| CANTERBURY
CARD CLUB
A card club, such as the one at Canterbury Park, offers a variety of
poker-style games and casino games such as blackjack. Canterbury’s
Card Club offers unbanked card games where players bet against each
other instead of the house.In 1999, the Minnesota Legislature authorized
licensed horseracing tracks to operate card clubs. Canterbury Park opened
its card club in April 2000. The club, open 24 hours a day, offers 50
card tables but no slot machines. Of total card club revenues, 14 percent
is directed to increasing race purses. (Of this 14 percent, 10 percent
goes to the Minnesota Breeders’ Fund.) The remaining 86 percent
goes to Canterbury’s administrative expenses, such as payroll,
maintenance, etc. In 2004, the Card Club added over $4 million
to live racing purses at Canterbury Park.
CANTERBURY DOWNS
The horseracing track that first began operating in Shakopee in 1985.
It closed its doors in 1992, never having made a profit.
CANTERBURY PARK
Under a new name and new ownership, Canterbury “Park” opened
its doors in 1995 on the former grounds of Canterbury Downs. It offers
live horse racing during the summer and simulcast tele-racing throughout
the year, along with a premiere card club facility. Throughout the year,
Canterbury Park hosts concerts, snowmobile races, craft shows, business
meetings and other events at its 380-acre facility.
CASINO
A gaming facility that normally includes all or a combination of the
following: slot machines, video games, card games, and other games such
as keno, craps, and bingo.
CHARITABLE GAMING
Charitable gaming is conducted for the benefit of non-profit organizations
and includes games such as bingo, raffles, paddlewheels, tipboards,
and pull-tabs. There are currently over 1,500 charitable gambling licenses
granted in Minnesota with operations at over 2,000 locations. Minnesota
ranks number one in the nation for charitable gaming.
HANDLE
The total amount wagered at a gambling facility. The handle is considered
to be an indicator of a gaming establishment’s success.
MINNESOTA BREEDERS’ FUND
The Breeders’ Fund was created to provide monetary incentives
to enhance Minnesota’s horse racing industry and to encourage
participation by Minnesotans. The fund is monitored by the Minnesota
Racing Commission. Funds are distributed to the horse racing industry
in the form of purse supplements, breeders awards and stallion awards.
The fund is distributed in three percentages with 62 percent going to
purses, 31 percent going to Minnesota thoroughbred breeders, and 7 percent
going to stallion awards.
MINNESOTA STATE LOTTERY
The Minnesota State Lottery is a state agency that controls instant
scratch and numbers games (e.g. Powerball). It was established by a
constitutional amendment approved by Minnesota voters in 1988 by a margin
of 59 percent to 41 percent.
PARI-MUTUEL BETTING
A form of betting used with horse racing in which those who bet on the
winners divide the bets or stakes, less a percentage for the management
and other fees. Minnesota voters approved a constitutional amendment
in 1982 to allow pari-mutuel horseracing in the state.
PURSE
The money given as a prize in a horse race. The bigger the purse, the
higher quality horses a race will attract. Daily purses at Canterbury
have risen to about $120,000. The Racino at Canterbury Park proposal
calls for an additional $18 million each year to supplement live racing
purses at Canterbury Park.
RACINO
A gaming facility that combines a horseracing track with other casino
games.
RAKE
A fee that a casino or card room charges for each hand. The rake is
typically a percentage or flat fee that's taken from each pot after
each round of betting. The rake fee compensates the gaming company for
use of its facilities. (Poker and card players bet against each other
instead of against the casino.)
SIMULCAST RACES
The live simulcast at one racetrack of horse races underway at another
racetrack. Otherwise referred to as tele-racing. Canterbury Park can
accommodate up to 5,000 simulcast patrons.
UNBANKED CARD GAMES
Card games where guests pay against one another instead of the house.
Canterbury Park’s Card Club is the first and only facility in
Minnesota to offer unbanked card games.
|