Canterbury Park, Shakopee Mdewakanton Sioux Community Sign Ten-Year Cooperative Marketing Agreement
Canterbury Park Holding Corporation (NASDAQ: CPHC) and the Shakopee Mdewakanton Sioux Community (SMSC) announced today a ten-year cooperative marketing agreement. Highlights of the new agreement include:
Substantially increased purses for live races during Canterbury Park's race seasons through a purse enhancement program funded by the SMSC, a commitment totaling approximately $75 million over the life of the agreement.
New joint marketing opportunities between Canterbury Park and SMSC's Mystic Lake Casino Hotel, taking advantage of their proximity to one another in the southwest corner of the Twin Cities metropolitan area, including annual payments to Canterbury Park for joint marketing totaling $8.5 million over these ten years.
Further information regarding the cooperative marketing agreement will be in a Form 8-K that will be filed by Canterbury Park with the U.S. Securities & Exchange Commission later today.
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