This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Canterbury Park To Resume All Operations Thursday

Canterbury Park (NASDAQ: CPHC) announced today it will resume Card Casino, simulcast and live racing operations on Thursday, July 21 after a 20 day suspension of its operations due to a budget impasse that triggered a shutdown of state government beginning July 1. The budget stalemate ended this morning when budget legislation was passed by the Minnesota legislature and was signed into law by the Governor.

With the budget in place, employees of the Minnesota Racing Commission (the “MRC”), the state body that oversees the Company’s gaming operations, will return to work tomorrow. As a result, the Commission has authorized Canterbury to re-open the Card Casino at 10:00 a.m. Thursday and to resume simulcast racing operations at 11:00 a.m., and live racing at 7:00 p.m.

“We are relieved that this shutdown has come to an end. It has caused undue hardship for far too many,” Canterbury President Randy Sampson said. “Suspending Canterbury’s operations was extremely painful to the 1,000 employees of Canterbury Park who were laid off without pay, to those employed on our backside and to thousands otherwise involved in Minnesota's horse industry. Since the shutdown occurred during the heart of racing season, we estimate that Canterbury Park lost as much as $1 million in revenue each week, but we won't know the final impact until the racing season is over. I look forward to welcoming back our loyal employees and customers and to allowing the horsemen to again compete for purses.”

The special session adjourned without action on the Company’s proposed Racino legislation, which would have authorized slot machines and other electronic gaming devices operated by the Minnesota lottery the state’s two racetracks.

“It is very disappointing that our proposed Racino legislation was not part of resolving the budget impasse,” Sampson said. “Studies have shown that two Racinos would generate an estimated $125 million annually in revenues for the State of Minnesota, while creating thousands of jobs in the racing, hospitality, and equine industries. Racinos would also enable Minnesota’s horse racing industry, which already employs several thousand individuals, to remain competitive and viable. We believe our efforts this year have increased support for Racinos in Minnesota, both among the public and among lawmakers in St. Paul, and we remain committed to the adoption of Racino legislation in Minnesota at the earliest possible time.”

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,927.27 -33.30 -0.20%
S&P 500 1,973.79 -4.55 -0.23%
NASDAQ 4,431.2140 -18.35 -0.41%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs