Maybe gambling wasn’t the answer afterall.
Canterbury Park today announced that 10-percent of its employees are being cut, citing the reduction in revenue in a bad economy.
“The downturn in the nation’s economy has had a significant adverse effect on our card room and pari-mutuel revenues,” stated Randy Sampson, Chief Executive Officer of Canterbury Park said in his news release. He also blames illegal Internet gambling.
Betting on horse racing in the nation was down 10 percent in the third quarter compared to 2007, according to an industry trade group. One racing wag says the impact will be felt in state coffers.
In 2005, some state legislators wanted the state to partner with Canterbury to build a “racino,” a combination horse track and casino.
About the blogger
Bob Collins has been with Minnesota Public Radio since 1992, emigrating to Minnesota from Massachusetts. He was senior editor of news in the ’90s, ran MPR’s political unit, created the MPR News regional website, invented the popular Select A Candidate, started the two most popular blogs in the history of MPR and every day laments that his Minnesota Fantasy Legislature project never caught on.
NewsCut is a blog featuring observations about the news. It provides a forum for an online discussion and debate about events that might not typically make the front page. NewsCut posts are not news stories but reflections , observations, and debate.