Plans for a new gaming and entertainment centre in Saint John were unveiled Friday morning, even though the New Brunswick government has yet to present its policy on racetrack casinos.

The Exhibition Association is proposing to build a "racino" facility containing video lottery terminals, slots machines and gaming tables on the current site of Exhibition Park Raceway.

The Association's plan also includes a new harness racing track, grandstand, restaurant, outdoor soccer field, a two-plex hockey arena and a combination agricultural sports dome with an indoor soccer field.

Association President Willard Jenkins said the group was not looking for any money from the city or the province, just approval from the provincial government to proceed.

Racino venues — which combine harness racing and video lottery terminals — are part of a pending provincial policy on gaming.

Jenkins said the association was looking to partner with a Quebec harness racing company to handle the racing component of the project, which he estimated would cost $20 million.

"They would operate the actual operation of the racing, the harness racing and the racino end of it. Obviously, they're the ones that are going to look at making the investment, and obviously we would get some revenue in return for the use of our lands," he explained. "It's that revenue that we would use to enhance our facilities in other ways."

Ross Galbraith, with the horse racing industry association, met the announcement with enthusiasm.

"It looks like they're redeveloping the race track, they're going to add ice hockey rinks, and soccer fields in the race track but also an indoor soccer field and exhibition space, really a large exhibition, recreational facility," he told CBC News. "I just think it's a great idea and it is very much like the Western Fair complex in London [Ontario] which is very successful."

The New Brunswick government is expected to release its new gaming policy before the end of the year.