Quote:
Originally Posted by EdmTrekker
So your saying ERRA approved the site and leased the land out for the Casino and Racetrack without knowing the requirement despite Federal representatives being on the Board of ERRA? Wow!!
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Nothing has been approved or leased when it comes to the land. Horse Racing Alberta selected Century Casinos to build the facility. In order to proceed, Century must obtain a "Racing Entertainment Licence" which there is currently a moratorium on. They also need to meet specific debt to equity ratios, and other criteria imposed by AGLC. If/when Century gets this "currently unavailable" licence, they then will then be faced with the restriction of the land they have selected.
The NEF addesses : "Spectator Sports Facility"-...includes an animal racing track but does not include an auto racing track"
To recap: A Government appointed body, Horse Racing Alberta, conducted a request for proposal for a licence that is suspended "indefinitely" by a Goverment body (AGLC), and then went on to select a group that proposed to build on Land that is prohibited by a Government body (Fed/Prov)
As someone above aptly described it, WOW.