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Peguis First Nation - Manitoba Jockey Club Announces Joint Venture
For Immediate Release
December 19, 2013
Winnipeg, MB -- Assiniboia Downs is being revitalized courtesy of a joint venture partnership between Peguis First Nation and the Manitoba Jockey Club.
FN Developments Inc. announced today it is undertaking a new business plan that will allow for the sustained and continued success of Assiniboia Downs, complicit with all applicable federal and provincial horse racing regulations.
The new and improved Assiniboia Downs will be a premier destination for both Manitobans and tourists and is poised to generate upwards of $100 million in infrastructure spending and jobs.
"Our initial development plan will see hotels, convention and retail space on the land adjoined to the Downs," says Peguis First Nation Chief Glenn Hudson. "Peguis First Nation places great importance on building partnerships to advance our province's economic development and we're very excited to see the positive impact this new partnership has."
The joint venture real estate development was made possible by the Government of Canada settling the Peguis First Nation Treaty Land entitlement claim in 2009.
"We're happy to be able to support development of new jobs, infrastructure growth and economic stability that will be appreciated by future generations and will become a great source of pride for all Manitobans," Chief Hudson says.
The proposed project will offer Manitobans a unique mix of business and entertainment opportunities, making it a full service destination.
"The Jockey Club could not be happier with this outcome and what it means for Assiniboia Downs and Manitobans," says Darren Dunn, Chief Executive Officer of the Manitoba Jockey Club. "We are grateful for the partnership which has been solidified here today and are committed to ensuring this project not only comes to fruition, but is a success for everyone to share in."
FN Developments will announce detailed development plans in early 2014, along with plans for community consultations and stakeholder meetings.
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