MINNEAPOLIS (WCCO) — Supporters of racino, a racetrack and casino combo, announced plans to increase the prize money for the races by nearly $26 million.
The Minnesota Racing Commission listened to a proposal Thursday night.
They believe that could be a big jump start for the Minnesota horse racing industry.
A report obtained last week said slot machines at Minnesota’s two horse racing tracks — Canterbury Park and Running Aces — would generate enough annual revenue to build the Vikings stadium with plenty left over for education.
The Minnesota State Lottery prepared the study, showing racetrack slots would generate $432 million a year and $133.3 million in new taxes to the state.
If approved, a racino could open in as little as six months.
The Indian Gaming Association said the racino numbers are grossly inflated because tribes will boost their payouts to keep customers.
They also warn that it could mean layoffs for thousands of tribal casino workers statewide.