities Port. 4. ECP - Extended Concurrent Prolog. ) announced today that its proposal to develop a "Racino" by adding new casino gaming options to its existing Racetrack and Card Club in Shakopee failed to pass the Minnesota Senate The Minnesota Senate is the upper house in the Minnesota Legislature. There are 67 members, half as many as are in the Minnesota House of Representatives. Each Senate district in the state includes an A and B House district (e.g. Committee on Agriculture, Gaming and Veterans Affairs Veterans Affairs is a term of the business that deals with the relation between a government and its veteran communities, usually administered by the designated government agency. on a 10 - 4 vote Monday evening. This committee was the first stop for Senate File 1609, which is authored by Senate Minority Leader Dick Day (R-Owatonna). "We are not surprised by the actions of the Senate committee, and fully expect the gaming debate to continue in the both the Minnesota Senate and House this year," commented Canterbury Park's President, Randy Sampson. "Canterbury Park and our supporters will continue to work with legislators to make our case for how the Racino can create jobs, grow Minnesota's horse industry and generate new tax revenues for the state." The Racino legislation is still moving forward in the Minnesota House. The House companion file, HF 1664, met the first committee deadline when it passed through the House Regulated Industries Committee on March 29th. The bill will be heard next by the House Committee on Taxes. The Racino legislation authorizes the Minnesota Lottery to operate slot machines at the Shakopee location owned by Canterbury Park. The Racino at Canterbury Park proposal would add several new forms of entertainment at this site, including 3,000 slot machines, 40 Blackjack blackjack, one of the world's most widely played gambling card games; also known as twenty-one or vingt-et-un. Despite contesting claims between the French and Italians, its origins are unknown. tables, an Olympic-scale equestrian center, and a major hotel and conference center. ABOUT CANTERBURY PARK: Named to Fortune Small Business' July 2004, 100 fastest growing companies list (#52), 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 is expected to begin on May 7 and ended 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 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, 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; the general health of the gaming sector; 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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