The Olds Agricultural Society recently discussed big plans for a new project in Alberta, which includes the development of a new racetrack, during a Mountain View County policies and priorities committee meeting last week

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According to an article in the Mountain View Gazette, the Olds Agricultural Society’s plans for Gateway Centre at Highway 2 and 27 include relocating the Olds facility and adding a 100-room hotel, restaurant, convention centre, racetrack and 120-slot casino.

“Our data shows there is not enough hotel space in Olds,” said Reid Lillico, Commonwealth’s chief operating officer, adding that the racetrack and casino “would attract a different type of customer.”

With core financing in place and the sale of 65 acres within Olds, the group is aiming to have a construction timeline complete by June.

“That timeline would run no more than three years and more likely one-and-a-half to two years to complete the process,” said Lillico.

The Ag Society will retain a percentage of the ownership as they form a private-public partnership business model with owners of the commercial facilities.

To read the Mountain View Gazette article in its entirety, click here.

(With files from the Mountain View Gazette)