Century Casinos has announced plans for a project in Balzac, north of Calgary, that would include a horse racing track.

A subsidiary of the Colorado-based company has signed credit and management agreements with the United Horsemen of Alberta Inc., according to Monday's announcement.

Darcy Marler of the United Horsemen of Alberta says the new development will not take away from other casinos already operating in the city.

"We feel that we're going to grow the pie. We're basically a destination more so than the other facilities. With the CrossIron mall just across the street we see the CrossIron Balzac area as being a new convention centre in Calgary. A place where people will come from out of town," Marler said.

UHA has been working on a new racetrack for years, but didn't have the money until now. Marler says his group was quite far along in the application process and just needed a financial partner.

Century Casinos is putting up $13 million for the track, a big casino, off-track betting and a restaurant and lounge. The company already owns casinos around the world, including in Calgary and Edmonton.

'Great day for racing in Alberta'

"This is a huge deal for horse racing in Alberta," said Marler. "This is basically what the industry's been waiting for for several years now, so this is a great day for racing in Alberta."

The Alberta Gaming Commission still has to approve the casino licence and project, and development applications are still before Rocky View County.

UFA hopes the project can be approved quickly, and says it could be built 12 to 18 months after that.

"It means a lot of things for the county," said Rocky View County Reeve Rolly Ashdown. "It gives us some recreation. It gives us some entertainment. It helps agriculture people.... It diversifies our tax base, brings some employment to the county."

Ashdown said a much bigger project was first announced in 2004, but the long delay does mean much of the project is already done — including roads, utilities and water licensing.

"We've missed the Calgary market tremendously," said Norm Kennedy, the president of the Alberta Standardbred Horse Association.

"A lot of our owners really don't want to go as far as Edmonton to watch their horses race."