Jun 5, 2012 at 6:29 am
SHAKOPEE, MN (AP) - Officials with the Canterbury Park horse track and the Shakopee Mdewakanton Sioux Community have reached a major deal for the track to drop its long pursuit of slot machines.
In return, the tribe will pay Canterbury $75 million over 10 years.
The deal ensures that Canterbury won't bring slots or any other new forms of gambling online to compete with the tribe's Mystic Lake casino.
Canterbury has pursued a so-called ''racino'' for years, arguing that it needs more revenue to keep Minnesota's horse racing and equine industry healthy. Canterbury president Randy Sampson calls it a ''great day'' for racing.
The deal is subject to approval from the Minnesota Racing Commission.