Canterbury Park Laying Off Workers During Gambling Crunch
Canterbury Park in Shakopee, Minnesota, is learning now what other casinos around the country have known for months. The increase in competition and the current state of the economy is hurting the casino industry bad.
Casino expansion has become popular over the past several years as a means of trying to balance state budgets. With spending spinning out of control in many states, casino gambling has been seen as a savior of sorts.
Canterbury Park is one of the locations where the casino expansion in other areas is hurting business. They are now ready to lay off sixty employees before the end of October. That figure represents almost ten percent of the total employees working for the company.
"The downturn in the nation's economy has had a significant adverse effect on our card room and pari-mutuel revenues. It is important to note that we are not alone in this. Racing and gaming venues nationwide have been hit hard by the weak economy," said Randy Sampson, CEO of Canterbury.
Sampson is correct in his assessment. Other casinos around the country have also began to lay off their employees due to the state of the economy in the United States. Ten percent is a relative low number of employees, some casinos have cut their staffs upwards of twenty percent.
With the economy getting weaker and not stronger, there is a chance that many of these casinos will eventually have to shut their doors before the economy turns for the better. Canterbury Park is hoping that they are not one of these situations.
October 25, 2008
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com
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