The Minnesota Racing Commission, which regulates horse racing and card clubs at race tracks in the state, approved the Cooperative Marketing Agreement between Canterbury Park and Shakopee Mdewakanton Sioux Community on Wednesday, June 13.
The agreement launches a 10-year cooperative marketing program to substantially increase purses and pursue joint marketing programs.
“This agreement will turn-the-tide for thoroughbred and quarter horse racing in Minnesota,” stated Jesse Overton, chair of the Minnesota Racing Commission. “The Minnesota horse racing industry was near financial collapse but will now become a premium horse racing venue that will significantly stimulate state horse racing businesses. We encourage innovative thinking such as this and hope that this is the beginning for many more innovations in the thoroughbred, quarter
horse and standard bred horse industries.”
A key indicator for the health of the horse racing industry is the breeding trends. The number of Minnesota foals has dropped from a high of 777 state thoroughbred and quarter horse foals born in 1990 to 153 foals in 2011.
“The Minnesota Racing Commission has recognized and communicated our concerns about the precarious position of the state horse racing industry,” continued Overton. “Thankfully the industry put aside old thinking and pursued a new way to
survive and thrive in the coming years.”
This is a cooperative agreement that breaks new ground with a major state Indian Tribe partnering with another entertainment business, Canterbury Park. The ten-year agreement includes:
• $75 million for purses over the ten year period;
• $8.5 million for marketing during that period.;
• Joint marketing programs between Canterbury and Mystic Lake Casino;
• Possible simulcasting at Mystic Lake.
(MRC)