Bob CollinsMaybe 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.
